• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Choosing A Bank For Your Nonprofit
 

Choosing A Bank For Your Nonprofit

on

  • 2,184 views

MBO means Mission Based Organization

MBO means Mission Based Organization

Statistics

Views

Total Views
2,184
Views on SlideShare
2,011
Embed Views
173

Actions

Likes
0
Downloads
3
Comments
0

5 Embeds 173

http://thethirdsector.blogspot.com 165
http://www.thethirdsector.blogspot.com 3
http://www.slideshare.net 2
http://thethirdsector.blogspot.ca 2
http://thethirdsector.blogspot.co.uk 1

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Choosing A Bank For Your Nonprofit Choosing A Bank For Your Nonprofit Presentation Transcript

    • Choosing a Bank for your MBO When anywhere won’t do!
    • Choosing a Bank for your MBO
      • Most MBO’s don't thoroughly consider their needs when selecting a financial institution.
      • Although their are laws and regulations that govern the activities of banks, savings and loans, credit unions and investment firms - not all financial institutions are the same!
    • Choosing a Bank for your MBO
      • Each institution establishes its own policies for:
      • types of products and services that are offered,
      • criteria for qualifying for a loan,
      • minimum balances for accounts,
      • interest rates and
      • charges for account services.
    • Choosing a Bank for your MBO
      So while one bank may specialize in home loans, or auto loans another may focus on commercial loans for businesses. Some banks may only offer basic deposit accounts while others have lock box services, sweep accounts, and even online banking!
    • Bank Services:
      Selecting an institution that you can work with will be especially important as your MBO grows.
    • Choosing a Bank for your MBO
      • Approach the decision as a long-term investment.
      • Look for a complementary personality, someone you can relate to.
      • Introduce yourself to the banking center manager. If you are looking for a loan, ask to meet the loan officer that will be assigned to you.
      • Find out how long they have been in their current position (bank managers and officers change locations and get promoted).
      • Tell them about your MBO so they can tell you what special products and services might apply.
    • Choosing a Bank for your MBO
      • Remember, it is a good idea to establish a relationship with a banker, before you need money!