Where banking meets investment management.
Covercy brings banking to you through our partner Thread Bank.
Thread Bank is a digital-first banking institution that focuses on providing simplified banking solutions that integrate seamlessly. Established in Eastern Tennessee in 1906, Thread Bank has a history of supporting innovators and entrepreneurs. On the Covercy Platform, access all your banking services such as wire payments, Free ACH, and debit cards by property. Simple and Secure with Thread and Covercy.
FDIC coverage up to $3 million*
Simplified management of your funds through Thread Bank sweep program for added security.
Manage your account by property
Raising capital and distributions made simple. All your payments flow with your property's account. Whether you are collecting funds for a new project or distribution profits to your investors. All in one place.
Earn interest on accounts
Put resting capital to work for you earning up to 3.30% Annual Percentage Yield.**
Thread Bank is a modern banking institution with a strong focus on digital solutions and customer-first services, catering particularly to businesses and entrepreneurs looking for integrated financial solutions. Thread and Covercy bring together everything you need all in one platform.
Covercy is a financial technology company, and is not a bank. Banking services provided by Thread Bank, Member FDIC.
**The Annual Percentage Yield (APY) of 2.08% for Tier 2 accounts, 2.79% for Tier 3 accounts, 3.12% for Tier 4 accounts, and 3.42% for Tier 5 accounts are effective as of December 19, 2024. These rates are variable and based on the Federal Funds Rate and may change after the account is opened. Fees may reduce earnings on the account. This is a variable rate based on the Federal Funds Rate and may change after the account is opened. Fees may reduce earnings on the account. The Covercy Visa Debit Card is issued by Thread Bank, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa is accepted.
*Your deposits qualify for up to a maximum of $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure and a list of program banks at https://thread.bank/program-banks. Please contact customerservice@thread.bank with questions on the sweep program.