First County Bank today announced a new suite of services for the highly specialized needs of the nonprofit community. Called Mutual Solutions for Nonprofit Professionals, this comprehensive suite of services will help enable nonprofit institutions to operate more effectively and efficiently, so they can concentrate their attention on fulfilling their mission.
Mutual Solutions for Nonprofit Professionals integrates investment management and fiduciary administration services into a comprehensive suite of services that will make the nonprofit organization more successful.
“First County Bank’s efforts in support of nonprofits go beyond providing grants through the First County Bank Foundation. The bank has a history of partnering with local businesses and organizations to help communities grow. Nonprofit organizations are an important part of the community and First County has been dedicated to serving this industry with pride for more than 160 years,” said Rey Giallongo, chairman and CEO of First County Bank. “So when we say we understand their needs, we say that from a truly unique perspective. It is with this experience that we are able to design a suite of products that will help nonprofits work more efficiently and effectively.”
“It’s a flawless system,” said Michael Kramberg, chief financial officer at the Stamford Jewish Community Center. “Mutual Solutions from First County is a very cost effective way to conduct my business banking.” Stamford JCC uses an assortment of Mutual Solution services, from business checking and wire transfers to remote deposit capture. “It offers an additional payment option for our members and allows us to easily process their payments, saving the JCC both time and money,” Kramberg explained.
“First County Bank will work closely to fully understand the individual nonprofit’s needs. Working together, the bank and agency will agree on setting financial goals for the current year and well into the future. With that vision, First County Bank will provide the tools to help make the nonprofit’s vision a reality,” added Katherine Harris, president and chief operating officer of First County Bank.
Mutual Solutions for Nonprofit Professionals is comprised of CommunityFirst Deposit Accounts, a series of banking products designed to meet the unique needs of nonprofit organizations. These products include: CommunityFirst Checking, a choice of interest bearing or non-interest bearing, flexible checking accounts to manage and track business expenses; CommunityFirst Savings and CommunityFirst Money Market. First County’s Zero Balance and Cash Concentration Accounts give the nonprofit professional the opportunity to minimize idle cash, save time and manage cash more effectively through automatic fund transfers between checking accounts.
First County Bank offers a wide range of nonprofit banking services, including: endowment and planned giving investment management; specialized administrative services; planned giving program development and administration (charitable trusts, gift annuity programs and pooled income funds); donor advised fund services; customized investment management; and value-added consulting services.
In addition, nonprofits benefit from First County Bank’s lending and finance departments for everything from facility improvements to real estate purchases. The bank also provides its nonprofit clients with cash management and merchant services, as well as online banking, credit card services, insurance and payroll services.