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    Socially Responsible Investors

    What Leaders Say

    Half of our members rely on Promontory Interfinancial Network’s services to attract deposits so they can make loans supporting community development in some of the most underserved urban neighborhoods and rural communities in the country. On average, the community development banks attract reciprocal deposits at four times the level of other community banks. That translates into loans to small businesses, loans for mortgages and home improvement, loans for revitalization projects—loans that otherwise would not be made.
    Jeannine Jacokes
    Chief Executive and Senior Policy Advisor
    Community Development Bankers Association

    One of the most powerful aspects of our relationship with Promontory Interfinancial Network is our ability to attract depositors who believe what we believe—believe that placing capital in an institution that is focused on making a difference in the community is a worthwhile practice. But they want to do so with a fair rate, without additional risk. Promontory Network allows us then to take those deposits and, in turn, invest them locally within the community, accomplishing both the community development objective but very importantly also the underlying desire of those depositors who understand and believe in what we’re doing.
    [Promontory Interfinancial Network has] provided, if you will, a wonderful tool for us to fund the expansion of the bank. As we grow the scale of the bank, what we do is grow our capability, our capacity, to be able to lend back into the community. And that’s what it’s really all about, so that we can lend back into the community and really make a difference with these underlying businesses.
    Brian Argrett
    President and CEO
    City First Bank of D.C.

    It’s fair to say that Promontory Interfinancial Network’s deposit placement services provide a lifeline to minority-owned banks by enabling our members to attract large deposits from civic-minded and socially motivated investors and to put those deposits to work in communities we serve.
    Michael Grant
    Former President
    National Bankers Association

    Offering CDARS has been instrumental in helping us fulfill our mission of building the economic health of the underserved communities in the Washington, DC area. We have been able to address the investment policy constraints of many of our socially motivated investors—not-for-profits, foundations, and public agencies—by offering access to the multi-million-dollar levels of FDIC insurance coverage so critical to these depositors. In turn, we are able to put these large-dollar deposits to work in the communities that need it the most.
    Kimberly Levine
    EVP Chief Operating Officer and Chief Financial Officer
    City First Bank of D.C.