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Nonprofit Partner Donation Program
Summit State Bank is more than just your bank - we are your partner. We take serving our community very seriously, and are committed to making a difference, just as you are. We are actively involved in the charitable and community-based organizations that serve Sonoma County. We are a local community bank where you will find people who care deeply about the work you do, and we will work tirelessly to help you achieve your goals.
To help best serve your cause, we are pleased to offer our Nonprofit Partner Donation Program, a special deposit account program for 501(c)3 not-for-profit organizations to enhance your fundraising efforts. For these charitable organizations with Summit State Bank deposit accounts, we will make an annual donation of 25 to 75 basis points, based on your average annual account balance prorated for the portion of the year the account is opened.Specifically, our commitment to community-based nonprofits provides:
- 75 basis points paid on your non-interest bearing operating accounts*. Analyzed business accounts are included. For example, a $100,000 average balance Summit account would receive a $750 annual contribution.
- 25 basis points paid on your interest-bearing Summit savings, money market and interest-bearing demand deposit accounts. For example, a $100,000 average balance Summit account would receive a $250 annual contribution.
- If you require full FDIC insurance coverage for deposits greater than the maximum FDIC insurance amount, we offer Insured Cash Sweep ( ICS ) accounts which receive 65 basis points if non-interest bearing or 15 basis points if interest bearing.
When you bank with Summit State Bank, you are gaining a partner who will stand with you to help you reach your goals. Together, we can help make Sonoma County a better place to live for all members of our community.
Experience how easy and rewarding it is when you bring your nonprofit deposit accounts to Summit State Bank.
*Summit State Bank reserves the right to determine that an operating account's activity is reflective of true operational use and qualified to be considered for the 75 basis point reward. An operating account is typically used to record every day administrative and general income/expenses including payroll, employee benefits and pension contributions, travel and transportation, amortization and depreciation, rent, repairs, taxes; income/expenses from programs and services, e.g. Grants, informational services/training programs for community; fundraising event income/expenses.
In order to receive the annual donation, the benefiting account must be in an open status at the time of the donation payout.
Northern Sonoma County