Dues and event reserves, earning while they wait
Separate conference, operating and reserve money, spread deposits across insured institutions, and earn 2.00% APY*.
*APY as of November 6, 2026. Variable and may change.
Dues come in once a year and sit
And the conference deposit fund is mixed in with operations.
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2.00%
APY
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0.01%
Standard rate
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0.01%
Standard rate
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0.01%
Standard rate
Standard business savings APYs as of October 2026. Rates vary by location and relationship tier.
*National average: FDIC national savings rate, October 19, 2026. Devote APY may change at any time. Estimate assumes the APY stays the same for 365 days.
How it compares
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.
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Funds for dues, events and reserves
Keep operating, conference and reserve money in separate named Funds inside one account.
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Withdrawals scheduled for venue dates
Schedule a withdrawal to your checking account ahead of each venue payment. Two people approve every transfer.
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Coverage across institutions
Devote spreads balances over $250,000 across multiple insured institutions so more of your reserves can be covered.
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Reports for the finance committee
Monthly statements and treasurer-ready reports show each Fund's balance, and QuickBooks sync connects them to your books.
A year of dues, conferences and reserves
Association money arrives at a few points in the year and leaves at a few others. Give each purpose its own Fund so the timing is easy to see.
- Dues season
Renewals land in your checking account. Move what operations won't need soon into an Operating Fund, and keep the board's reserve in a Fund of its own.
- Conference deposits
Keep registration and sponsorship money in a Conference Fund. Schedule withdrawals to your checking account ahead of each venue or catering deposit date.
- The finance committee
Monthly statements show each Fund's balance and interest, and QuickBooks sync keeps your books matched to the account.
- Tax on interest
Trade and professional associations under 501(c)(6) generally don't pay tax on interest. Social clubs under 501(c)(7) generally do, because their investment income is taxable. Confirm with your tax advisor.
FAQs
Are 501(c)(6) groups eligible?
Yes. 501(c)(6) and 501(c)(7) organizations apply as nonprofits.
Is interest taxable for our club?
It depends on your exemption type. Ask your tax advisor.
Can we have money ready for a venue on a date?
Yes. Schedule a withdrawal to your checking account, approved by two people, and pay the venue from there.
Is there a minimum deposit?
The first deposit must be at least $1,000.
How quickly can we withdraw?
Anytime. Requests before 3 p.m. Eastern on a business day are processed that day and typically reach your bank two business days later.
Devote is a financial technology company, not a bank. Deposits are placed at FDIC-insured banks and NCUA-insured credit unions through our deposit program partner. FDIC and NCUA insurance only cover the failure of an insured institution, and certain conditions must be met for pass-through coverage. Read the deposit insurance disclosure.
Put dues and reserves to work
Apply for an account in minutes.
- 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.
