INB Benefit Accounts Can Keep Memories Alive

1/26/2018

By Marsha Shomidie
VP, Pleasant Plains Branch Manager
NMLS# 662908

Danielle Elizabeth Allen Memorial 5KAfter Pleasant Plains high schooler Danielle Allen passed away, her family decided to honor her young life with a community-wide fundraising event.

To provide scholarships in her name, the Danielle Elizabeth Allen Memorial Account was opened at INB’s Pleasant Plains branch. A fundraising walk is now held annually, and the benefit account is open year-round to accept donations that will be gifted as scholarships to local students.

How to Set Up a Benefit Account

A benefit account at INB is a specialized account that can be opened at any INB branch to accept donations on behalf of an individual, family or community group. INB establishes benefit accounts for bank customers who have had an account relationship with INB for at least one year.

Based on length of time the account will be open and how it’s titled, a benefit account can be established as either a personal or business account. Depending on which account you choose, balance requirements and fees could apply. We’ll be happy to walk you through these details and choose the account which works best for your situation.

Deposits to the account can be mailed to INB or made in person at any of our branches.

We have the ability to set up a benefit account with digital banking, giving you online and mobile access to the funds and records. Because benefit account holders need to write checks to pay medical bills or other associated expenses directly from the account, we can even order checks for the account.

While online fundraising tools, such as GoFundMe, offer some convenience, these platforms typically take a percentage of each donation as a fee, and there may be some limitations with accessing the money.

At your request, we can keep track of each donation made to the benefit account, which is helpful for our customers who want to reach out with a heartfelt thank you note. Not only that, but our bankers and tellers also express gratitude to donors who give to our benefit accounts, adding another personal touch.

Whether it’s to fundraise for a worthy cause or to help with medical expenses or costs after a personal disaster, INB benefit accounts give both donors and recipients convenience and flexibility. Just stop in and see us at INB to get started!

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