Online Bank Offering Charity Donations to Draw New Accounts

A new online bank is aiming to expand its clientele by promising to make initial and annual contributions to a charity of the customer’s choice, writes The New York Times.

AbleBanking, a division of Northeast Bank, will contribute $25 when a new account is opened with minimum deposit of $1,000, and give the selected charity an additional yearly donation equal to 0.25 percent annual percentage yield of the account’s average balance.

Co-founder and CEO Richard Wayne said the charity offer will be a permanent component of the AbleBanking’s operations. The bank’s founders say it will fund the giving by forgoing expensive billboard and television ads in favor of largely online marketing.

Read More

Leave a Comment

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>