Protecting your money and personal data is priority #1 at Tellus. To date, Tellus has met every member payment obligation, and maintained an unmatched 100% loan repayment success rate in its lending business. All member data and deposits are backed by bank-level security (AES 256 encryption) and Tellus’ Triple-Layer Protection framework:
- Collateral: Every dollar Tellus lends is backed by high quality, US-based, single-family, residential real estate collateral with a geographic concentration in prime US Pacific Northwest markets.
- Capital: As a second risk mitigation layer, Tellus holds cash proportional to every dollar deposited to provide an additional protective buffer and liquidity reserves.
- Systems: Enjoy peace of mind with bank-level AES 256 encryption supported by industry-leading payments, insurance and fraud management partners, including Plaid, Stripe, IDology and Riskified, and a US-based treasury and risk management practice.
On average, we back every $1 of your money with at least $1.30 in real assets, including real estate collateral pledged by Tellus’ borrowers and cash held in reserve on Tellus’ balance sheet (as of November 2022).
For the avoidance of doubt, however, Tellus is a financial technology company, not a bank. And while user deposits that Tellus holds in cash are custodied by Chase Bank (aka JP Morgan Chase; FDIC member), Tellus is not a FDIC institution.