Tellus App Partners With Central Bank of Kansas City to Offer FDIC-Insured Deposits
Tellus App has partnered with Central Bank of Kansas City (CBKC), a certified Community Development Financial Institution, to offer an FDIC-insured Deposit Account through its app. The account offers customers a competitive annual percentage yield (APY) of 4.50% and allows deposits up to $100,000 per account with no fees involved. The partnership combines Tellus’s consumer technology platform with CBKC's banking infrastructure and community-focused mission. While Tellus is not FDIC-insured itself, the new Deposit Account provides users access to a secure savings option backed by FDIC insurance through CBKC. The initiative aligns both companies' goals of making financial services more accessible while supporting underserved communities. This collaboration highlights growing trends in fintech partnerships with traditional banks and CDFIs to expand inclusive finance options, particularly for low- and moderate-income households.
Topics: CDFI partnership consumer finance FDIC-insured accounts real estate tech