Volunteer Essentials

Troop Bank Accounts

All Girl Scout troops are required to establish a troop bank account. If you’re taking over an existing troop, you may inherit a bank account, but with a new troop, you will need to open a new account. This usually happens when there is money to deposit, such as troop dues, funds earned from Fall Product or Cookie Program, or other troop money- earning activities. Consider these tips when working with a troop account: • Keep troop funds in the bank before an activity or trip, paying for as many items as possible in advance of your departure • Use debit cards during the activity or trip • Make one person responsible for troop funds and for keeping a daily account of expenditures

Important Note

An individual girl or one adult MAY NOT open or maintain a Girl Scout checking account. This arrangement does not support the council’s compliance with IRS requirements.

At any time parents/caregivers may ask to see the troop finances.

• Have one or more back-up people who also have debit cards, in case the main card is lost • Handle a lost troop debit card the same way you would a personal debit card—cancel it immediately

Acceptable Financial Institutions Troops can open a bank account wherever it is convenient. However, if the account is not opened at an Eastern Missouri preferred bank, the bank must accept the Council’s Prospective Financial Institution (Bank) Letter. To request a copy of this document, contact your Volunteer Support Coordinator.

Premier Preferred Banks - Commerce Bank and PNC Bank • No monthly fees • Debit card • Streamlined process to open an account Standard Preferred Banks – First Community Credit Union • No monthly fees • Streamlined process to open an account

Council is working to expand the number of preferred banks, making the banking process more simple and convenient for as many troops as possible. Please stay tuned as we add more financial institutions to our list of preferred banks!

Managing Finances 79