No matter how much your troop plans on saving or spending, you’ll need a safe place to deposit your troop dues, product sale proceeds, and other funds. If you’ve stepped up to lead an existing troop, you may inherit a checking account, but with a new troop, you’ll want to open a new bank account.
Here are a few helpful tips:
- Be sure to find a bank that has free checking and low fees.
- Designate a “troop treasurer,” that is, one person who is responsible for troop funds and for keeping a daily account of expenditures.
- Ensure your account comes with a debit card that you can use during activities or trips. These transactions are easier to track at the end of the year.
- Be prepared like a Girl Scout, and make sure another troop volunteer has accessible a debit card for the troop account 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.
- Keep troop funds in the bank before an activity or trip, and pay for as many items as possible in advance of your departure.
Follow your council’s financial policies and procedures for setting up an account. Most council-sponsored product program activities have specific banking and tracking procedures.
GSMISTS Banking and Tracking Procedures
Follow these steps when establishing your troop’s bank account:
1. Complete the Troop Management Training: Troop Finances.
2. Secure two unrelated adults who are registered members and approved volunteers to co-sign the account.
3. After the training is completed, you can request GSMISTS Troop Bank Letter Packet.
4. Go to the bank and open your account.
Huntington Bank, Chemical Bank, Fifth Third Bank, and PNC.
5. Complete the Bank Account Information and ACH Authorization form and submit to email@example.com.