What Bank is the best for Non-Profit Organizations?

There are several banks in the greater Edmonton area. National, Regional, Credit Unions.... There are several things to consider - what bank offers the lowest fees, proximity, existing relationship, etc.

Here is a fee table for NPO Accounts:


The two best are Servus Credit Union (which isn't a surprise since they are a non-profit organization) and perhaps surprisingly, Bank of Montreal.

Something to consider is the quantity of deposit that you may make - as BMO allows a $5000 monthly deposit as an NPO - and as such although smaller NPOs may not be affected, larger ones might be.

The banks to avoid for charges are CWB with no free transactions can easily rise substantially and RBC with a low monthly deposit.

Lastly, banks often have programs to remit fees for larger fund-raising events -talk to your bank for more information.