Running a summer camp is rewarding, but managing money matters can feel like navigating the wilderness without a map. From short-term loans to managing cash flow, you need a reliable bank that can help secure your organization’s financial future. Explore the top 5 banks that provide financial services for summer camps.
1. Machias Savings Bank
Machias Savings Bank is a top choice for summer camps seeking tailored financial services. It offers various options to help you manage your camp, like payroll transfers, budgeting software, tailored loans and business credit cards with rewards to help you make the most of your money. It also has an easy-to-use digital banking app that uses voice ID for improved security. Partnering with this institution means you get a committed relationship banker who can offer practical advice, encouragement and resources.
Key Features
- Customer service: Partners with a dedicated and responsive relationship banker
- Certifications: Best Banks to Work for in the Nation by American Banker Magazine and Best Places to Work in
- Credit options: Tailored loans for expansion and credit cards with unique perks and 24/7 online access
- Money management: Electronic business deposits, automated clearing house (ACH) payments for fraud prevention and wire transfers with MSB Business Online
2. Crowded
For nonprofit summer camps, Crowded offers an efficient financial technology platform that simplifies payment processing for camper registration fees, digital banking, budgeted cards, and unlimited digital debit cards, allowing centralized transactions. It’s particularly beneficial for camps with international staff, enabling the creation of unlimited payment accounts and rapid fund transfers. The platform also integrates seamlessly with accounting software like QuickBooks and Xero.
Key Features
- Payment accounts: Hassle-free payroll processes for local and international staff
- Payment processing: Track and accept payments from various payment services, such as Apple Pay, Google Pay, debit, credit and ACH
- Camper cards: Visa-powered debit cards that campers can use at the canteen or during field trips
- Budgeted cards: Make purchases with camp funds without the hassle of reimbursements
3. Trustmark
Established in 1889, Trustmark is a community-focused bank offering personalized support to summer camp owners. Their services include no monthly maintenance fees, customizable business debit cards, lending solutions, and secure 24/7 account access. Clients can also benefit from cashback and special introductory rates on Mastercard credit cards.
Key Features
- Resources: Information about trends and developments in various industries, as well as resources to help women business owners
- Cash management: Online and mobile banking, ACH direct deposit of payroll, fraud services, remote deposit and merchant card services
- Business lending: Loans and lines of credit with high borrowing limits and longer repayment terms
- Customizable cards: Debit and credit cards with enhanced security features, including zero liability and theft protection
4. First National Bank
First National Bank understands that growing a business requires the right financial resources. It simplifies everything you’ll need to manage your summer camp successfully, from maximizing cash flow to managing payroll. The company offers various checking and savings accounts, including for nonprofits. Whether you need funds for building or expanding your summer camp, this bank provides lending options like short-term and long-term financing and business credit cards.
Key Features
- Accounts: Various checking and savings accounts for your business needs
- Loans and leasing: Short-term financing, long-term financing, asset-based lending and business credit cards for your staff
- Cash flow operations: Hassle-free sending and receiving of money and check payment management
5. Chase
Chase offers flexible financial solutions for enterprises. It provides checking and savings accounts, business loans, credit cards, payment solutions and money management services. Feel free to approach the staff for investment advice, especially if you’re building a summer camp for the first time. Track your finances online with its secure mobile app and website for convenient account management.
Key Features
- Business checking: Manage cash flow, incoming wires and payroll, and business debit cards
- Merchant services: Fee-free deposits and business credit cards
- Loans: Credit lines and loans up to $500,000, with a five-year revolving period and repayment terms
- Services: Fraud and security features, payment-collection solutions, and hassle-free transfers
How to Choose the Right Bank for Your Summer Camp
Consider the following factors to find your banking partner.
1. Accessibility
Does the bank have online banking features, seamless integration with your accounting software and remote deposit solutions? These accessibility features help you save time and effort.
2. Customer Service
Choose a bank that provides quick responses and valuable support. Visit brick-and-mortar locations near you and interact with their representatives to assess the level of support they can potentially provide. Some banks — like Machias Savings Bank — offer a committed relationship banker who can guide you on your finances.
3. Security Measures
Learn more about the bank’s security protocols to ensure your funds and information are safe. Look for features like two-factor authentication (2FA) to secure online access, data encryption to protect sensitive transactions, and FDIC insurance to safeguard your deposits. Many banks also offer fraud detection systems that monitor transactions in real-time and alert you to suspicious activity, providing peace of mind for your camp’s financial operations.
4. Range of Services
Partnering with an institution that offers various services will help you streamline your finances. That way, you won’t have to deal with multiple finance professionals.
Why Summer Camp Is Important
Summer camps are more than just a fun way to fill the summer months. They are vital for children’s growth and development, allowing them to discover new interests and connect with nature. It also provides a safe, enriching environment while their parents work.
This positive impact makes your work incredibly rewarding. When discussing your finances with a bank, highlighting the benefits of summer camp can help them understand your needs.
How Much Does It Cost to Start a Summer Camp?
The cost of launching a summer camp varies significantly based on factors such as location, size, duration, programming, staffing, insurance, and marketing.
Small day camps with limited staff and minimal facilities may start with a budget as low as $10,000, though typical costs range from $15,000 to $20,000 depending on scale and amenities.
Larger overnight camps — which require cabins, meal services, transportation, and specialized personnel — can cost $100,000 or more in their first year, driven by facility setup, staffing demands, and comprehensive insurance requirements.
Choose the Right Banks That Provide Financial Services for Summer Camps
Starting a summer camp involves significant financial planning, but the right banking partner can ease the burden. Look for a bank that supports cash flow management, payment processing, and offers guidance tailored to your camp’s specific needs. Take time to compare features, read reviews, and evaluate long-term support. With the right financial foundation, your camp will be well-positioned to grow and thrive for years to come.
