Program deposits are distributed across a network of community banks so that funds are available for lending in those communities. 2 bps of all deposits in program banks are donated (through Impact Deposits’ wholly-owned subsidiary, Charity Services Centers) to nonprofits in that community as selected by the bank, program depositors, or CSC.
Impact Deposits makes direct donations to deserving charities (including some in the nonprofit incubator it founded and supports, Center for Social Change).
Impact Deposits invests in companies (e.g., findCRA) that encourage greater participation by banks in socially impactful causes in their communities.