Money Matters: Choosing the right bank for a nonprofit

Photo courtesy Oregon Pacific Bank

(Sponsored by Oregon Pacific Bank)

By Kelli Warner & Christine Sherk

Tanci VanCamp was in the process of buying a house in 2020 when the business where she had been working for a decade closed. Suddenly unemployed, she switched gears quickly, using the money set aside as the house down payment to start a nonprofit business, 4 A Cause Thrift Shop, in southwest Medford.

Not only would she pay it forward to her community by offering needed items at thrift store prices, but she would also use a portion of her profits each month to support other nonprofits in the community, the ones that needed attention the most.

How to start the nonprofit, however, was all new to Tanci. Nonprofits have very specific goals in how they operate and what they want to achieve, so having a trustworthy financial institution is essential.

Tanci weighed several factors when choosing a bank: their experience working with nonprofits, whether they had accounts tailored to nonprofits, any associated fees, and whether they aligned with her mission and values in giving back to the community. As a community bank that has help many local nonprofits, Oregon Pacific Bank checked all Tanci’s boxes.

“What drew me to Oregon Pacific Bank is when I went on their website and I saw their community involvement, the fact that they actually go out and volunteer, and I thought that was pretty amazing and that they fit in with what we wanted to do, which is be helpful to our community,” Tanci says.

Community banks in Oregon donate millions of dollars each year to nonprofits and community groups, and bankers who work for those community banks volunteered approximately 64,000 hours last year alone.

Tanci’s banker is Dawn Hartley, Vice President and Relationship Banking Officer at OPB’s Medford branch. Dawn jumped right in and helped Tanci on the financial side, in terms of what she wanted to do. She also helped Tanci with establishing a point-of-sale system for her nonprofit business.

As a community bank, Dawn says, OPB recognizes the important work charitable organizations, like hers, do in the local community.

“I see a difference every day for the people who are struggling and the people who are thriving. So, to help her start up with her banking needs, it was a lot of fun to see how she started and how her nonprofit has been growing since then,” Dawn says.

“I love that when I call Oregon Pacific Bank that they know who I am and they’re ready to assist me,” Tanci adds.

OPB makes it a point to let nonprofits know about specialized services and products that can help them accomplish their goals. “We can help you with your banking needs, and it’s going to make it a lot easier for you,” Dawn says.

Learn more about banking solutions for nonprofits at Oregon Pacific Bank.

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