Boiling Springs Savings Bank Sees Robust Second Quarter Donations for Community Alliance Program - August 6, 2018
The $135,845 donated in Q2 continues the year's pattern of philanthropy and upholds the program's tradition of strong performance and steady year-over-year growth.
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 its second quarter 2018 results for its award-winning, philanthropic Community Alliance Program (CAP). The $135,845 donated in Q2 continues the year’s pattern of philanthropy and upholds the program’s tradition of strong performance and steady year-over-year growth. All totaled, an impressive $3.48 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 151 charitable organizations between April and June – including organizations that have been part of the program for a long time, as well as such first-time recipients as the Glen Rock Pops Orchestra, Nassan’s Place, Inc., Soroptimist International of Passaic Valley, Inc., Our Lady of Mt. Carmel in Lyndhurst, and the Kiwanis Club of Greater Parsippany Foundation, 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.
“Our Community Alliance Program continues to establish a connection between our bank and customers to the community,” Debra Cannariato, Senior Vice President of Boiling Springs Savings Bank. “We have seen tremendous growth within the program and we are confident it will continue to uphold our passion for philanthropy and community service.”