Updated May 22nd, 2021
Is Tellus FDIC-insured?
No, we are not. FDIC stands for "Federal Deposit Insurance Corporation" and its only function is to insure banks in the event of bank failures. This means that if a bank fails the insurance covers customer deposits in that bank up to $250,000 per customer. We are not a bank, so becoming FDIC insured does not apply to us. Your deposits are protected by a pool of recorded deeds of trust.