Tellus and Central Bank of Kansas City Launch New FDIC-Insured Deposit Account for Savvy Savers

Tellus and Central Bank of Kansas City Partner for a New Deposit Account

In a significant move towards enhancing consumer finance, Tellus App, Inc. and the Central Bank of Kansas City (CBKC) have formally announced their collaboration to introduce a new FDIC-insured Deposit Account. This initiative, set to elevate the financial landscape in the community, is centered on providing eligible consumers with an enticing 4.50% annual percentage yield (APY) through the Tellus app, effective from September 28, 2026.

A Groundbreaking Partnership

Tellus, known for its innovative approach in real estate and financial technology, has teamed up with CBKC, a certified Community Development Financial Institution (CDFI). This partnership marks a convergence of modern consumer technology with a steadfast commitment to community development, showcasing how banking can be both effective and purposeful.

Jeromee (JJ) Johnson, President of Tellus, expressed his enthusiasm about the partnership, stating, "Central Bank of Kansas City has a longstanding history of channeling capital towards housing and the neighborhoods it serves. Our collaboration amplifies this mission by providing consumers with straightforward access to FDIC-insured deposits.” This initiative not only highlights Tellus's technological prowess but also showcases CBKC’s dedication to responsible banking practices.

Details of the Deposit Account

The FDIC-insured Deposit Account allows users to earn a competitive interest rate while maintaining the security that comes with FDIC insurance. Customers can open and manage their accounts seamlessly through the Tellus app, with a minimum opening balance of just $100. Notably, there are no associated fees, making it an attractive option for many.

With a lifted balance limit of $100,000 per account, users can maximize their savings potential without the burden of worrying about fees or complicated processes.

Customer-Centric Focus

The Tellus app is designed not only for ease of use but to make money management a more engaging experience for customers. As Alex Miller, Chief Banking and Innovation Officer at CBKC articulated, "Tellus brings the kind of design and energy that makes people actually enjoy managing their money.” The collaboration effectively extends CBKC's community development mission beyond traditional banking methods, opening new avenues for households to earn money safely and transparently.

CDFI Certification and Community Impact

With its CDFI certification since 1998, CBKC has consistently directed resources towards underserved communities, focusing on affordable housing, job creation, and essential services. The partnership with Tellus is a significant stride towards integrating modern financial technology with robust community support, ensuring that both entities advance their missions simultaneously.

Future Endeavors

Looking ahead, both Tellus and CBKC are optimistic about future collaborations, emphasizing that the Deposit Account is only the beginning. Johnson reflected on the partnership’s potential, stating, "We have every intention of expanding our collaboration with CBKC, which could include remarkable community initiatives that serve the people who need it the most.”

Conclusion

With innovative solutions that blend financial technology with substantial community impact, the collaboration between Tellus and the Central Bank of Kansas City represents a critical advancement in the financial services sector. Eligible customers in the U.S. can now take advantage of the new FDIC-insured Deposit Account via the Tellus app, a step towards not just better savings but a commitment to community welfare and empowerment.

To explore the new Deposit Account or for more information about Tellus and its offerings, visit TellusApp.com.