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Mendener Bank launched a new crowdfunding platform for associations

Mendener Bank has launched a new crowdfunding platform for associations. The first participant is the nature conservation center Noah’s Ark.The Mendener Bank takes over the administration of the donations with a trust account. If the target amount is reached within the specified time of three months, the bank pays the donated funds to the association.

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In May 2020, the crowdfunding platform of Mendener Bank went online under the motto “Many can do more”. The Noah’s Ark nature conservation association has now launched its first project: a circus tent for environmental education.

At mendener-bank.viele-schaffen-mehr.de, social, charitable, cultural, and public institutions, initiatives and associations can present their project ideas. Whether a new climbing frame for the kindergarten, costumes for the next dance performance, training for the volunteers – the associations and initiatives in the region have many ideas on how they can fulfill their tasks even better and make the environment more beautiful for their members.

Find out more details about the new crowdfunding platform for associations that the Mendener Bank launched and read the most important financial headlines with our companion app, Born2Invest.

Help with the implementation of charitable projects

However, there is often a lack of funds – and donors for large sums of money are hard to find, explained Nadine Vellmer, Marketing Department of the Mendener Bank. This is where the Mendener Bank’s “Many can do more” project comes in: It would like to help the associations and initiatives with the help of a crowdfunding platform on the Internet to realize their non-profit projects.

“The idea behind crowdfunding is a cooperative one,” explained Nadine Vellmer: a large number of people jointly finance projects with many small donations. The collection of donations is done online via the website.

Crowdfunding as help for self-help

The Mendener Bank takes over the administration of the donations with a trust account. If the target amount is reached within the specified time of three months, the bank pays the donated funds to the association. If the target is not reached, the bank transfers the donations back to the supporters. “This is transparent, modern, appeals to new circles that may not have dealt with the topic of donations before, and supports projects in and for the region,” said Nadine Vellmer. She describes crowdfunding as “helping people to help themselves”.

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Crowdfunding model of the Menden public utility company

Three years ago, the Menden public utility company launched the “Menden Crowd”, a crowdfunding model for local clubs. The model is aimed at local clubs from the fields of sport, culture, art, social affairs, education, environment, technology and research. They have the opportunity to present their projects on the Internet and convince supporters of the idea.

The “Menden Crowd” must also collect the required sum within a specified period of time – otherwise the money will be paid back to the donors.

Due to the Corona crisis, a special project is currently running on “Menden-Crowd”, where the collected amount is paid out in any case, even if the goal is not reached. The money is collected for shopping vouchers with which the “Mendener in Not” association supports people in need.

One association project has already been started: The Noah’s Ark Water and Nature Conservation Association would like to purchase a circus tent for environmental education. The tent is to become the base camp for the new green wood workshop. There the children will learn how to use different tools in the context of different topics concerning nature, environment and sustainability. They will also learn how to work with freshly cut wood in an independent and creative way.

Noah’s Ark in Menden becomes NRW pilot project

At the same time, the tent should offer the possibility and space to safely store and work with the necessary distance and optimal ventilation, especially now, in Corona times. $4.500 (€4,000) is the donation target, which has to be reached by September 24th, so that the money is paid out.

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(Featured image by NikolayFrolochkin via Pixabay)

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First published in WESTFALENPOST, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.