February 8, 2017
I am a treasurer for a Not For Profit organisation
In this case a School Parents Association.
We fund raise for items to enrich the school, and for projects.
I have been having a VERY hard time finding a place to deposit our money into savings or GIC and a good interest rate.
While it is easy as an individual to get as high as 2% on personal savings, and promotional rates even higher, the moment you identify as a Not For Profit, they call you a "company" and offer you a fraction of those rates.
I finally found one that is somewhat reasonable:
Here is their checklist for opening an account:
Their rates for savings are 1.5%
October 21, 2013