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Associated Bank and Nonprofits can partner to reach communities and the people they serve.
Nonprofits partner with banks to access treasury management services, lending options and specialized accounts that fit their size and automation needs. But the relationship can be more than that. Together, they can reach community goals and the people and causes these nonprofits serve.
It’s important to be involved in your community. But more than that, it’s important to listen to those in community leadership positions.
It’s the leaders of nonprofits, organizations and higher education institutions who know how to deploy new ideas and initiatives that can really move the needle in our communities.
They strategize with their board members and other stakeholders to make as big of an impact as possible. They talk regularly with business leaders to understand how corporations align with nonprofits to give time, talent and treasure.
It’s the leaders of the nonprofits who must navigate a complex regulatory landscape, submit grant applications and advocate for policy changes—often more than traditional commercial and industrial companies do.
We can learn a lot from our nonprofit leaders if we just listen.
Our work with nonprofits has taught us that there are a few “hot topics” that they care about when it comes to banking relationships.
- The corporate/social responsibility strategy of the bank.
- The ways the bank has demonstrated that they put in the time, money and talent to support that strategy.
- Top executives who serve the community with board seats and volunteerism.
- A local team of support professionals who know how to quickly triage issues.
- Whether the bank has a dedicated team that understands the nuances of nonprofits, including understanding how nonprofits manage their cash and when they need lending services.
- Checking and savings accounts specifically designed to meet the needs of nonprofits of all sizes.
- Bank products and services that sync with their enterprise resource planning (ERP) systems and donor management software.
At Associated Bank, we have teams that specialize in working with many kinds of educational and community nonprofits. They understand the banking needs, wants and desires for these organizations. The team advocates for the bank to invest in top talent and technology that will support these clients by automating finance and reporting functions while promoting a growth mindset.
Furthermore, Associated Bank equips its teammates with the tools to help nonprofits keep on top of their finances: fraud prevention seminars, deep-dives into AP/AR processes and consultations on next-level technology.
It’s this kind of partnership, united by a common concern for the community, that can help banks and nonprofits meet their goals and better assist the people and causes they serve.
