High Yield Savings with CNote
CNote’s High-Yield Savings Product Offers a 13x Better Yield with 100% Impact
San Francisco, CA – December 6, 2016 – Alternative investment company CNote
launched its automated savings product to reinvent the savings account and provide
savers – many of who are making 0% interest – with better options. Founded by former
Charles Schwab Managing Director Catherine Berman, CNote delivers a medium-term
savings product with a yield 13x better than the bank. CNote is going after savers in
America who are sitting on over $300B in non-emergency savings.
“Investors today are actually losing 1% of their nest egg due to high interest rates, rising
inflation levels, and traditional banks who charge high fees and keep investor’s money,”
said Founder Catherine Berman. “We created CNote to provide investors with a smart
way to save and feel good about their return.”
Community Development Financial Institutions
Berman, a three-time entrepreneur, came up with the idea of CNote when she faced
this problem herself. After earning less than 1% in her online savings account, she
decided there had to be better options for savers. Berman thought of Community
Development Financial Institutions as a proven but untapped resource for the over 30
million Americans who are sitting on extra savings earning nothing.
CNote’s flagship product, CNote Savings, provides savers a competitive 2.5% yield by
working with an established instrument created by the. U.S. Treasury Department called
Community Development Financial Institutions, or CDFIs. Until now, only large banks
and foundations could easily access CDFIs quickly and at scale.
Savings made easy
“Nearly every major bank in the US already invests in CDFIs,” states Berman. “CDFIs
have proven over the last 20 years they are strong financial technicians. CNote is now
making these financial vehicles accessible to anyone, regardless of who you bank with.”
CNote Savings provides users an online savings experience and quarterly liquidity.
There is no required minimum to get started and zero fees. Investors transfer funds
directly from their bank account through CNote’s integrated online banking platform to
easily transfer the deposit to CNote.
To learn more about CNote, visit www.mycnote.com or contact founders@cnotegroup.com