Boiling Springs Savings Bank Sees Strong Third Quarter Donations for Community Alliance Program - October 18, 2018
The $123,867 in Q3 continues the solid donations the bank has seen this year. Offering customers an innovative, cost-free way to support their favorite regional non-profits, the Community Alliance Program made payouts to 150 charitable organizations between July and September.
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 third quarter 2018 results for its award-winning, philanthropic Community Alliance Program (CAP). The $123,867 in Q3 continues the solid donations the bank has seen this year, and highlights the program’s tradition of philanthropy and community service. Since its inception in 2006, an impressive $3.6 million has been donated through the CAP program.
Offering customers an innovative, cost-free way to support their favorite regional non-profits, the Community Alliance Program made payouts to 150 charitable organizations between July and September.
Over its 12-year history, the Community Alliance Program has enrolled more than 460 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/or savings accounts.
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 dedication to philanthropy is reflected in our Community Alliance Program initiatives, whose uniqueness is a true differentiator for us,” said Debra Cannariato, Senior Vice President of Boiling Springs Savings Bank. “CAP has allowed us to establish meaningful connections with the communities we serve, and we’re delighted that the program continues to perform exceedingly well.”