November 8, 2011 > Partnership Power
Partnerships are powerful. When people work together toward a common goal, they can achieve results greater than what each can accomplish separately. Fremont Bank recognizes the strength of partnerships and, through its B-CharitableSM checking account, is helping to harness this power by supporting community organizations that make our neighborhoods healthy, safe environments for everyone.
Although many charitable organizations are given the status of "non-profit," they cannot exist or function without financial support. Grants and bequests help, but the assistance of competent, professional guidance is essential to an efficient operation. "As a community bank," explains Brian Hughes, Director of Nonprofit Business Development at Fremont Bank, "We realize nonprofits are a big part of our local community." To provide support to this sector - just as with any other part of the local economy - Fremont Bank focused on a banking effort that would bring the power of partnerships to nonprofit efforts.
The challenge was to "find a viable product that would allow people to feel good about helping their community and support a local nonprofit," says Hughes. Since inception, the philosophy of Fremont Bank has always been to sustain its business while helping support local communities. Examples of this include pioneering extended hours and weekend banking. It took years to develop the B-CharitableSM program, but Fremont Bank thinks it now has the right formula.
Hughes continues, "We recognized that nonprofit organizations, which serve a wide variety of services for the full spectrum of society, need community support." The question was how to achieve this from a banking perspective. Again an innovative approach was necessary and a plan of action took shape. The bank's idea of, "If one person can make a difference, imagine what a whole community can do," drove the creative process.
It can be overwhelming to try and address the immense needs of a whole community, but banking institutions are familiar with the process of combining small amounts of money to create large and meaningful results. The B-CharitableSM checking account uses that same concept by allowing customers to reap the benefits of a full-service consumer checking account with the added feature of supporting a local nonprofit organization. And, it all happens automatically!
The bottom line is that Fremont Bank customers can now deliver a "win-win" through the B-CharitableSM checking account... nonprofit organizations win by receiving additional funding and customers win by supporting their favorite charity. B-CharitableSM checking account holders can say, "My account is providing the services I need with the added bonus of supporting my favorite local charity."
Here's the buzz about B-CharitableSM Checking Account:
At the end of each year, Fremont Bank will donate a percentage of the B-CharitableSM Checking Account's Year-To-Date Average Available Annual Balance to the charity of choice, selected from a list of nonprofit organizations that have signed up to participate in the bank's program. And, as a bonus, once a B-CharitableSM checking account holder has processed at least 20 qualifying point-of-sale (POS) check card transactions, an additional fixed amount per POS transaction will be added to the annual donation. These things happen automatically. There is no extra effort required from those who have a B-CharitableSM checking account.
The total amount may not seem like much since many consumers believe they keep low balances in their checking accounts. However, the average available annual balance calculates what remains in the account each day, even when checks have not yet cleared! That can be a significant amount. And, remember that you are just one person out of an entire community.
To be part of the charitable buzz come to a local Fremont Bank office, call (800) 359-2265 or visit www.fremontbank.com/bcharitable.
See how easy it is to B-CharitableSM...
If you think one person can make a difference
Imagine what an entire community can do.