Bank / Credit Union

Stearns Bank intros nonprofit banking solutions

August 28, 2023

Stearns Bank N.A., based in Minnesota, has launched its Nonprofit Banking Solutions suite of services. The solutions include financing options, customized credit cards, high-yield interest bearing deposit accounts, free checks, same-day and next-day ACH origination, free unlimited wires, five free international wires per month and more, according to a press release.

Nonprofits will have access to mobile and online banking with no minimum balance requirements, hidden fees, maintenance fees or inactivity fees. The bank will also donate $1,000 to each organization that maintains one solution for a full 12-month period, with recurring donations for every subsequent 12 months.

"At Stearns Bank, we have extensive experience with nonprofits and a keen understanding of the vast diversity among nonprofits across the country — each has a distinctive mission and goal along with differing operational demands, varying capital capacity and financing needs, and evolving donation and revenue streams," Kelly Skalicky, president and CEO of Stearns Bank, said in the release.