Advancing Communities Together® (ACT®) Deposit Program Reaches $100M, Empowering Local Economies

The innovative initiative brings together impact-driven banks and depositors to fuel growth in local areas.

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In its first year, the ACT Deposit Program allocated $100 million in low-cost funding to banks operating in communities across the U.S.​ The program helps large depositors place funds in Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs)—mission-driven banks that lend the funds to people and businesses creating economic opportunity in the communities they serve.​

Depositors benefit from the convenience of a single banking relationship while knowing their money is helping local communities grow and that it is eligible for FDIC insurance at network banks. They’re also able to amplify their deposits' impact because the funds are spread to CDFIs and MDIs nationwide through ICS®.

Download the annual impact report and see how the ACT Deposit Program is bringing cash to local communities.

ACT Deposit Program Impact Report Download Form

 

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