US Bank has announced a new Community Credit Card for non-profit organizations and small municipalities. The new card has fewer fees, a powerful online expense-management tool and other features crafted to their unique needs. The U.S. Bank Visa® Community Credit Card has no annual fees, no late fees and no over-limit fees and is now offered in all U.S. Bank branches.
The U.S. Bank Community Card is designed for non-profit organizations and municipalities where usual credit-underwriting standards sometimes aren’t appropriate,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions.
“For instance, instead of assigning liability to board members – which can be a tough ask for non-profits – the liability is held by the organization.”
"U.S. Bank’s free ScoreBoard tool lets tax-exempt organizations see, compare and control expenses more efficiently, giving staff more time to focus on the organization’s mission and needs,” Stanton said.
Examples of non-profits that can benefit include: religious organizations; cultural groups; foundations; social services; educational institutions; and other tax-exempt institutions. Municipal organizations that may qualify include: local, state, federal entities; schools; city or county offices; fire, police, and sheriff departments; and public housing administrations.
In October, U.S. Bank introduced another new specialty credit card: the U.S. Bank Visa Signature® Company credit card. Designed for companies with $1 million to $10 million in annual revenues, it offers unique advantages for businesses such as no personal guarantor and cash-back rewards.