Anchorage, AK – Frist national Bank Alaska today announced enhanced deposit options through the IntraFi Network Deposits℠, providing customers wiht expanded access to FDIC insurance and a suite of benefits designed for both individuals and businesses. The move comes as economic uncertainty continues to prompt heightened awareness of deposit safety and efficient cash management.
The IntraFi Network allows First National Bank Alaska customers to exceed the standard $250,000 FDIC insurance limit per depositor, per insured bank, by strategically distributing balances across a network of participating banks.This feature is especially relevant in the current financial climate, offering peace of mind against market volatility, as deposit accounts are not subject to fluctuating net asset values.
Beyond increased FDIC coverage, the IntraFi network delivers streamlined financial management. Customers benefit from earning interest on cash balances held in demand deposit accounts, while maintaining immediate access to their funds. The service consolidates deposits from multiple banks into a single monthly statement, eliminating the complexities of managing numerous banking relationships and saving valuable time.
First National emphasizes that participation in the IntraFi Network also directly supports local economic growth. By utilizing this service, customers contribute to First National’s ability to provide lending opportunities for Alaska’s small businesses, nonprofits, and individuals pursuing higher education. This fosters growth within Alaskan communities and reinforces the bank’s commitment to the state’s economic well-being.
