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Forget toasters: Bank’s lure is cash you can donate

Boston institution lets customers call the shots on charity

By Todd Wallack
Globe Staff / October 28, 2011

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A new Boston Internet bank is planning a novel approach to attracting customers: Instead of spending millions on traditional advertising or promotions, it plans to give customers cash to donate to their favorite charities. Able Banking, a division of Northeast Bancorp. of Lewiston, Maine, is offering $25 to new customers, plus another $2.50 a year for every $1,000 they keep in their account to give to any qualified charity. The bank plans to launch by early next year.

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