(r4) BankAccount < Org

Org Web>BankAccount (revision 4) (raw view)~~EditAttach~~
Now that we're a real LegalEntity, we're supposed to get a bank account.

---++ Banking needs

We're basically just looking for a checking account.  Doesn't have to earn interest.  Don't care about bells-and-whistles.  We just need a place to put a (very) little money, and the ability to write checks against that.

---++ Bank selection criteria

   * Must be fee-free; we cannot afford anything else
   * At least one local branch; the more, the better
      * "Local" means something different to NashuaLUG than to HanoverLUG: grudginlyg, we might work with a bank with only one location in Manchaster; ideally, we'd have a bank within a short commute to every town.
   * Should be friendly towards non-profit orgs
   * Good customer service is always a plus

---++ Candidates

   * Big banks
      * _In general_, these tend to have:
         * Poorer customer service
         * More branches/ATMs
         * More sophisticated services available (but we are unlikely to need any)
      * Bank of America
         * Very high density of local branches and ATMs
         * All published options charge fees
      * Citizen's Bank
         * Good density of local branches and ATMs
            * Closest to LUG's: Nashua, Portsmouth, Concord, Lebanon, Milford (not Peterborough).  Past or rumored LUG's: Keene, Lincoln (not Littleton), North Conway (not Jackson).  Future: Colebrook, Berlin.
         * "[[http://www.citizensbank.com/bb/checking/business_green_checking.aspx][Business Green Checking]]" supposedly fee-free
      * TD !BankNorth
         * [[http://www.tdbanknorth.com/small_business/checking_non_profit.html][Non-profit option]] supposedly fee-free
         * We could park in the "Bank Customers Only" lot next to Martha's ;-)
      * Ocean National Bank
         * [[http://www.eocean.com][Ocean National Bank]]
         * Branches or ATMS in NH and ME.
         * Tiered services available (some at higher costs per month - Tier 1 is fee free)
   * Local credit unions
      * _In general_, these tend to have:
         * Better customer service
         * Fewer branches/ATMs
         * Some form of membership requirement (but sometimes quite easy)
      * [[http://www.servicecu.org/][Service Credit Union]]
         * Open to anyone in NH
         * "[[http://www.servicecu.org/checking-new.asp][Service Checking]]" supposedly fee-free, no-min-bal
         * Home in Portsmouth; branches in Portsmouth (4), Manchester, Bedford, Salem (2), several more
         * 15+ own ATMs in the area
         * Member, SUM and CO-OP ATM networks
         * Poor Nashua presence
      * [[http://www.stmarysbank.com/][St. Mary's Bank]]
         * Open to anyone in NH
         * "[[http://www.stmarysbank.com/business/checking/default.asp][Community Checking]]" plan is supposedly fee-free *and interest-bearing*, though interest could be waived.
         * Home in Manchester; branches in Manchester (3), Nashua, Hudson, Londonderry, Milford
         * Member, CO-OP and SUM ATM networks
         * Web site has trouble in Firefox
      * [[https://www.trianglecu.org/][Triangle Credit Union]]
         * Requirement: [[https://www.trianglecu.org/site/about_us.html][Residence]]; Merrimack county qualifies
         * "[[https://www.trianglecu.org/site/business_accts.html][Non Profit Checking]]" supposedly fee-free
         * Home in Nashua; branches in Manchester and Amherst
         * Several own [[https://www.trianglecu.org/site/contact_atm.html][ATMs]] in Nashua/Manchester area
         * Member, CO-OP ATM network
      * [[https://www.gscu.org/][Granite State Credit Union]]
         * Open to anyone in NH
         * "[[https://www.gscu.org/asp/products/product_2.asp][Community Checking]]" is supposedly fee-free for non-profits
         * Branches in Nashua, Manchester, Amherst, Candia, Seabrook
         * Member, SUM and CO-OP ATM networks
      * [[http://www.necu.org/][Northeast Credit Union]]
         * Open to anyone in NH
         * Home in Portsmouth; branches in Manchester, Concord, Exeter, more
         * Several own ATMs in areas served by branches
         * Member, SUM and CO-OP ATM networks
         * Published services would involve fees, but no mention of non-profit org plan
      * [[https://www.dcu.org/][Digital Federal Credit Union]]
         * [[https://www.dcu.org/infodesk/membrshp/eligibil.html][Requirement]]: community or org; we do not qualify
      * [[http://www.faaeasternregionfcu.org/][FAA Eastern Region FCU]]
         * [[http://www.faaeasternregionfcu.org/asp/membership.asp][Requirement]]: [[http://www.faaeasternregionfcu.org/asp/services/service_2_6.asp][Participating organizations]] (not us)
      * [[http://www.nhfcu.org/][New Hampshire Federal Credit Union]]
         * [[http://www.nhfcu.org/interior.php/pid/7/sid/35][Requirement]]: Participating organizations (not us)
Topic revision: r4 - 2007-10-27 - BillMcGonigle
Site Tools
Search site
Site changes
Webs
GNHLUG
Main
Org
TWiki
Contact GNHLUG
All content is Copyright © 1999-2025 by, and the property of, the contributing authors.
Questions, comments, or concerns? Contact GNHLUG.
All use of this site subject to our Legal Notice (includes Terms of Service).