Political Action Committees (PACs), also known as Separate Segregated Funds (SSFs), require a separate bank account in which to keep those funds. Banking with an institution that understands the structure and separate tax status of PACs is important.
You owe it to your PAC members to make smart use of their contributions. Eligible employees and members donate to the PAC with the understanding that their money will be pooled with other PAC donations and sent to political campaigns. Don’t let bank fees diminish your spending power. Low cost banking ensures you are spending your PAC funds on campaigns and not on fees.
PASS Banking Services:
- PASS will handle PAC deposits and PAC bank account reconciliations with your existing bank.
- PASS will handle lockbox and caging services for organizations collecting personal checks and credit cards.
- PASS can also simplify opening a new PAC bank account for clients that do not have an existing banking relationship.
- PASS will open a PAC account with Access National Bank headquartered in Reston, VA. More information about the bank can be found at Access National Bank.
Access National Bank Services:
- No Minimum Balance or Transaction Fees, giving you greater financial freedom.
- No Cost Remote Deposit Capture that enables checks to be deposited electronically in real-time using a special check scanning device.
- FREE Courier Services available to help expedite transactions.
- FREE Online Banking Services that allow you to view and manage account activity such as wires, stop payments and transfers in real-time.
- 24/7 Access to your personal relationship manager and trusted advisor.
- Increased Fraud Prevention measures like dual signature control on checks available and other security protocols. Flexible Non-Interest Bearing Accounts specifically designed for Political Action Committees.
Clients wishing to contact Access National Bank directly should call Chuck Kettenacker, VP, PAC & Campaign Banking Specialist at (703) 871-1041 or visit the bank website at .