GivingTuesday, a global generosity movement launched in 2012 that takes place annually on the Tuesday following Black Friday and Cyber Monday, has been a powerful catalyst for charitable giving. Taking place on December 3rd this year, GivingTuesday has seen a total of $13 billion donated to nonprofits with a staggering $3.1 billion donated in 2023 alone.
These results combined with the fact that $374 billion was donated by individuals in 2023 and 3 out of 5 American households currently support charities, presents a unique opportunity for banks and credit unions to tap into a huge market and shine as community leaders. By offering Personalized Impact Experiences, your financial institution can provide a relevant place for people to support a network of 1.5 million nonprofits, deepening relationships with your account holders and attracting nonprofits for business banking and deposits.
You may wonder how it's possible for your financial institution to get involved with this movement, but it's much easier than you think. Join us as we uncover five ways you can stand out and amplify charitable giving on GivingTuesday.
1. Leverage Spiral’s Giving Center for Nonprofit Donations
Spiral offers financial institutions a powerful way to empower their account holders to give back. The Giving Center seamlessly integrates right within your digital banking environment and allows account holders to donate directly to 1.5 million nonprofits, local or national, from their everyday checking accounts. By promoting this digital experience, financial institutions create a hub for philanthropy, allowing users to browse, learn about, and donate to causes that resonate with them—all in one place. Encouraging account holders to use the Giving Center could significantly increase the volume of donations made on GivingTuesday (and throughout the year), resulting in increased account usage, deposits, and money movement! Plus, those who give through the Giving Center will have their donation receipts in one place and receive an annual donation report for tax purposes. Some fun facts:
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In 2024, Spiral helped send over $140,000 to nonprofits 💌
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Over 85% of donors choose to cover the fees
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80% of donors share their contact information with the nonprofit
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20% of donors are recurring givers
The Giving Center allows financial institutions to showcase local or national nonprofits that are either community partners or nonprofit business clients, providing a great way to increase partnerships with these stakeholders and provide visibility for causes that will resonate with your account holders and community at large. Your financial institution becomes the hub for the community, increasing loyalty from your account holders and garnering positive brand visibility.
2. Empower Saving and Giving with Everyday Impact™
Spiral's Everyday Impact™ experience empowers account holders to grow their savings and give back every day, including days like GivingTuesday. By using this tool, financial institutions can help their users improve their financial wellness while also displaying the social and environmental impacts of their purchases. For example, showcasing the number of trees planted, nights of safe shelter, or meals for the hungry.
Everyday Impact makes charitable donations tangible, sparking an emotional connection from your account holders, increasing donation activity and leading to an overall increase in account activity that is unlike any other donor experience available today.
Promoting this digital experience leading up to GivingTuesday can increase awareness about the ongoing opportunities to make a difference, no matter how small the contribution. Educating your audience about how small, everyday actions lead to healthy financial habits can not only inspire more charitable giving, but keep deposits within your financial institution.
Learn more about Everyday Impact™ and the Giving Center.
3. Match Donations to Engage Account Holders
Matching donations is a proven strategy for driving engagement. Financial institutions can pledge to match donations made to nonprofits through their digital banking channels, effectively doubling the impact of each contribution. 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." By creating a matching campaign, credit unions and banks stand out as leaders of generosity in their communities and demonstrate their commitment to local and global causes.
4. Run Simple, Effective Campaigns That People Love (and Value)
To maximize awareness and drive deposits and donations through GivingTuesday initiatives, financial institutions should launch simple yet powerful marketing campaigns. Social media, emails, and in-branch promotions, paired with in-app messages and notifications, are great ways to raise awareness. Clear, concise messaging that highlights the ease of using the Giving Center and Everyday Impact™ through digital banking, as well as the opportunity to make a larger impact through matching donations, can motivate more people to participate.
Partnering with local nonprofits and using testimonials coming directly from your account holders can also enhance the authenticity and reach of your campaign. Plus, financial institutions working with Spiral receive custom marketing content to help promote their fundraising initiatives, making it quick and easy to add these new promotions to their existing content calendars.
5. Provide Ways for Everyone to Get Involved
To reach new community members through social good, you can also leverage Spiral's external donations experience that enables anyone, account holders or not, to donate securely via credit card, PayPal, Venmo, or Apple/Google Pay to local and national causes that matter most to your community. This option is ideal for raising awareness and funds for community events that aim to drive awareness and support for local nonprofits. An added benefit to this strategy is the potential for attracting new nonprofit business; by offering a way to increase awareness and donations through your digital banking, you're providing added value to your existing benefits package geared toward charitable organizations.
Ready to Stand Out This GivingTuesday?
Financial institutions have a unique chance to lead in their communities by offering easy, impactful ways for their account holders to engage and give back—driving deposits, donations, and support for local nonprofit businesses. By utilizing digital experiences like Spiral's Giving Center and Everyday Impact™, implementing donation matching, and running targeted marketing campaigns, banks and credit unions can significantly increase their impact within their communities. As the global movement continues to grow, this year's GivingTuesday could be your institution's opportunity to make a lasting impact. 💗
Want to Know More?
To discover how Spiral's platform can help your institution launch personalized digital experiences and fundraisers, grow deposits, and attract new account holders, schedule a demo today.
