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While not-for-profit organizations are the fabric of our communities, they are still businesses with banking needs. Not-for-profits must raise and manage money in the form of donations and endowments to ensure that their initiatives remain funded and sustainable. Add in a variety of unique complexities—from the influence of market conditions on donor behavior to the lean staffing models required to run them efficiently—and the need for a committed banking partner with deep expertise at all levels becomes clear.
Enter Webster Bank’s Not-for-Profit Banking team—part of its Commercial Banking group. “Many not-for-profit organizations struggle to find a bank that understands them and wants to learn about their programs and funding,” says John Murphy, Senior Managing Director and Co-Team Lead, Not-For Profit Banking at Webster. “Our bank has a really experienced team and takes the time to learn about each organization.”
“Our team works closely with not-for-profits, to understand their unique goals, provide strategic solutions to help achieve them, and support the constituents they serve,” adds Cathy Boyle, Senior Managing Director and Co-Team Lead, Not-For Profit Banking. “It’s particularly rewarding to visit these clients and see how Webster’s relationship with them has impacted their constituents.”
Organizations working with Webster have access to a dedicated relationship manager who serves as a single point of contact for all of their banking needs. They also have access to traditional services that have been uniquely tailored to them, including specialized credit policies that reflect their different credit profiles and goals.
Learn more about the specialized services offered by Webster for not-for-profits.