Salaam Nonprofit Banking Accounts

Get Your $1,000 Donation

Stearns Bank offers Salaam Nonprofit Banking Checking and Savings accounts and donates up to $1,000 to nonprofit organizations that maintain a Salaam Nonprofit Checking and Salaam Nonprofit Savings account with an average minimum balance of $5,000 for a full 12 months, with a $500 donation following each subsequent 12-month period¹. Subject to change at any time.

¹The average balance is calculated by totaling all ending ledger balances for the month and dividing by the number of days in the month. Failure to maintain an average balance of $5,000 for 12 consecutive months will forfeit the annual donation.

*You must be an active, legally compliant tax-exempt 501(c)(3) organization in good standing to open and maintain a Salaam Nonprofit account .

Stearns Bank reserves the right to:

Modify, suspend, or terminate the donation program, including changing donation amounts and eligibility requirements, at any time and without prior notice.
Determine, in its sole and absolute discretion, whether an organization meets and continues to maintain all eligibility requirements for a donation.
Disqualify any organization, withhold or deny any donation, or terminate program participation at any time if it determines or reasonably suspects, in its sole discretion, that the organization is operating as a shell entity, engaging in private inurement, utilizing funds for personal or non-exempt purposes, or failing to comply with Stearns Bank's internal risk, compliance, or ethical standards.

Our commitment to your mission.

Your nonprofit is changing lives, shaping communities and inspiring action. At Stearns Bank, we're changing the way banking works for you and designed a nonprofit banking solution that aligns to all your values.

Let's take your mission further!

Interest-free and profit sharing

Earn interest-free profit-based returns on your deposits through Stearns Bank’s Salaam Nonprofit Savings Account. We offer profit sharing with an expected profit derived from Stearns Bank’s Islamic Banking Division financing portfolio. Your funds are not invested in interest-bearing instruments and are kept separate from interest-bearing deposits.

Stearns Bank also offers customized solutions to extend FDIC insurance well beyond the $250,000 limit so that your funds remain secure.

Account Features

Increase your impact with a nonprofit focused checking and saving account that features dozens of free services, reduced or waived fees, and interest-free and profit-sharing savings solutions.

With the convenience of online and mobile banking, you and your team can manage accounts remotely from anywhere, at any time.

*Account will be charged the $40 international wire fee for each international wire request initiated through online/mobile banking, and upon monthly statement date, account will automatically receive a refund for up to 5 online/mobile banking international wire fees charged during statement period.

(International wires - $40 when initiated via online banking, all other channels $80)

Do More Good

Free unlimited same-day & next-day ACH origination
Free unlimited incoming wires
Free outgoing wires (one free per day, when initiated through online/mobile banking)
Free* international wires (five free per month, when initiated through online/mobile banking)
Free unlimited mobile deposits
Free auto cash sweeps (auto transfers between Stearns Bank accounts)
Free unlimited Bill Pay
Positive Pay (check fraud protection)

Save On Fees

No hidden fees
No maintenance fees
No inactivity fees
No statement fees, with free monthly eStatements
Free checks
Fee-free nationwide ATM network
Fee-free financial wellness tools
Free remote deposit capture
$100 minimum opening deposit required
Unlimited number of accounts - no fees for added accounts
Free basic Autobooks for donor invoicing

Salaam Nonprofit Financing Solutions

Stearns Bank empowers change by offering nonprofits more ways to access capital, including providing Islamic financing options for mosques, schools, and other nonprofit organizations. We understand that funding has the potential to amplify your impact, which is why we provide innovative finance options and guidance throughout the entire process.

Islamic Commercial Financing

Build and grow. We can help you achieve your vision by providing a suite of Islamic financing solutions.

Learn More

Islamic Equipment Financing

Partner with us to purchase and own your nonprofit's equipment and commercial assets.

Learn More

Islamic Banking Leadership Team

Mufti Ibrahim Essa

Sharia Supervisory Board; Faculty Member, Darul Uloom Karachi

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Shaykh Taha Abdul-Basser

Sharia Supervisory Board; Managing Partner; Straightway Ethical

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Mufti Mirza-Zain Baig

Sharia Supervisory Board; Resident Mufti, Canadian Center for Islamic Research & Ifta

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Irshad Rasheed

President and Board Chair

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Zeshan Gondal

Senior Vice President

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Heather Plumski

President of Stearns Bank

800-320-7262

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Dr. Aamir Rehman

Board Member

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Wazhma Sadat

Board Member

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