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 Sterling National Bank’s Not-for-Profit Services 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 of Commercial Banking at Sterling. “Our bank has a really experienced team and takes the time to learn about each organization.”
“In each relationship, we work closely with our clients and have a wealth of knowledge and a deep bench of talented professionals to help the not-for-profit achieve its goals, with solutions to grow or operate more efficiently,” adds Joseph Yewaisis, Senior Managing Director at Sterling.
Organizations working with Sterling 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.
To learn more about specialized services offered by Sterling for not-for-profits, visit snb.com/not-for-profit-services.