Boiling Springs Savings Bank Announces Strong First Quarter Donations for Community Alliance Program - April 25, 2018
Our award-winning philanthropic program starts off 2018 with a strong first quarter, donating over $136,000 to a variety of local nonprofits based on customer choice.
Boiling Springs Savings Bank, one of northern New Jersey’s largest savings banks and provider of financial services to individuals and businesses for nearly 80 years, announced first quarter 2018 results for its award-winning, philanthropic Community Alliance Program (CAP). The $136,903 donated in Q1 starts the year off with promise, and continues the program’s tradition of strong performance and steady year-over-year growth. All totaled, an impressive $3.34 million has been donated through CAP since its 2006 inception.
Offering customers an innovative, cost-free way to support their favorite regional non-profits, the Community Alliance Program made payouts to 156 charitable organizations between January and March – including organizations that have been part of the program for a long time, as well as such first-time recipients as the William C. Williams Center – Performing Arts Inc.; the Boys and Girls Club of Clifton, Inc.; and the Friends of the Lincoln Park Library, Inc.
Over its 12-year history, the Community Alliance Program has enrolled more than 450 New Jersey non-profit organizations, including schools, libraries, animal shelters, and other civic-minded recreational and entertainment organizations. The program offers customers a simple, cost-free way to support area charitable organizations. Non-profit organizations that maintain an address in Bergen, Passaic, Morris, Essex, or Hudson counties simply need to open an account (or have an existing one). Then, individuals or businesses support these organizations by designating their checking and savings accounts, CDs, IRAs or new loans at Boiling Springs to them.
The program’s qualifying terms are easy for all to understand and follow: Once an enrolled non-profit has at least 20 designated supporters, Boiling Springs makes quarterly donations based on a percentage of the average daily balances of its supporters' accounts. All donations come directly from the bank and no associated fees are charged to customers or the non-profit organizations.
To help non-profits accrue supporting accounts, the bank supplies marketing materials such as flyers, website copy, social media shares and e-newsletter generation. Boiling Springs also hosts on-site sign-ups on a regular basis.
“We’re so proud of the way our Community Alliance Program connects the bank with our community and the passions of our customers,” said Debra Cannariato, First Vice President, Marketing & Sales Manager, of Boiling Springs Savings Bank. “We look forward to having many more non-profits join CAP, as it offers a wonderful way to earn money and build a support base among local residents and businesses.”