• • "Local" means something different to Nashua LUG than to Hanover LUG: grudging, 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.
    • Yes, that's what "at least one local branch" means. At least one branch local to a LUG. "the more, the better" means more branches local to LUGs is better. -- BenScott - 03 Nov 2007

Formal requirements checklist

• our qualifications
  • NH registered non-profit
  • no IRS 501(c) status as of yet
• features
  • two-signature checks?
    • is signature authorization enforced?
  • pool of possible signatories?
  • option to waive any interest?
• account requirements and costs
  • how much do checks cost?
  • minimum balance?
  • initial fees?
  • reoccurring fees?
  • transaction limits/costs?
  • other requirements/costs?
• procedure to open account?
  • everyone in person vs one guy couriering forms
  • documentation needed?

Big banks

• Citizen's Bank
  • Branches include: Nashua, Portsmouth, Concord, Lebanon, Milford (not Peterborough), Keene, Lincoln (not Littleton), North Conway (not Jackson), Colebrook, Berlin

• TD BankNorth
  • Branches include: Concord, Contoocook, Conway, Dover, Keene, Laconia, Loudon, Manchester, Milford, Nashua, Salem

• • Branches in southern NH; affiliates in ME, VT, and ME
    • Including: Amherst, Concord, Dover, Exeter, Keene, Manchester, Milford, Nashua, Peterborough
    • Nothing North of Concord, though
  • For non-profit org: No monthly fee; large number of free transactions; no minimum balance; two-signature checks

Local credit unions

Disqualified

• Service Credit Union
  • Individuals only (no organizations)
  • Open to anyone in NH
  • "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

• • • • 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.

• • "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.

• • • "Community Checking" plan is supposedly fee-free and interest-bearing, though interest could be waived.

• • Ocean National Bank
    • Ocean National Bank
    • Branches or ATMS in NH and ME.
    • Tiered services available (some at higher costs per month - Tier 1 is fee free)

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
• 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
    • "Business Green Checking" supposedly fee-free
  • TD BankNorth
    • Non-profit option supposedly fee-free
    • We could park in the "Bank Customers Only" lot next to Martha's
• Local credit unions
  • In general, these tend to have:
    • Better customer service
    • Fewer branches/ATMs
    • Some form of membership requirement (but sometimes quite easy)
  • Service Credit Union
    • Open to anyone in NH
    • "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
  • St. Mary's Bank
    • Open to anyone in NH
    • "Community Checking" plan is supposedly fee-free and interest-bearing
    • Home in Manchester; branches in Manchester (3), Nashua, Hudson, Londonderry, Milford
    • Member, CO-OP and SUM ATM networks
    • Web site has trouble in Firefox
  • Triangle Credit Union
    • Requirement: Residence; Merrimack county qualifies
    • "Non Profit Checking" supposedly fee-free
    • Home in Nashua; branches in Manchester and Amherst
    • Several own ATMs in Nashua/Manchester area
    • Member, CO-OP ATM network
  • Granite State Credit Union
    • Open to anyone in NH
    • "Community Checking" is supposedly fee-free for non-profits
    • Branches in Nashua, Manchester, Amherst, Candia, Seabrook
    • Member, SUM and CO-OP ATM networks
  • 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
  • Digital Federal Credit Union
    • Requirement: community or org; we do not qualify
  • FAA Eastern Region FCU
    • Requirement: Participating organizations (not us)
  • New Hampshire Federal Credit Union
    • Requirement: Participating organizations (not us)