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. Girl Scouts, Hornets' Nest Council recommends setting up your troop bank account with Wells Fargo as the council has an established relationship and they are well versed in setting up Girl Scout troop bank accounts.
- Bank accounts for troops must be opened under GSHNC's tax ID number, you will receive a bank authorization letter as part of your troop start-up process.
- There should be at least 2 unrelated adults on the account that are both registered with a clear background check on file.
- 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.
If your troop is earning and spending money, you need to set up a troop banking account. Prior to participating in any council-sponsored product sales program, you must have a bank account on file, as all transactions between the council and your troop take place through electronic transfers.