March 18, 2012
On-line Banking That Gives Back Right Off the Bat:

Six charities to receive donations via new on-line


“Most banks give only .025% to charity.  Can you believe that?” asked Rick Wayne, President and CEO of Northeast Bank in Greater Boston, when I met him last week.  “Our new all on-line savings platform, ableBanking, will give $25 to the charity of your choice as soon as you open an account.  Then we’ll give .25% of the bank’s assets every year thereafter.”  That’s ten times more than the average, I noted.  “For ableBanking (a division of Northeast Bank) philanthropy is a core value,” explained Wayne.


If a customer isn’t sure where to give, at the tap of a button he or she can chose from a suite of six well-researched Boston-area non-profits, which will rotate periodically.  Customers can designate their own favorite non-profits, as well, as long as they have 501c3 tax status.  At any time the customer wishes, a gift from his or her personal account will transfer straight into the charity’s account,  avoiding the delay of putting a check in the mail.  Charities like the Greater Boston Food Bank, Jewish Vocational Services and Mass. Society for the Prevention of Cruelty to Children have been selected by distinguished philanthropic leaders for the bank’s own distribution. 


The on-line savings bank will launch this spring.  Sign up here to find out when.  I may be the first one to set up savings accounts for my children!  I can’t wait to see which charities they will chose!


For more on Able Banking and for a video of their suggested charities see: