MainStreet Bank in Fairfax, Va., has established an aircharity account to collect donations for recovery efforts from Hurricane Sandy.
Aircharity is a donation portal custom-built and hosted by the $251 million-asset MainStreet Bank. The company will waive all fees for donations received through credit card or electronic check so 100% of each donation goes to the American Red Cross, the company said Friday.
Aircharity can be used by any charity to set up its own website for collecting online donations through credit card payments. The bank lets the organization create a donation widget that tells its story and encourages social sharing once the donation is completed. "We feel it is critical that 100% of the proceeds go toward Hurricane relief, so MainStreet Bank is absorbing all of the normal processing fees,” Jeff W. Dick, chairman, chief executive and president of MainStreet, said in a news release.
Several other companies, including MasterCard (MA), American Express (AXP), Bank of America (BAC) and JPMorgan Chase, have pledged donations to relief efforts for areas hard hit by last week’s storm.