By Zachary Ehrlich  Updated on Fri Nov 16, 2012

Banks Getting Involved with #GivingTuesday; So Can You

 

Banks Getting Involved with #GivingTuesday; So Can You

First came Black Friday. It ultimately spawned Cyber Monday and Americans were quickly wrapped up in a whole long weekend of gluttonous eating and excessive spending. Now we have a ray of hope in Giving Tuesday.

For its opening debut #GivingTuesday, as it has been dubbed online, will launch nationally to promote donations from individuals, organizations, corporations and the media. They can give back in any way possible on Tuesday, Nov. 27, following the Thanksgiving weekend to be a part of what hopes to be a nationwide movement – Alaska is the only state where no company or institution has signed up yet.

Help could come in the form of monetary donations to a charity or volunteer work, and there is plenty of work to be done. Some companies are dedicating the day to volunteer work instead of going into the office to pump some meaning behind the hackneyed phrase “season of giving.”

Financial institutions

So far, two large financial institutions have declared their monetary support for #GivingTuesday on the newly formed organization’s website. Aside from posting about the movement on its Facebook page (called Chase Community Giving), JPMorgan Chase will match eligible employees’ contributions dollar-for-dollar up to $1,000 per employee to Good Works Employee Giving Campaign.

Discover is offering a 2% match to cardmembers’ donations to the national chapters of its charitable partners. It will also waive transaction fees to its charitable partners for donations made on #GivingTuesday. And finally, cardmembers can donate their cashback bonus to Discover’s charitable partners and receive a 2% match.

MyBankTracker’s pledge

Here at MyBankTracker we’ve signed on as a media partner and have pledged to spread awareness about these and other charitable opportunities being offered by financial institutions to promote the efforts of #GivingTuesday. You can check back on our website for updates on these and other efforts, which will continue to be added in the days leading up to Nov. 27.

Help spread the word!

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  • http://twitter.com/FinancialBrand The Financial Brand

    For so many reasons, this should have been held on the Tuesday prior to Thanksgiving, not the Tuesday after. For starters, having a giving event after the Black Friday/Cyber Monday sales suggests we here in America have our priorities out of whack — “i’ll give if I have anything left following my orgy of consumerism.”

    From a marketing perspective, it would be much easier to get the media’s attention in the run-up to Thanksgiving vs. during the aftermath of Black Friday/Cyber Monday. The week before Thanksgiving is usually a slow new cycle, but once BF/CM rolls around it’s all Christmas. The media will be obsessing over Black Friday starting 11/22, then their attention will shift to Cyber Monday on the 26th and 27th. The giving event will be drowned out.

    And from a charitable standpoint, I’d suspect that it would be much easier to get donations from people leading into Thanksgiving than after BF/CM. Not only will folks have A LOT more money on 11/20 than they will on 11/27, it should be psychologically easier to solicit giving — “While your planning your Thanksgiving feast with friends and family, won’t you help those who are less fortunate?” What’s the angle you pitch after BF/CM… guilt? “You just spent a ton on yourself. Now why don’t you share?”

    The charities themselves would probably appreciate a big boost of support going into a long holiday weekend. There are a lot of charities out there who serve Thanksgiving dinners to the poor, needy and homeless. Why not use a Giving Tuesday event to help them?

  • http://twitter.com/erheisman Eileen Heisman

    I disagree with the comment from Financial Brand. All statistics on giving in the US show that Americans give far more after Thanksgiving than before — so keep #givingtuesday when it is. This is a fabulous idea, a long time coming and it deserves a passionate standing ovation. We have long needed a day to balance out the focus on excessive consumerism.

    I think this is one of those ideas that resonates with people and institutions for all different reasons. I cannot wait to see what people come up with in years to come to mark #givingtuesday. I say: bring it on.