Chapter Finance
Checking Accounts
While some Sigma Tau Delta chapters have their own checking account at a local bank, many colleges and universities require student organizations to open an account with the university. The Sigma Tau Delta Central Office advises chapters to check their school's policies governing student organizations before opening a checking account at a local bank.
- Establishing a checking account at a local bank. Sigma Tau Delta recommends that the chapter sponsors open the account in the chapter's name (e.g., "Sigma Tau Delta, Zeta Zeta Zeta Chapter"). The Central Office also recommends that only a chapter sponsor have signatory privileges on the account. Some local banks will waive monthly maintenance fees for non-profit tax-exempt organizations such as Sigma Tau Delta. If the bank requires the Federal Identification Number (FEIN) for Sigma Tau Delta, then call the Central Office at 815-753-1612 and ask for the number.
- College or University accounts. Be aware that it takes time to process checks through colleges and universities. If your school requires that all chapter money must be deposited in a school account, then allow more time to process a check from this account. Some colleges and university business offices can take up to three or four weeks to process a check for payment.