RUTHERFORD (Oct. 21, 2010) — On Sept. 15, Boiling Springs Savings Bank hosted its second-ever Community Alliance Program (CAP) event for all of the local nonprofits that are members of the award-winning CAP Program. The event was held to welcome new members and to allow existing members to share new ideas on how to gain more supporters for their organization. The evening also included a vendor showcase and the unveiling of the Boiling Springs Community Museum. Beyond Perks, the Dean Consulting Group, NationalCard Processing Systems, Glazer Design, Sound-N-Vision Designs and SuperCoups participated in the vendor showcase and presented services beneficial to non-profit organizations.
Boiling Springs revealed its museum, which will display artifacts from different local nonprofit organizations monthly in its corporate lobby. For the month of October, Rutherford’s 55 Kip Center will be on display and for the month of November, the Rutherford First Aid Ambulance Corp will be on display.
Later in the evening, the Rutherford Rotary Club presented an award to Robert E. Stilwell, president and CEO, commending CAP for the helpful donations that it has brought the organization. Since the Rotary met the requirements of CAP in 2008, it has earned more than $13,000 in donations. The Knights of Pythias Benjamin N. Cardozo Lodge #163 of Fair Lawn also presented Stillwell with memorabilia from their recent bike-a-thon/walk-a-thon.
The Community Alliance Program was established in 2006 and since the program’s inception Boiling Springs has donated more than $469,000 to the programs qualified members. In just four short years the program has grown rapidly and now includes 183 nonprofit organization members, in which nearly a third receive quarterly donations from Boiling Springs.
To participate in CAP is easy. A nonprofit merely needs to have or open a checking or savings account with Boiling Springs to receive donations, sign up to be part of the program and start soliciting donors. Donors are those supporters who have designated new or existing accounts at Boiling Springs to be used to calculate quarterly donations. The more accounts that are designated, the greater the donation. Donations from Boiling Springs to the nonprofit organization are based on the Average Daily Balance maintained by those supporters who have become members at an annual rate of ¼ percent on Certificates of Deposit, including IRAs, and Premium, Money Market Checking and all Business Accounts or ½ percent on Checking, Savings and Money Market Savings Accounts. The interest rate paid to the organization does not effect on the interest paid to the depositor in any way and all donation dollars come directly from Boiling Springs Savings Bank. For more information and to start reaping in the benefits of the program please visit your nearest Boiling Springs Savings Bank branch. Pictured above: Members of the Community Alliance Program listening to the opening speeches of the evening with Chairman of the Board, Ken Grimbilas, looking on in the distance.
Boiling Springs Savings Bank is a New Jersey chartered savings bank with $1.3 billion in assets. The bank is headquartered in Rutherford and has 17 branch locations in Bergen, Essex, Morris and Passaic counties. Boiling Springs offers a full suite of loan and deposit products, plus many services, including free online banking, Debit MasterCard and free bill pay services. For more information, visit www.bssbank.com or call 201-939-5000. Its deposits are insured by the FDIC.
— Submitted press release