Nonprofits are always looking for more money. It is a constant struggle to raise the money they need to stay in business. I’m on a board of a couple of organizations so I know about this struggle first hand.

At the end of the year, we all see tons of asks for money. It is good for the charities because everyone is in a giving spirit and it is good for the individual because donating gives you a tax write off. It is a win win situation.

But, this also means that January is the hardest month on nonprofits as giving dives to a yearly low as people dig out from holiday shopping debt.

ableBanking is a new kind of bank that has just announced a promotion to give some of your favorite Massachusetts based nonprofits a boost of cash in this new year.

Jump on over to ableGiving.com and nominate your favorite Massachusetts nonprofit. Then encourage your friends and family to nominate that same charity (or their own that they are passionate about). The five most nominated organizations will each get $1,000. Hurry though because you only have until January 31st to get in your nominations.

I had never heard of ableBanking before a couple of weeks ago when I got hired to help spread the word about this promotion. Part of this reason is because it isn’t open yet. Makes sense why I never heard of it.

Founded by three former traditional bank executives, this is an online only bank with only savings accounts. This means you don’t have to leave your current bank and at the same time in addition to getting good rates, the bank will be donating to your chosen charity on a yearly basis.

ableBanking was founded on the belief that customers:

• Don’t need brick and mortar branches to bank anymore.
• Should be earning more for their money and not paying ridiculous fees.
• Would be appalled if they knew how much money their banks spend on advertising and would rather see their bank give those marketing dollars to worthy causes in the community.
• Know the needs of their own communities better than banks – so why not let every customer choose where to donate in the community.

What really got my attention was that they only require $250 to open an account and they instantly donate $25 to the charity of your choice. Then every year they will make another donation on the anniversary of you opening your account to the charity of your choice in the amount of 0.25% of your average balance. That sounds like an amazing perk to me.

I’ve signed up to be notified when they start accepting accounts because I’m curious to check it out. I had the chance to talk to one of the founders on the phone and I’m excited about the possibilities. I just hope the idea works and spreads because it is a great one, but only time will tell if they’ll be able to get enough accounts to keep it going.

If nothing else, please be sure to go to ableGiving and nominate your favorite nonprofit.

I personally nominated Wediko of which I’m a proud member of their Board. If you don’t have anyone to nominate, I’d be very happy if you would nominate them as well.

Disclosure – I’m being compensated for sharing this promotion with my audience. All thoughts and comments are my own. That being said, I really believe in what they are trying to do and hope it works out. If nothing else five local nonprofits are going to get a nice donation to start off the new year.