What is Evergreen Money?
At Evergreen Money we are dedicated to bringing innovation to the conventional world of wealth management through digital-first financial solutions.
Our advanced technology re-engineers traditional banking and investment products to deliver innovative financial solutions. Our first product, Liquid Treasuries, is an example of our innovative technology— a first-of-its-kind checking account2 that sweeps your funds into US Treasury bills for safety3 and high-yield.
Our team includes technology veterans, product specialists, and wealth associates. Our founder, Bill Harris, was the former CEO of PayPal, Intuit and Personal Capital, an investment firm he founded and grew to $23 billion in assets.
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What is Liquid Treasuries and how does it work?
Liquid Treasuries is a first-of-its-kind checking account2 that maximizes your money by automatically sweeping your funds into short-term Treasury bills. It is paired with a Evergreen Visa® Debit Card for instant access to your funds.
A Liquid Treasuries account combines a checking account with an investment account that holds US Treasury bills. Deposits into the checking account are used to automatically buy T-bills so that your funds are invested in Treasuries earning high-yield.
Because there is no lock-in period, your money is available whenever you need it. Spend with your debit card, withdraw cash via ATM, or make ACH and Wire transfers4. Your spending activity is funded by selling Treasury bills automatically.
Banking products provided by Coastal Community Bank, Member FDIC. Treasury bills are held in your SIPC-insured brokerage account with Jiko Securities, Inc.
What are Treasury Bills?
US Treasury bills are short-term (typically 4 to 13 week) government obligations used to fund social security, the military and other programs. Treasuries are backed by the full faith and credit of the United States, making them relatively low risk investments. They are sold at a discount and mature at full price, so for example, a 4-week T-bill would sell for $996 and mature at $1,000 — a 5.24% yield.
US Treasury bills are commonly purchased through government sites or through secondary markets. Liquid Treasuries allows you to purchase Treasuries automatically and makes them readily available to power your daily spending. Enjoy quicker access to your cash without waiting for your funds to settle.
What is so great about Treasury bill yields?
T-bills are relatively low-risk investments with higher return than the average high yield savings account* and money market funds5. They also happen to be one of the safest investments there are since they are backed and guaranteed by the full faith and credit of the United States, without a limit.
Unlike interest earned from a regular checking account, high yield savings account, or a CD, Treasury bills are state and local tax exempt, which may result in even higher after-tax returns depending on the state where you reside.
For example: if you live in a high-income tax state such as California, your annualized after-tax return on a balance of $100,000 with a 4.84% yield is $2,505 net of our 0.36% fee. That is 46% more money than what you would earn with an account at Marcus, one of the best high-yield savings accounts in the market.
| $100,000 Balance | Pre Tax APY/Yield1 | Top Tax Rate | After-Tax Return |
|---|---|---|---|
| Marcus Savings | 4.25% | 54.1% | $1,951 |
| Evergreen Liquid Treasuries | 4.84% | 40.8% | $2,505 |
This is a hypothetical comparison. View disclosures.
5When compared to Fidelity Government Money Market Fund, Vanguard Money Market Fund, Schwab Money Fund as of 07/15/2024.
Is my money safe?
There are four levels of safety for your account— FDIC, SIPC, U.S. Guarantee, and through us, Evergreen Money.
The cash in your checking account is insured by the FDIC through our partner bank, Coastal Community Bank, Member FDIC, up to $250,000 per depositor.
The US Treasury bills in your brokerage account are insured by the SIPC up to $500,000 per account holder and are guaranteed by the full faith and credit of the United States without limit. Treasury bills are not FDIC insured, not deposits, and may lose value.
Evergreen Money Advisors is an investment advisor registered with the SEC, under whose supervision we have a fiduciary duty to act in the best interests of our clients rather than putting our own interests first.