As a result of the response of fans and well-wishers to the Telegraph-led appeal to raise a performance security bond, the Rugby Football Union has already agreed to Cov's participation in National Division One season.
But the Coventry Building Society account remains open and fundraising efforts will continue in the push to reach the maximum target of £100,000.
The RFU yesterday issued a statement confirming Cov's place in National One which kicks off with a visit to Plymouth Albion on August 30.
COVENTRY RUGBY CLUB has thanked its supporters and the people of Coventry yesterday after the RFU confirmed they would be allowed to carry in playing in National League One next season.
The club issued a brief statement after rugby's top brass confirmed yesterday's Coventry Telegraph story that the club had been saved.
It said: "Coventry RFC has been overwhelmed by the support shown by fans, supporters and the people of Coventry. The amount raised is a great testament to the loyalty and spirit of all the true Coventry supporters.