Capital One Card Lab Connect programme to help nonprofits
Capital One Financial Corporation has launched Card Lab Connect, a credit card affinity program that helps nonprofits expand their giving channels.
At the same time the programme provides non-profits’ supporters with a convenient and meaningful way to donate to charity programs. Card Lab Connect is available for nonprofits of all sizes.
According to the 2009 Capital One Card Lab Connect Charitable Giving Survey, 57% of respondents said that over the past year, they have been unable to make the same charitable donations they have made in previous years due to financial concerns. While 61% of Americans have supported local organizations in the past, only 34% plan to support local organizations this year.
“We recognize that for nonprofit organizations, particularly smaller community-based groups, fundraising programs are an even greater priority in this tough economic climate,” says Pam Girardo, spokesperson for Capital One. “Capital One Card Lab Connect aims to help meet the changing needs of nonprofits and consumers alike.”
Capital One launched the No Hassle Giving Site, in Q3 last year. This is a web site that allows Capital One cardholders to research, select, and donate to the cause of their choice. Capital One covers the transaction costs for every donation, ensuring that 100% of the donation is delivered to their charity program. Now, Capital One Card Lab Connect offers nonprofits another tool to help them attract donations.
Using the website, charities can create a series of up to three uniquely designed credit cards for their organization, and use online tools to encourage their supporters to apply for the affinity card. All rewards earned on these cards, including one percent of net purchases and an additional $25 with the first purchase, go directly to support the affiliated nonprofit organization. There are no complicated contract negotiations, no member quotas and no exchange of membership/mailing lists.
Card Lab Connect has already been through a successful pilot phase, which allowed a select number of community-based nonprofit organizations to test the program. Pilot organizations reported that the program not only helped them raise funds, but also helped to raise their profiles through the custom card design feature.
“The Capital One Card Lab Connect program provided a simple and effortless way for our supporters to donate, increasing our ability to fundraise and getting ’Dravet syndrome’ out there and known to people who would otherwise not come across it,” says Mary Anne Meskis, Executive Director of IDEA League.