Sonabank Creates Community Believers Program to Support Nonprofits
Bank launches innovativepackage of products & services
designed to meet unique financial needs of nonprofit organizations
Richmond, Va. (June 4, 2018) – Many banks know that nonprofit organizations have unique financial needs. But only one financial institution, Sonabank,has created Community Believers, an innovative program that provides a custom-designed package of integrated financial products and marketing services to help nonprofits grow and excel.
The Community Believers initiative evolved from Sonabank’s desire to build and maintain strong partnerships with nonprofits in communities where the bank is located.
“We conducted focus groups with over 25 nonprofitsin the Richmond and Hampton Roads regions to find out what they really want in a long-term banking relationship and how Sonabank could help them accomplish their respective missions to be successful,” said Joe A. Shearin, CEO of Sonabank. “As a result of that in-depth research, we developed the Community Believers program of financial products, tools and resources to demonstrate that we understand their world and we support what they are doing.”
There is no fee to enroll in the Community Believers program at Sonabank, which includes many benefits for nonprofit members:
- Dedicated Website and Exclusive Resources: At CommunityBelievers.com, participants can post volunteer positions and event calendar details, access a members-only directory to collaborate with other nonprofits and share information, cross-promote volunteer opportunities with Sonabank employees, request use of Sonabank conference rooms for meetings during banking hours, meet with consulting and human resources professionals at Sonabank, and more.
- Community Believers Merchant Services: Sonabank’s partnership with BluePay Merchant Services gives nonprofits the ability to accept donations remotely while maintaining the security, flexibility and customer service that the organization’s stakeholders require.
- Community Believers Checking: Free checking with no monthly fee, no balance requirement and no limit to the number of transactions per month; pays interest on the balance so nonprofits can keep their hard-earned donations working for the organization’s mission.
- Community Believers Loan Program:Sonabank will tailor a loan or extend a line of credit based on the nonprofit organization’s unique financial story, plans and capacity.
- Kasasa in the Community: Nonprofits can give their employees rewards like free checking, refunds on ATM purchases national wide and other benefits with Kasasa packages that are available at Sonabank.
In addition to the benefits and services listed above, Sonabank’s local offices will select a “Nonprofit of the Month” to feature in various ways at the branch, providing an opportunity to connect the nonprofit with the bank’s employees and customers.
“Relationships are very important to us and we know the people who work at Sonabank,” said K Alferio, president of The Cultural Arts Center at Glen Allen in Richmond. “They don’t just sponsor something and walk away. They really want to get involved in the community and get to know our business. Bringing nonprofits together through the Community Believers program allows us to share our strengths, our issues, our challenges and our solutions. That’s what sets Sonabank apart from other banks and businesses in our region.”
“Thesenonprofit organizations are improving the quality of life for individuals and families in our communities. Our goal for Community Believers is to make their work easier with effective banking solutions that address their current and future needs,” said Michelle Simon, senior vice president and chief marketing officer at Sonabank. “Sonabank wants to be right there beside them as a business partner, helping them achieve their financial goals and believing in them every step of the way.”
To learn more or to enroll in Community Believers, contact a local office of Sonabank or visit www.CommunityBelievers.com.
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Sonabank is a Virginia state-chartered bank which commenced operations on April 14, 2005. Sonabank provides a range of financial services to individuals and small and medium sized businesses. As of December 31, 2017, Southern National had $2.06 billion in total loans, $2.61 billion in total assets, $1.87 billion in total deposits and $322.8 million in total stockholders’ equity. At December 31, 2017, Sonabank had thirty-eight full-service retail branches in Virginia, located in the counties of Chesterfield (2), Essex (2), Fairfax (Reston, McLean and Fairfax), Gloucester (2), Hanover (3), King William, Lancaster, Middlesex (3), New Kent, Northumberland (3), Southampton, Surry, Sussex, and in Charlottesville, Clifton Forge, Colonial Heights, Front Royal, Hampton, Haymarket, Leesburg, Middleburg, New Market, Newport News, Richmond, South Riding, Warrenton, and Williamsburg, and seven full-service retail branches in Maryland, in Rockville, Shady Grove, Bethesda, Upper Marlboro, Brandywine, Owings and Huntingtown.For more information, visit sonabank.com.
Media contact: Sara Hunt, SaraHuntPR@gmail.com, 804-994-1120