Know the Charity – Before You Give



For many people, the holiday season is a special time for sharing with others by donating to charities. Victory State Bank, Staten Island's only community-based commercial bank, applauds those who reach out to help others.

When you decide to give, the bank advises that you do a bit of homework in order to avoid being scammed by an illegitimate charity.

With this in mind, the bank is sharing the following tips from the New York City Department of Consumer Affairs:

1) Only Gift to Charities That You Know Are Reputable; Be Aware Of Similar Charity Names

Some charities use names that are similar to well-known charities in order to confuse donors. Always double check the name of the organization to which you’re donating.

2) Be Wary of Emotional Appeals

Some appeals may talk about problems but are vague on how donations will be spent. Do not hesitate to ask for information in writing.

3) Many Phone Solicitations Come From For-Profit Fundraisers

New Yorkers should know that many phone solicitations for charities actually come from for-profit fundraisers. In some cases, less than half the money you give through a paid telemarketer actually goes to the charity. Donors can learn more about how charities use their donations by visiting the Attorney General’s website.

For more tips on charity scams, visit New York State Department of Financial Services website.




About Victory State Bank

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at


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