Case Study: Sound Community Bank earns CRA credit and supports community development with IntraFi's ACT Deposit Program

Sound Community Bank places $1 million with IntraFi to earn CRA credit

Sound Community Bank sought to make Community Reinvestment Act (CRA) qualified investments in a simple and secure manner. They utilized the Advancing Communities Together (ACT) Deposit Program from the vendor IntraFi to address this challenge.

IntraFi's solution allowed Sound Community Bank to seamlessly place a $1 million FDIC-insured deposit with Mission National Bank, a CDFI. This provided the bank with an easy, secure investment that qualified for CRA credit. The measurable impact was the funding of $1 million to support Mission National's mission of financing affordable housing and aiding small businesses in its community.

Sound Community Bank