Twice a year, INSBANK takes a look at the community and sends out a big check to a nonprofit that reflects the bank’s values of inclusion, empowerment, and community enrichment. How? Through the Philanthropic Money Market.
The account works much like a traditional money market account. Customers get competitive interest, easy access, and monthly payouts – but with one big difference. Every time a customer opens an account with INSBANK, they make a contribution to their Philanthropic Fund at Community Foundation of Middle Tennessee. The donation is calculated based on average outstanding balances and comes at no cost to INSBANK customers.
Clients earn interest on their accounts and the community benefits: everyone wins.
“Since the INSBANK Philanthropic Money Market account rolled out in 2019, our clients have exceeded our expectations,” said Andrew Smith, SVP, Chief Deposit Officer. “Businesses and consumers alike are proud to be part of something bigger—earning a strong return while supporting local organizations. Their involvement has helped us grow the fund, create awareness, and ultimately make a greater impact.”
By offering its customers the option to open a philanthropy forward money market account, INSBANK is providing a way for customers to join forces in their mission to give back through their philanthropic fund at CFMT – all at no cost.
Every six months, INSBANK’s internal Philanthropy Committee selects two local organizations to support in a meaningful way. Beyond financial support, INSBANK also gets involved: creating awareness, producing marketing content, and even volunteering at the nonprofits they choose to support. Past beneficiaries include Ancora TN, OZ Arts Nashville, and Nashville Children’s Theatre.
MOVE Inclusive Dance Partnership
From January to June of this year, INSBANK partnered with MOVE Inclusive Dance. But they didn’t just donate – they volunteered, created a team for MOVE’s 5K event, and created a video to honor one of their late students, Hannah (video coming soon!).
“INSBANK has been an incredible partner to MOVE this year,” said Lauren Morris, Founder and Executive Director of MOVE. “They not only sponsored our annual Get MOVE’n 5K, but also rolled up their sleeves to help and joined us on race day to cheer everyone on. Their support has allowed us to expand our programs and share our story with new donors. We are so grateful to have them in our corner.”
For INSBANK, giving back to the community isn’t just an option for their customers, it’s coded into their identity.
