Right now our bank provider is Chase. I have real concerns about banking with them.
They seem not very adept and supporting nonprofits as opposed to your typical for-profit corporation.
The bank itself does not have an explicit commitment to equity.
I did some research and two top contenders appear to be Springbank and Amalgamated.
Both are B-corps, have physical locations in NYC, and give access to ATMs.
I’m curious now about
- Customer service experience
- Support for nonprofits
- Online portal experience
- Links to accounting software like Quickbooks
- Permission levels for multiple users
- Recommendations from other nonprofits
- Financial literacy support
- How will the bank grow with us?
What else should we be paying attention to?
Note: Thank you to XR NYC for sharing about their most recent bank protests which sparked my doing research into this.
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