How IntraFi Works

How IntraFi Network Deposits Works

When you have deposits at a single bank in a single ownership capacity, then you have access up to $250,000 in FDIC insurance at that bank. By using IntraFi Network Deposits, you can access multi-million-dollar FDIC protection through a single bank relationship.

Financial institutions that offer IntraFi Network Deposits are members of a special network. When you submit funds for placement through Security Federal using IntraFi Network Deposits, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and placed in deposit accounts at other network banks. You can choose to have funds placed in demand deposit accounts (using the demand option), money market deposit accounts (using the savings option), or CDs. With your funds placed in amounts below $250,000, you can rest assured that both principal and interest are eligible for FDIC insurance.

By working directly with just one network bank (like Security Federal), you can access FDIC coverage from many. And, you can enjoy the convenience of transparent, detailed reporting and the ease of receiving periodic statements from your bank.

Getting started with IntraFi Network Deposits in 5 easy steps.

Security Federal Savings BankYou sign an IntraFi Network Deposits DPA (Deposit Placement Agreement) and a custodial agreement.

Security Federal Savings BankWith the demand and savings products, you identify an existing transaction account (or set up a new one) to be used with each option chosen. With the CD product, you simply deposit money with your bank.

Security Federal Savings BankFunds are placed into deposit accounts or CDs at other network institutions in accordance with the applicable DPA1.

Security Federal Savings BankEnjoy transparent, detailed reporting. With the demand and savings products, you can check balances and see where funds are at all times using easily accessible online tools. With the CD option, you receive confirmation of your CDs from your bank.

Security Federal Savings BankReceive one periodic statement from Security Federal (per account type) detailing activity.

Placement of funds through IntraFi Network Deposits is subject to the terms, conditions, and disclosures in the program agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. Program withdrawals may be limited to six per month for funds placed in MMDAs. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before settlement for a deposit or after settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of IntraFi Network Deposits satisfies those restrictions. The IntraFi hexagon and Network Deposits are service marks, and IntraFi, the IntraFi Network logo, Insured Cash Sweep, ICS, and CDARS are registered service marks, of IntraFi Network LLC.