Stearns Bank Selects Spiral to Empower Communities and Support Nonprofits Through Everyday Banking
May 14 2024 - 8:37AM
Business Wire
Stearns Bank adds Spiral to allow consumers and
businesses to donate to their favorite charities from their banking
accounts and round up everyday purchases to support their
communities while promoting and boosting digital donations to
nonprofits.
Spiral, the award-winning Impact-as-a-Service™ platform for
financial institutions, today announced a partnership with Stearns
Bank, a top-performing bank in the nation with a mission to
innovate the banking landscape and transform the way nonprofits
bank. This partnership is set to redefine banking engagement by
turning everyday purchases into community contributions and
introducing an innovative online Giving Center.
By integrating Spiral's Everyday Impact™, Stearns Bank enables
its customers and businesses to effortlessly round up their
purchases to support causes close to their hearts, directly
benefiting local nonprofits and community initiatives, such as
planting trees, feeding children, providing children’s books, and
giving mental health support. Additionally, Stearns’ new Giving
Center empowers its customers to easily donate to their preferred
charities, organizations, and educational institutions directly
from their Stearns personal and business online bank accounts. This
innovative feature allows customers and businesses to tailor a
personalized portfolio of causes, track their charitable impact,
and get a donation report for tax purposes.
"We are thrilled to enhance our customers' digital experiences,
providing simple and meaningful ways for them to impact their local
communities and transform lives," said Adam Gill, Senior Product
& Innovation Manager at Stearns Bank. "With Spiral, we're not
just helping our customers make a difference they can feel good
about; we're also empowering more local nonprofits to drive digital
donations and elevate awareness for their vital missions. This
integration also pairs nicely with the launch of our nonprofit
campaign, featuring a one thousand dollar donation to nonprofits
with active accounts."
Incorporating Spiral into its banking ecosystem also enables
Stearns to create a lasting social impact within local communities
and drive digital donations to nonprofits directly from the bank's
customer base through fundraising campaigns, donation matching, and
community-wide events.
"We're delighted to partner with Stearns Bank, a leader in
community-driven banking and nonprofit banking solutions. Now,
through Spiral, they help nonprofits raise more contributions and
attract new donors, all while expanding their community involvement
to empower customers and businesses to drive positive change
through everyday banking," said Shawn Melamed, CEO and Co-founder
of Spiral. "We look forward to helping more financial institutions
amplify their community impact, boost digital engagement, and
increase deposits from socially conscious consumers and
businesses."
Spiral’s turnkey solutions integrate with leading digital
banking providers and core systems. To learn more about Spiral’s
platform, please click here.
About Spiral
Headquartered in New York City, Spiral is the award-winning
Impact-as-a-Service™ platform that enables banks and credit unions
to grow deposits and attract new accounts through community impact
and financial wellness. With Spiral, financial institutions can
positively impact the lives of their account holders and their
communities through any online bank account, debit card, or credit
card. Thus, Spiral makes it simple for financial institutions to
drive positive change and empower millions of customers and
businesses to contribute to a better world.
Spiral is spearheaded by fintech serial entrepreneur Shawn
Melamed, a former Managing Director of Morgan Stanley's Technology
Business Development and Innovation Offices. Their mission-driven
team has deep banking, nonprofit, and fintech expertise, including
Jim Rosenthal, the former COO of Morgan Stanley, who is part of
Spiral's board. Spiral is backed by Team8, Euclidean Capital,
Intuition Fund, Communitas Capital, Phoenix, Nidoco AB, MTVO, and
more. To learn more, visit Spiral.us.
About Stearns Bank N.A.
Stearns Bank National Association is a $2.8 billion,
independently owned financial institution with locations in
Minnesota, Florida, and Arizona and over 35,000 small business
customers nationwide. The bank specializes in full-service banking,
affordable housing, workforce and multifamily housing, commercial
construction lending, build-to-suit and CRE-repositioning lending,
family office and lender financing, USDA and SBA lending, small
business and equipment financing. As a mission-driven organization,
Stearns Bank offers a suite of Nonprofit Banking Solutions
specially designed to empower nonprofit organizations across the
country. For more information, visit StearnsBank.com.
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