About Devote
Savings built for the way nonprofits actually hold money.
Devote gives nonprofits, churches, schools and associations a high-yield savings account with the controls a board expects: an optional second approver on transfers, Funds for restricted money, monthly statements, and federal insurance up to $50 million.
2%Devote
0.38%National Average
$50MDevote
$250KStandard FDIC Limit
National average: FDIC national savings rate, October 19, 2026. Standard FDIC limit: $250,000 per depositor, per bank, per ownership category.
Why we built it
High-yield savings exists. It just wasn't built for nonprofits.
Most nonprofit reserves sit where they were first opened: a checking or basic savings account at a local bank. The national average savings rate is 0.38%. For a $500,000 building fund, the difference is thousands of dollars a year that never reaches the mission.
The accounts that pay more were designed for someone else.
Built for individuals
Most high-yield savings accounts are consumer products. Many won't open for an EIN, and few are set up for a board resolution.
Rates behind tiers
Business money market accounts often pay their advertised rate only above $10,000 or $100,000, or only alongside a linked checking account and a minimum balance.
One person can move everything
Typical online accounts give whoever signs in full control. Boards and auditors ask for two signatures, and most accounts can't enforce it.
The $250,000 ceiling
Federal insurance stops at $250,000 per bank. A bequest or capital campaign means several banks, several sets of signers and several statements to reconcile.
So treasurers end up choosing between safe and earning, or between earning and controlled, and restricted gifts get tracked in a spreadsheet next to the account instead of in it.
National average: FDIC national savings rate. Money market tiers: posted 2026 rate sheets at U.S. banks and credit unions.
What we built
One account that earns, stays insured and follows your policy.
A real rate on every dollar
2.00% APY* from the first deposit, with no balance tiers. *APY as of November 6, 2026. Variable and may change.
Insurance that grows with you
Devote spreads your balance across federally insured banks and credit unions, up to $50 million, with one sign-in and one statement.
No one has to move money alone
Turn on second approval and every transfer needs another person, confirmed with an authenticator.
Funds for restricted money
Keep the building fund, scholarships and donor gifts in separate Funds, each with its own balance and interest.
Records your auditor accepts
Monthly statements, a full activity history and QuickBooks sync. Board members and auditors get view-only access.
What's underneath
New software on decades-old cash infrastructure.
Devote is the account your team uses. The deposits are placed through our deposit program partner, which has run insured deposit programs since 2008. Its parent company has built cash management products since 1970 and grew its earlier cash programs from $4 billion to more than $130 billion.
Your money sits at well-capitalized, federally insured banks and credit unions. If Devote's app were ever unavailable, the deposits stay where they are, at those institutions.
How we got here
Built by listening to treasurers.
- 2023
Devote launches cards and expense tools for nonprofits.
- 2024
Customers ask where to keep the money they aren't spending yet. We add an insured high-yield savings account.
- 2026
We rebuild savings around how boards work: approvals, Funds, statements and access for every role.
How we give back
We work for the sector, and in it.
1% back to nonprofits
Every year, 1% of Devote's revenue goes to nonprofits.
Volunteer time every month
Our team spends paid hours each month serving local nonprofits.
"Devote has not only helped us manage our spending better as an organization, but will put several thousand dollars back into our organization in sales tax refunds."Josh R., President/Treasurer
"The budgeting tools keep us more in touch and deliberate with our spending... the real-time monitoring part is invaluable."Kelton B., Director, Finance and Accounting
Put your reserves to work.
Open a savings account your board can review.
- Apply in about 10 minutesTell us about your organization, including its address and EIN.
- Get approved, usually within 24 hoursWe review every application, and most accounts are open the next day.
- Link your checking and add moneyYour first deposit needs to be at least $1,000.
