How Telra Institute earned $50,000 in interest after one year of banking through Crescent

Telra sought a treasury management solution to help steward cash assets 

Like many education-based nonprofits, Telra operates with a narrow budget and needs to manage cash strategically to meet stakeholder demands. As Founder and Chancellor of the nonprofit, Ronak Bhatt spends much of his time looking for solutions to bolster Telra's cash position.

"Like most nonprofits, we're not flush with resources," Ronak explains. "We're operating on an edge. So we need to make sure that the savings we do have are safely working hard for us." 

Chief among Ronak's treasury management initiatives was to find a secure and high-yield account to store Telra's excess cash. Most legacy banks and fintechs alike offered a diverse range of banking products, but they advertised either high interest or accessibility — not both. To ensure Telra's cash was resistant to the forces of inflation while maintaining availability for payroll or bill payments, Ronak chose to open a Crescent Cash account. 

“We wanted a place where we could drive returns on our savings while knowing they were secure and accessible at any time. Crescent Cash delivered on all those requirements.”  ­— Ronak Bhatt

Crescent Cash helps Telra safeguard and capitalize on its cash assets without sacrificing availability

Telra partnered with one of Crescent’s sponsor banks through Crescent Cash to elevate its treasury management capabilities and capitalize on its cash assets. 

Ronak was primarily attracted to Crescent's 4.40% annual percentage yield (APY)* interest rate offering, but quickly saw that the platform’s interface was also refreshingly innovative. The clean and uncluttered dashboard was simple to navigate and delivered a real-time list of account totals that helped him make sense of Telra's cash flows. Knowing these cash assets were quickly accessible¹ for any initiative gave Ronak even further peace of mind. 

Another factor that truly won Ronak over was Crescent's on-demand support. Whenever he had a pressing question (whether it be about the platform itself or the benefits Crescent Cash offers), he would receive the same red-carpet treatment as profit-generating organizations — something many legacy banks and fintechs alike simply didn't offer.

Treasury management on autopilot, Ronak now devotes his valuable time to more mission-oriented work, such as serving his students and their families. With Telra’s savings generating a hefty $50,000 per year in interest in their first 12 months of use, he also has been able to chip away at operational costs that improve the nonprofit’s cash position.

“With Crescent Cash, I have no doubts that our cash is going to be there when we need it or that I'm going to be able to move it out and use it for any pressing initiative.”  ­
— Ronak Bhatt

Telra transforms treasury management from a burden to a competitive advantage

With Crescent at his side, Ronak has the confidence to use Telra's cash as a growth lever instead of treating it like a stressful liability. Crescent's impact on Telra's operations has just begun. Still, the results so far have exceeded Ronak's expectations: 

• $50k in interest earned in their first 12 months of use
• ACH transactions cleared in an average of 0-1 days
• Expected to grow to 20+ invoice payments per month

‍

As Ronak looks to the future, he says there’s something that outshines all the other benefits that his team has realized by using Crescent Cash so far: emerging features. “I'm most excited about the possibility of what they're going to do next,” he says. “The Crescent team has built this robust, ever-improving product, and it works, so what if they capture more regarding our operating needs as a finance institution?”

“As a nonprofit organization, not all financial institutions deliver the services you need. Crescent has made it easy for us to find a strong financial partner, and they offer a great value in return on your savings.” ­— Ronak Bhatt