Coign, a fintech company, is partnering with Constitution Bank, a nationally chartered institution with over 150 years of consumer banking experience, to offer FDIC-insured high-yield savings accounts (HYSA) to Coign customers. This move gives customers a safe, high-yield place to deposit their cash, while leaning on Constitution Bank's rock-solid banking foundation.
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This partnership broadens Coign's offerings and steps into the growing high-yield savings market. These accounts will serve individuals and businesses, corporations, non-profits, and the like-aiming straight at the untapped conservative consumer.
Set to roll out in Q4 2025, these FDIC-insured accounts come with competitive rates on balances over $5,000 and no long-term strings attached. They're built to pull in savers and businesses who want more from their cash reserves.
Rob Collins, CEO of Coign, stated: “Offering high-yield savings accounts in addition to our Visa credit card will provide additional values-based financial services for our customers. We expect this product to expand our Coign community, drive substantial customer acquisition and strengthen ties with our existing customers. This is just the start-we see plenty of opportunity to offer more financial products that fit our customers' values and needs.”
Jason Plummer, chairman of the Board for Constitution Bank commented, “This collaboration is a win for both Constitution Bank and Coign. By combining our banking capabilities with Coign's huge community, we're delivering a compelling product that creates value for savers and drives growth for both institutions.”
This deal mixes Coign's fintech know-how with Constitution Bank's proven reliability. It's a low-risk, high-reward play for Coign, with room to grow into small business lending, insurance, and wealth management down the road.
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SOURCE Coign
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