Amboy Bank, a leading New Jersey bank known for its strong customer focus and commitment to philanthropy, set out to make a significant impact on World Hunger Day by launching a fundraiser in support of Elijah's Promise, a local nonprofit dedicated to alleviating hunger in Central New Jersey. The goal was to engage customers and employees through online banking, raise awareness, and drive donations to support Elijah's Promise’s mission.
"Elijah’s Promise is a local nonprofit whose goal is to break the cycle of poverty, alleviate hunger, and change lives," said G. Gregory Scharpf, President & CEO at Amboy Bank. "Their mission hits close to home, as they are located right in our market, and we have several clients and employees who live in the area they serve. They have been a client of the bank for over 15 years, and we wholeheartedly believe in the cause."
Fundraising Through Digital Banking
In June 2024, Amboy Bank launched its first fundraising campaign through a Spiral-powered Giving Center featuring Elijah’s Promise. To boost this effort, their team performed marketing campaigns linking the fight against local hunger to World Hunger Day.
Results: Surpassing Fundraising Goals
Amboy Bank raised over 150% of its fundraising goal for Eliijah's Promise. The Amboy team attributed this success to several factors that contributed to "the overwhelming success of the fundraising campaign, enabling us to far exceed our original goal." The first factor discussed was matching donations.
The Power of Matching Donations:
To encourage more donations, Amboy Bank offered to match the donations of its customers. Research from Double the Donation shows that "mentioning matching gifts results in a 71% increase in response rate and a 51% increase in average donation amount." Leading up to World Hunger Day, Amboy Bank communicated to customers to highlight the importance of World Hunger Day, "We promoted the campaign through email and advertising within Digital Banking to make sure clients were aware of the campaign and reminded them of it when they entered Digital Banking." Through Spiral, they matched all digital banking donations up to $250 per customer, surpassing 150% of their fundraising goal.
Reflecting on the impact of matching donations, the Amboy team shared: "By matching donations, we not only amplified the impact of every donation but also increased the motivation to donate. A sense of urgency is created when there is a definitive start and end date on a matching campaign."
Targeted Marketing:
To ensure customers were consistently reminded of the fundraiser ahead of time and during the fundraiser, Amboy Bank emphasized, "We promoted the campaign through email and advertising within Digital Banking to make sure clients were aware of the campaign and reminded them of it when they entered Digital Banking."
Real-Time Engagement:
Customers were able to track the campaign's progress in real-time using Spiral's digital experiences, which helped create a sense of community and urgency. The Amboy team stated, "We believe the widget in Digital Banking also helped to drive momentum and encourage clients to donate because they could see that others were donating and they could track how their donation helped us reach our goal in real-time."
Fundraiser Takeaways
Amboy Bank's campaign with Elijah’s Promise showcased how deeply a locally-focused cause can resonate with a community, enhancing the relevance and impact of their efforts.
"We learned that promoting a cause that resonates with people, such as hunger and poverty affecting their local community, makes it even more compelling to donate," noted the Amboy team. "We also believe tying the matching campaign for Elijah's Promise to World Hunger Day helped create urgency and encourage more donations within a short period. The matching campaign also significantly boosted contributions and increased excitement among our clients."
Matching donations played a key role in amplifying the campaign's impact, effectively doubling each contribution and fostering a sense of community involvement.
"Clients and employees alike have expressed that they felt their contributions made a tangible difference," the team continued. "The matching donation component was also particularly appreciated, as it allowed donors the opportunity to double their impact. Our clients and employees were invested in the outcome of the campaign and were just as excited as we were to see we had exceeded our fundraising goal."
Looking Ahead
By promoting local nonprofit partnerships, Amboy Bank differentiates itself from larger, less community-focused institutions, benefiting both the local community and the bank’s business objectives through goodwill and positive brand perception.
The success of their recent fundraising campaign demonstrates the power of aligning banking with community engagement, demonstrating that financial institutions can drive positive change while enhancing customer relationships.
"As a local bank, we are committed to improving the communities we serve. Highlighting local nonprofits helps drive donations and volunteer efforts to our community and connects residents with causes that may directly affect their lives. We are also happy to amplify the message and increase the visibility of local nonprofits who may not have the same resources as larger organizations."
Looking ahead, Amboy Bank plans to continue building on these efforts by launching new fundraisers and digital experiences that positively impact the lives of its customers and the communities they serve.
Want to Know More?
To discover how Spiral's platform can help your institution launch digital fundraisers, grow deposits, and attract new account holders, schedule a demo today.
