Your organization can choose from a toolkit of banking services that enhance convenience, simplify finance management and help you attract more donations. For example, here are five services offered by Heartland Bank which assists nonprofit entities throughout the Peoria area:
- Commercial online banking. This is the first service we set up for a nonprofit organization because it functions as the main hub for the other services listed below. You can decide to have just one deposit account or multiple accounts. You also have the option of authorizing only certain individuals to access accounts with personalized login credentials.
- Remote deposit. Our remote-deposit service enables your staff to deposit checks without visiting a bank location. This eliminates the hassles, costs and liabilities of traveling to and from a brick-and-mortar building to drop off deposits. The service requires a special, easy-to-use scanner that connects to our online system. It creates images of each check to be deposited and sends them directly to the bank to credit your account.
- Financial reporting. Commercial online banking provides another advantage for nonprofit customers: access to financial reports that streamline account reconciliation. These include monthly account statements, summaries of transactions during specific time periods, and details about deposits and withdrawals. We also offer separate reporting for remote-deposit transactions, which allows you to download and archive the images of all deposited checks so they are always available for future reference.
- Onsite donation collection. If you like the idea of collecting credit or debit card donations from people who visit your facility, we can help you set that up. This prevents visitors from having to write checks and speeds up the collection process by quickly delivering donations to your commercial banking account.
- Online donation collection. It is also easy for individuals to submit donations through your organization’s website. This service requires setting up a commercial online banking account, adding a “Donate Now” button to your website, and arranging for online donations to be deposited straight into your account. Each donation can be charged to a credit or debit card, or handled as an ACH transaction.
The best way to explore these services is to have in-depth discussion with a local treasury management expert. Ideally, you will want to meet with an expert at a community bank that has a strong history of working with nonprofit organizations, provides a more personal touch than big national banks, and will dive into understanding all aspects of your organization. PM
Todd Lindsey is assistant vice president, treasury management, for Heartland Bank. Learn more at hbtbank.com.