[jbreitrick]

Several times a year, the bank is asked to donate something to a benefit, banquet, golf outing. After last week’s session, I was asked about the possibility of the bank donating a ‘product’ to these events. Would this be permitted?

The example given to me was the donation of additional basis points on a certificate of deposit at the bank. The recipient of the prize would have the opportunity to deposit their funds into a CD and receive 50 or 100 basis points more than the posted rate.

[rcooper]

My opinion would be that it would not be permitted since the person would have to be a customer (or open an account) to win/utilize the prize. If you want to donate a savings bond I that would be fine.

[Author]

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