Kim Winslow
Edenton, NC (USA)
Role(s):
Anova Financial Corporation
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Startup
Location:
Edenton
Industry:
Finance
Year Founded:
2004
Number Employees:
INVALID
Description:
ANOVA is a financial services firm that currently has $100 million in assets under management. Depositors utilize ANOVA's SaaS platform at (URL removed) to protect deposits up to $5 million through FDIC Insurance while earning a higher yield and daily access through internet banking.
These deposits are linked through a custodial account to our network of well capitalized banks. Theses deposits are provided to our network of banks as an alternative wholesale funding solution. Banks retain 90% of these funds over 2-3 years – which makes them virtually identical to core deposits. As a result about 60% of the banks in North Carolina are ANOVA participating banks.
ANOVA was originally approved by the FDIC in 2004 when we started accepting deposits from local governments but has