Customized Services for Not-for-Profit Organizations
Additional Services for Not-for-Profit Organizations
Sterling National Bank is known for the extraordinary service we give our customers. Our specialty group dedicated to serving the Not-for-Profit community has experience and expertise with the challenges facing many types of community organizations, including hospitals, nursing homes, houses of worship, private and parochial schools, social service agencies and cultural institutions. From loans to help bridge receipt of grant funds and financing accounts receivable from a variety of payment sources, to dealing with the effects of changing reimbursement methodology, we work closely with our clients to customize products to meet their needs.
Sterling National Bank offers many special services for community groups, including courier deposit pick-up on a daily or as-needed basis and resident need accounts. We welcome the opportunity to discuss how our customized products and services can help your organization.
School Tuition Accounts
Sterling National Bank offers a simple, yet effective program for private colleges, high schools and parochial schools to collect tuition. The Bank acts as collecting agent to accept monthly tuition payments directly by mail, in person at any Sterling National Bank Financial Center or through Preauthorized Direct Deposit. Payments come directly to the Bank for deposit in the school’s operating account. Schools receive weekly statements showing all tuition payments received and other account activity. Sterling National Bank will also provide tuition coupon books for each student listing the school name, Sterling National Bank account number, the amount of the student’s monthly tuition and due date. Payments can be mailed in monthly or made in person at any Sterling National Bank Financial Center. Sterling National Bank customers can also choose to have the amount automatically deducted from a checking or savings account. This service is convenient for parents, guardians and students for paying tuition and makes funds available faster for schools.
Sterling National Bank's School Tuition Accounts provide:
Convenient methods of payment
- Coupon books
- Automatic deduction
- In person at any Sterling National Bank Financial Center
Benefits for schools
- Eliminates the need to collect and deposit payments
- Improves cash management
- Facilitates accurate record keeping
- Provides safety, convenience and efficiency
Resident Home Accounts
Sterling National Bank provides a convenient and effective program to assist nursing homes with the management and tracking of resident accounts. Our Resident Home Account program offers nursing homes the option of three different types of dedicated checking and/or savings accounts for each resident, as well as easy-to-read reports and concise statements for each account. Nursing homes benefit from Sterling National Bank's expertise and experience, as well as its highly personal service and responsiveness.
Resident sub accounts
- Resident ACH Deposit - Tracks all incoming pension and Social Security payments
- Resident Savings - Tracks all monthly transfers (debits and/or credits) as directed by the nursing home
- Resident Burial Funds - Track funds for burial expenses
- Concise, easy-to-read reports: Comprehensive monthly reports for each sub account identifying incoming ACH activity, as well as current Ancillary Savings and Pre-Need/ Burial balances
- Resident Sub-Account Statements: Ancillary Savings and Pre-Need /Burial statements
- Accurate, reliable and responsive service
- Efficient processing and monitoring systems
- Streamlined recording and maintenance of resident accounts
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To learn more about Sterling National Bank's specialized municipal banking services, please contact the Financial Center nearest you.