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Stearns Bank Selects Spiral to Empower Communities and Support Nonprofits Through Everyday Banking

Spiral, the award-winning Impact-as-a-Service™ platform for financial institutions, today announced a partnership with Stearns Bank, a top-performing bank in the nation with a mission to innovate th...

Business Wire

Stearns Bank adds Spiral to allow consumers and businesses to donate to their favorite charities from their banking accounts and round up everyday purchases to support their communities while promoting and boosting digital donations to nonprofits.

NEW YORK: Spiral, the award-winning Impact-as-a-Service™ platform for financial institutions, today announced a partnership with Stearns Bank, a top-performing bank in the nation with a mission to innovate the banking landscape and transform the way nonprofits bank. This partnership is set to redefine banking engagement by turning everyday purchases into community contributions and introducing an innovative online Giving Center.

By integrating Spiral's Everyday Impact™, Stearns Bank enables its customers and businesses to effortlessly round up their purchases to support causes close to their hearts, directly benefiting local nonprofits and community initiatives, such as planting trees, feeding children, providing children’s books, and giving mental health support. Additionally, Stearns’ new Giving Center empowers its customers to easily donate to their preferred charities, organizations, and educational institutions directly from their Stearns personal and business online bank accounts. This innovative feature allows customers and businesses to tailor a personalized portfolio of causes, track their charitable impact, and get a donation report for tax purposes.

"We are thrilled to enhance our customers' digital experiences, providing simple and meaningful ways for them to impact their local communities and transform lives," said Adam Gill, Senior Product & Innovation Manager at Stearns Bank. "With Spiral, we're not just helping our customers make a difference they can feel good about; we're also empowering more local nonprofits to drive digital donations and elevate awareness for their vital missions. This integration also pairs nicely with the launch of our nonprofit campaign, featuring a one thousand dollar donation to nonprofits with active accounts."

Incorporating Spiral into its banking ecosystem also enables Stearns to create a lasting social impact within local communities and drive digital donations to nonprofits directly from the bank's customer base through fundraising campaigns, donation matching, and community-wide events.

"We're delighted to partner with Stearns Bank, a leader in community-driven banking and nonprofit banking solutions. Now, through Spiral, they help nonprofits raise more contributions and attract new donors, all while expanding their community involvement to empower customers and businesses to drive positive change through everyday banking," said Shawn Melamed, CEO and Co-founder of Spiral. "We look forward to helping more financial institutions amplify their community impact, boost digital engagement, and increase deposits from socially conscious consumers and businesses."

Spiral’s turnkey solutions integrate with leading digital banking providers and core systems. To learn more about Spiral’s platform, please click here.

About Spiral

Headquartered in New York City, Spiral is the award-winning Impact-as-a-Service™ platform that enables banks and credit unions to grow deposits and attract new accounts through community impact and financial wellness. With Spiral, financial institutions can positively impact the lives of their account holders and their communities through any online bank account, debit card, or credit card. Thus, Spiral makes it simple for financial institutions to drive positive change and empower millions of customers and businesses to contribute to a better world.

Spiral is spearheaded by fintech serial entrepreneur Shawn Melamed, a former Managing Director of Morgan Stanley's Technology Business Development and Innovation Offices. Their mission-driven team has deep banking, nonprofit, and fintech expertise, including Jim Rosenthal, the former COO of Morgan Stanley, who is part of Spiral's board. Spiral is backed by Team8, Euclidean Capital, Intuition Fund, Communitas Capital, Phoenix, Nidoco AB, MTVO, and more. To learn more, visit Spiral.us.

About Stearns Bank N.A.

Stearns Bank National Association is a $2.8 billion, independently owned financial institution with locations in Minnesota, Florida, and Arizona and over 35,000 small business customers nationwide. The bank specializes in full-service banking, affordable housing, workforce and multifamily housing, commercial construction lending, build-to-suit and CRE-repositioning lending, family office and lender financing, USDA and SBA lending, small business and equipment financing. As a mission-driven organization, Stearns Bank offers a suite of Nonprofit Banking Solutions specially designed to empower nonprofit organizations across the country. For more information, visit StearnsBank.com.

Fonte: Business Wire

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