Purpose-Driven Banking
Banking that Amplifies Your Mission.
At Bank of Washington, we understand the unique financial needs of nonprofit organizations. Whether you're managing donations, grants, or day-to-day operations, we offer a suite of accounts designed to support your mission with flexibility, transparency, and community-focused service. Our commitment to Do Good is at the heart of everything we do, and it’s why we created the Impact Account built to help nonprofits thrive.
Featured Account: Impact Account
Purpose-Driven Banking with No Limits
The Impact Account is designed specifically for nonprofits, helping your organization do more with every dollar. With no monthly maintenance fees, no transaction limits, and a competitive 2.00% Annual Percentage Yield (APY), you can keep more resources focused on the people and causes you serve. Whether you're managing donations, grants, or operating funds, the Impact Account helps your money work harder for your mission.
Account Highlights:
- Earn 2.00% APY on balances
- No Monthly Maintenance Fees with eStatements
- No Transaction Limits
- No Minimum Balance Requirement
- Digital Banking Included
- Positive Pay Included
- One Free Cash Management Service
- $25 Minimum Opening Deposit
- $5 fee per month for paper statements
Make Your Impact Go Further
Earn 2.00% APY while supporting your nonprofit's mission.
Minimum Opening Deposit: $25
APY: 2.00%
Interest Rate: 1.98%
Minimum Balance to Earn APY: Any Balance
APY (Annual Percentage Yield) is effective as of . APY is calculated using the daily balance method, based on minimum balance requirements. On checking and savings accounts, rates are subject to change without notice after account opening. Fees may reduce the earnings on the account.
Plus: These Included Traditional Benefits
- Account Alerts
- Mastercard Business Debit Card
- Daily Reporting
- Mobile Deposit
- Wire Module1
- QuickBooks® Integration
1 Wire Module provides the online service, each wire is subject to an additional wire transfer fee. Wire limits determined through a credit assessment.
Looking for more options?
Find Your Right fit.
Every nonprofit is unique - and so are your banking needs. That's why we offer a variety of additional account options designed to meet you where you are, whether you're just starting out or managing a growing organization. Explore these additional business accounts:
Frequently Asked Questions about Nonprofit Banking Solutions
Supporting your mission with smart, simple, and secure financial tools.
What types of nonprofit organizations qualify for banking solutions at Bank of Washington?
We welcome a wide range of nonprofit entities, including 501(c)(3) charitable organizations, religious institutions, educational foundations, civic groups, and other mission-driven organizations. If you're unsure about eligibility, our team is happy to guide you through the process.
What banking products are available for nonprofits?
Bank of Washington offers tailored solutions such as:
- Nonprofit checking and savings accounts
- ACH and wire transfer services
- Online and mobile banking
- Merchant services for donation processing
- Business debit cards
- Treasury management tools
Are there any fees associated with nonprofit accounts?
We strive to keep fees minimal for nonprofits. Our Impact Account has a $5 fee per month for paper statements, but with eStatements, that fee is waived. The Impact Account has no transaction limits and no minimum balance requirement. Contact us for a personalized fee structure.
How does Bank of Washington support local nonprofits beyond banking?
We’re proud to be a community-focused bank. We actively support a number of nonprofits through donations and event sponsorships. Also, through our Heroes Account program, we honor those who serve by supporting local charities that uplift our community’s real-life heroes. During select promotional periods, when people open and fund a Heroes account, we’ll donate $5 to a featured charity aligned with a specific hero classification - whether it's military, emergency response, health care, law enforcement, or education.. We believe in doing good—together.
Is there a minimum balance requirement for nonprofit accounts?
The Impact Account has no minimum balance requirement, making it accessible for organizations of all sizes. We also have a variety of other accounts. We'll help you choose the account that best fits your financial structure.
Can multiple board members or staff access the account?
Yes. We offer multi-user access with customizable permissions, so your team can manage finances securely and efficiently.
