The new Unified Banking System includes several benefits for our volunteers, which we believe will make team and chapter finance easier and more efficient:

• Treasurers and Chairs will be issued credit cards for payment of AFS expenses.
• Reimbursements and check requests will be submitted online, which makes the process less paper intensive.
• Deposits can be made online – trips to the bank will be a thing of the past.
• Treasurers will spend much less time on reporting, as monthly and quarterly financial reports will no longer be required.
• Volunteers will continue to make their own team or chapter purchasing decisions.
• You will continue to make your own decisions about how much and to whom you award scholarships out of your locally raised funds.
• Online financial reports will be available monthly for Treasurers and Chairs.

The new systems will rely heavily on technology, cloud computing and other online functionality provided by our banking partners. Ultimately, the goal is to improve fiduciary oversight while providing volunteers with quick access to Team funds and full transparency into their accounts.

For more information about the background, details, and timing – including a list of Frequently Asked Questions – please visit the new Unified Banking Page in the “Managing Finances” section of Help & Learning!