The new giving: "You're just a social worker anyway"
Non-profit organizations have almost 45 billion euros in accounts that earn little to no interest. Banks occasionally make donations to the sector, but rarely take it seriously as customers.
In the rural village of Sandesneben, situated half an hour from Hamburg, unmarked white vans crisscross the countryside. Many people mistake these vehicles for those of workers. However, inside, they serve as mobile counseling centers for women who have experienced violence. The counseling takes place in various locations such as the parking lot in front of a supermarket or a school.
The women are usually unaware of their surroundings when they arrive at the counseling center. Miriam Peters founded Land-Grazien in 2020 due to the overwhelming demand. The organization has grown rapidly in such a short time. Just a few months ago, Peters transitioned from driving a van to managing the office and dealing with finances.
It became apparent that the organization's costs were higher than the interest it earned on its funds. Peters approached two banks to inquire about investment opportunities. The response from the Sparkasse bank was particularly unkind: "You are just a social worker, after all." This statement is unreasonable and detrimental to the bank's business.
In 2025, private organizations without a profit motive, including charities, foundations, churches, and associations, held approximately 74 billion euros in cash and deposits within banks. Out of this total, 45 billion euros were held in easily accessible, interest-free sight accounts.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
