The Non Profit & Healthcare Division was formed in 1994 and is the largest specialty lending division within Citizens, providing a full range of banking services to non profit institutions across the bank’s 12-state franchise in New England, the Mid-Atlantic and the Mid-West.
Citizens Bank’s IDEAS NP (Ideas and Solutions for Non Profits) Program reflects Citizens Bank’s Non Profit Division’s unique approach and commitment to providing customized ideas and solutions to a broad range of Non Profits’ needs.
IDEAS NP is a bold package of credit and non-credit solutions for Non Profits. If a Non Profit needs to borrow, Citizens’ Debt Capacity Analysis can be the first step in providing multiple financing options that can include tax-exempt bonds and leases, traditional term or construction loans, and lines of credit.
Non-credit solutions include managing Endowments as small as $1 million, Lockbox, Positive Pay, ACH, and Remote Deposit operating services, merchant card services for organizations collecting funds via credit cards, Health Savings Account record keeping for high deductible health insurance plans, and commercial credit cards to simplify payables processing.
Citizens’ success in serving Non Profits is evidenced by over 650 Non Profit customers throughout New England, with over $1.5 Billion of credit commitments and over $1 Billion of deposits.
Citizens’ full range of services includes:
- Tax Exempt Financing
- Construction Financing
- Short-Term Working Capital
- Commercial Mortgages
- Term Loans
- Positive Pay Fraud Protection
- Lockbox Services
- Online and Remote Banking
- Short-Term Investment Products
- ACH Blocks
- Long-Term Endowment and Investment Management for Amounts in Excess of $1 million
- Short-Term Investment Management for amounts in Excess of $10 Million
- Investment Management and Administration for 401k’s, 403b’s, and Other Retirement Plans
CREDIT CARD SERVICES
- Top 5 Processor of Merchants Credit Card Transactions in the U.S.
- Commercial Credit Card Offerings
- Both Tax Exempt and Taxable Lease Financing Products
- Includes All Types of Medical, IT, and Business Equipment as well as Vehicles and Software/Hardware
KNOWLEDGE AND NETWORKING
- Regular Seminars on Key Topics of interest to Non Profits
- Annual Holiday Reception Networking Event for Non Profit clients
Our non profit specialists serve over 2,000 nonprofit customers across our 12-state franchise providing industry-specific credit and non-credit services. Our specialists provide credit of $5 Billion to this segment and management deposits and investments of over $2 Billion. We serve all segments of nonprofits, including education institutions (colleges, universities, private schools and special needs schools), healthcare providers (hospitals, community health centers and long-term care providers), human service providers, cultural institutions, environmental and conservation groups, foundations, research organizations and membership and advocacy organizations.