What is ableBanking?
ableBanking is a division of Northeast Bank, a community bank that was founded in Maine in 1872. Created by a group of former traditional bankers, ableBanking was created as a way to help its customers not only have a pleasant banking experience, but to be able to give to charity.
That’s right – a bank that gives.
ableBanking exists completely online, so there are no brick and mortar locations, no expensive overhead – and they’ve forgone the usual advertising approach of billboards, box seats and advertisements on television. With all of the money ablebanking saves with this business model, they are able to give their customers better rates and no fees!
ableBanking provides only savings accounts – in the form of personal money market accounts and CDs (6 month to 4 year terms) with interest rates ranging from .90% for the personal money market account to 1.5% for the 4 year CD (these rates are as of 09/11/2012). The charitable donations don’t have to wait until you cash in those savings accounts, though! Each time a customer opens a new savings account, ableBanking gives them $25 to donate to the charity of their choice!
Then you can also donate towards your favorite charity each year on your “ableAnniversary!”
Customers can donate the money the money saved to local charitable orgainization – as long as it is a 501(c)3 organization – like your children’s little league organization, your church, the local food bank or homeless shelter, really any 501(c)3 qualified charity that you can think of!
I would donate to the local Humane Society of Greater Miami, an organization that is very near to my heart!
I love the idea of a banking service that not only makes it easier for you to save by doing away with fees and by offering higher interest rates, and allowing you to donate to charity is just icing on the cake.
You can find out more about how ableBanking operates and how to open an account on the ableBanking website, or by liking the ableBanking Facebook page or following along on Twitter!
While this is a partnered post, all opinions are my own.
Wow, that is great!
This is great. I’m always looking for ways to save and it falls in line with my yearly donation to local nonprofits.
This is fantastic, I haven’t heard of banks doing this!
Love that you can donate it to the cause of your choice!
I’ve had never heard of this before. Thanks for the info!
What a neat bank! I love the charitable donation option, that is really wonderful!
It is so great that you can donate to a cause of your choice!
So cool that you can customize it to fit the charity you love!
That is awesome! I’ve never heard of a bank that donates like this.