planet-smart blog

New banking package saves nonprofits money

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New Resource Bank

New Resource has created a banking package for nonprofit organizations that provides discounts on services that help them bank more efficiently, higher interest rates on deposits, and an opportunity to increase donations.

“Nonprofits are an important part of our community, and many are working with businesses and individuals on environmental and social issues, so if we support them we’re supporting sustainability,” says Gary Groff, New Resource branch manager. “When a nonprofit is looking to open a bank account or review its banking relationship, we want to be part of the conversation and part of the solution.”

With the new package—available to current as well as new clients—even small nonprofits can take advantage of remote deposit capture (RDC), which allows organizations to deposit checks simply by scanning them at their office. Nonprofits get a free scanner and setup, and a discounted monthly fee of $35 (from the usual $100). The service is free for organizations with combined balances greater than $100,000.

In addition, New Resource is eliminating the $50 monthly fee for nonprofits that want to send wire transfers via online banking (individual wire charges still apply). Nonprofits also qualify for a higher interest rate on checking and money market accounts.

To top it off, nonprofit clients will receive a $25 donation from New Resource for every checking account opened by the organization’s employees and friends. The bank encourages nonprofits to promote the program in newsletters and other communications.

 

Clients drawn to mission and commitment
These perks build on New Resource’s already strong appeal to nonprofits, which are gravitating to the bank because of shared goals and the bank’s commitment to helping them achieve their mission.

“As a nonprofit that focuses on environmental and climate issues, we were looking for a bank that not only had a proven track record in the nonprofit community, but also one that promotes greening and sustainable practices,” says Dennis O’Brien, CFO at the Alliance for Climate Protection. “We couldn’t have found a better partner than New Resource Bank.”

By choosing New Resource, says the Rev. Canon Sally G. Bingham, president of The Regeneration Project, “we have the opportunity to do our banking andfulfill our mission, which is to be stewards of the earth. Currently, the bank is helping us find a creative way for congregations to put solar on their roofs—a way in which we all win, saving money and the planet at the same time.”

Tod Dobratz, CFO/vice president of finance and administration at NatureBridge (formerly Yosemite National Institutes), cites the bank’s openness as well as its alignment with the organization’s mission. “They seemed willing to look outside of traditionally narrowly focused requirements and consider our unique attributes, including our strong business model, pledged donations, and other factors that many commercial banks would disregard. They saw the real potential in a long-term relationship with us that many other banks seemed to be unable to take into consideration.”

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