Rockhold Community Builders Program

What is the Community Builders Program?

The Community Builders Program (“Program”) is designed to allow Rockhold Bank to partner with local charities and their supporters to promote charitable outreach in our communities. Through this Program, Rockhold Bank will make discretionary contributions to eligible charities based on the quarterly average deposit account balances held in the charities’ supporters’ accounts. This Program also offers interest-bearing checking and savings accounts exclusively for charities.

Charity Enrollment Form   |   Supporter Enrollment Form

Who is eligible?

The Charities (Recipients)

• A Charity must be registered as a 501(c)(3) to be eligible.
• Specific documentation to prove eligibility will be required. A list of the required documentation may be found on the Rockhold Bank Community Builders Program Enrollment Application.
• The Charity must be willing to permit Rockhold to use its name and other public, non-confidential information, including its logos, in promoting the Community Builders Program (without compensation to the charity). No confidential information about the Charity will be shared in Rockhold’s promotions, nor will any confidential information be shared with the charity’s supporters.
• The Charity must open a Community Builders Program Checking and/or Savings Account to act as its primary account with Rockhold. The charity’s accounts with Rockhold (including any loans) must remain in good standing for the charity to remain eligible for the Program.
• The Charity must complete the Rockhold Bank Community Builders Program Enrollment Application in its entirety before it is considered for enrollment.  Rockhold Bank reserves the right to accept or reject any charity’s application to the Program.
• Once officially enrolled, the Charity will receive a welcome letter including its Recipient Organization ID.

The Supporters

• Only personal checking and savings accounts are eligible as Supporter accounts. The account types that are eligible as supporter accounts are the Student Checking, Essential Checking, Classic Checking, Select Checking, Defender Checking, and Rockhold Savings. All other account types are ineligible as supporter accounts.
• No commercial accounts, even sole proprietorships, are eligible as Supporter accounts for the Community Builders Program.
• Each Supporter must complete the Community Builders Program Supporter Enrollment Form to designate their account(s) as a supporter account.
• Please see read and understand the Community Builders Program Supporter Enrollment Form to understand more about the requirements for Supporters.

What is the Benefit?

For Charities

• Charities will receive Rockhold Bank’s great customer service along with a competitive interest rate on the funds they hold in their Community Builders checking or savings accounts.
• Additionally, the charity will receive contributions from Rockhold Bank based upon a Discretionary Contribution Rate applied to the quarterly average balance of eligible deposits held by its Supporters registered in the Community Builders Program.

For Supporters

• Supporters will receive Rockhold Bank’s great customer service along with the outstanding benefits included with the eligible Rockhold personal checking or savings account of their choice. The account types that are eligible as Supporter accounts are the Student Checking, Essential Checking, Classic Checking, Select Checking, Defender Checking, and Rockhold Savings. All other account types are ineligible as supporter accounts.
• It is important to note that being enrolled as a Supporter for your charity does not change any of the benefits or features of your account:
• You will still receive the same features as you would if your account was not enrolled in the Community Builders Program.
• The interest earned on your account (if applicable) WILL NOT be reduced if you participate in the Program.
• No donations will be made from your account to the charity.
• None of your confidential information will ever be shared with the charity; this includes your name, account balance(s), and any other identifying information. The charity you support won’t even know that you participate in the Program unless you choose to inform them yourself.
• Supporters will have the fulfillment of knowing that by enrolling their Rockhold deposit account(s) in the Community Builders Program that they are helping their favorite charitable cause.

How it Works

Each eligible Charity (Recipient) that has five (5) or more Supporter accounts designated to it during a calendar quarter will receive a Discretionary Contribution from Rockhold Bank in the month following the end of the quarter. This Discretionary Contribution is based on a rate as determined by Rockhold and is applied to the quarterly average balances of all of an individual charity’s Supporter accounts combined. The Discretionary Contribution Rate may be changed by Rockhold at any time.

Example:

• ABC Charity has a Community Builders Checking account with Rockhold.
• ABC Charity has five Supporter deposit accounts that had a total of $250,000 in average balances in the prior quarter.
• Rockhold would make a Discretionary Contribution payable to ABC Charity based on the following calculation:
  
  $250,000 x Discretionary Contribution Rate ÷ Total Days in the Year (365 or 366) x Total Days in the Quarter
  
  How we would calculate the contribution if we assume 0.50% as the Discretionary Contribution Rate
  
  $250,000 X 0.50% = $1,250
  $1,250 ÷ 365 = $3.42
  $3.42 X 92 = $314.64
  
  So, in this example, ABC Charity would receive a deposit of $314.64 into its primary Community Builders account for this quarter. This contribution would be made in the name of Rockhold Bank, and not in the name of the individual Supporters. This is important to note, as Supporters will not be able to take charitable tax deductions for their participation in this program.

Please see the chart below for a visual representation of how the process works.

The Process for Charities (Recipients)

• The Charity must open an eligible Community Builders Program Checking or Savings account. These accounts will have standard disclosures as provided by Rockhold for new deposit accounts.
• The Charity must complete the Rockhold Bank Community Builders Program Enrollment Application in its entirety before it is enrolled in the Program.
• Once officially enrolled, the Charity will receive a welcome letter including its Recipient Organization ID.
• The Charity may, at its cost and effort, promote the Program to its Supporters. Rockhold Bank may, at its sole discretion, provide marketing materials for charities to use to promote the program.

The Process for Supporters

• The Supporter must already have or open an eligible personal checking or savings account with Rockhold. These accounts will have standard disclosures as provided by Rockhold for new deposit accounts.
• Each Supporter must complete the Community Builders Program Supporter Enrollment Form to designate their account(s) as a supporter account.
• It is critical that each Supporter account has the Recipient Organization ID input on the Supporter Enrollment Form. A Rockhold employee can assist with finding this number.
• TO TERMINATE: For an account holder to terminate their account as Supporter account for a given charity, they must complete the Community Builders Program Supporter Termination Form.