You know how much I love saving my money. I might even be a hoarder when it comes to saving money. Can’t wait for that TLC show: Hoarders: Money. Their savings accounts are burying them!
And I’m all about incentives. I’m pretty sure that’s pat of the reason I’m hooked on my store charge cards (ahem, Kohls).
Lastly, I think helping the less fortunate is a pretty great idea! I was glad to walk and raise money fo the Walk for Hunger this past year (and I plan on doing it for many years to come!
So, when I got an email from someone representing AbleBanking, you know I wanted in!
What’s AbleBanking? It’s a division of Northeast Bank that gives you an added incentive to saving money. Like many online banks, it’s able to give you a pretty good return, relatively speaking (currently 0.90% APY, higher than ING Direct’s 0.80%). But, because it doesn’t spend money on advertising and marketing, it has a little extra money to do something with.
When you open your account (minimum of $1k for the Money Market Account), they will donate $25 to a charity of your choice. And then, every year (on the anniversary of your account opening), it will donate .25% of your balance to a charity of your choice. For the yearly donation, they donate from their “we don’t spend money on ads” fund, not from your balance.
So, the more money you put into your account, the more money goes to charity! Win win!
FULL DISCLOSURE: Because I told them I would write about their account, they gave me a bonus code, so when I opened an account (which was super easy), I got to donate $50 to charity instead of just $25. Woohoo! But there’s good news for you too, because they’re offering the same deal for you, too! More details below.
To be honest, I’m hitting the age old question: what am I saving all this money for? I’d love to hear what you’d designate this account for!
So, the folks at AbleBanking were kind enough to let me share my bonus code with my readers! That means that if you open a money market account with them (minimum $1k, which I know can be steep, but if you can do it, do it!), they’ll donate $50 to a charity of your choice. Without the bonus code, they’d still donate $25 to charity. With the code, that’s an extra $25 to charity! The code is valid from now until August 31, 2012.
So, if you open an account, when it asks for a Promo Code, enter: 25250
Also, I just noticed that if I refer people, I get an additional $25 to donate. So, if you want to say that you were referred by a “friend”, I think that requires me to send you my full name and City/State. (Let me know if you want to go that route) Alternatively, you can just say you got it from a blog just leave it at that.
If you open an account, let me know! I’m curious to hear about other people’s experiences. And whether or not you open an account, please let me know where you’d donate to or what savings goal you’d assign for a new savings account!