Bank on Seattle – King County
Assessment of Financial Institutions for
Advertising, Printing and Financial Incentives for Financial Education
May 28, 2008
To participate in Bank on Seattle-King County, every institution would contribute
an initial amount:
$1,000 (for institutions with 10 or fewer branches in King County)
$1,500 (for institutions with 11-20 branches in King County)
$2,500 (for institutions with more than 20 branches in King County)
In addition, every institution would contribute a set amount per branch:
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$450 per branch for the first ten branches
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$400 per branch for the 11th through the 20th branches
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$350 per branch for the 21st through the 30th branches
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$300 per branch for the 31st through 40th branches
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$250 per branch for the 41st through 50th branches
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$200 per branch for the 51st through 60th branches
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$150 per branch for the 61st through 70th branches
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$100 per branch for each branch over 70 branches
Example # 1: Financial institution X has 7 branches in Seattle and King County. Its
assessment would be $4,150 ($1,000 to participate + $3,150 for seven branches @ $450
per branch)
Example # 2: Financial institution Y has 54 branches in Seattle and King County. Its
assessment would be $20,800 ($2,500 to participate + $4,500 for the first 10 branches @
$450 per branch + $4,000 for the next 10 branches @ $400 per branch + $3,500 for the
next 10 branches@ $350 per branch +$3,000 for the next 10 branches @ $300 per branch
+ $2,500 for the next 10 branches@ $250 per branch + $800 for the final four branches
@ $200 per branch)
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Please Note:
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The financial assessment is based on the total number of branches each institution
has in Seattle and King County. Each institution will report the number of their
branches that are located within Seattle/King County.
Funds will be used for printing and placement of marketing materials, advertising,
and printing and mailing of outreach materials, and public relations.
Depending on the number (and size) of financial institutions that ultimately
decide to participate, we anticipate that the proposed financial assessment plan
will raise from $150,000 to $200,000.
Our marketing firms estimates that the minimum amount we’ll need for
advertising/PR is from $150,000 to $200,000.
This assessment plan is for two years. We would like to have as much of the
funds up front as possible because printing and advertising expenses will be
greatest at the beginning of the initiative. Some institutions may need to provide
half of their assessment soon and then half later on.
In the second year of the initiative, we may wish to raise additional funds for
more advertising and PR, but no participating institution will be obligated to
contribute more than their initial assessment.
Institutions will contribute their funds to a 501 c 3 organization.
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