We're the bank for people who care what their money does in the world. When you deposit your money at Amalgamated, it supports sustainable organizations, progressive causes, and social justice. We are committed to environmental and social responsibility. We're net-zero and powered by 100% renewable energy, and we have a long, proud history of providing affordable access to the banking system, supporting immigrants and affordable housing, and being a champion of workers' rights.
Few of us think about how our banking affects the environment but, in reality, putting your money with a green-minded financial institution may be one of the best things you can do to help conserve land, protect air and water, save endangered wildlife and mitigate climate change. Banks (owned by shareholders) and credit unions (owned by the customers) lend and invest some of the deposited funds they are holding, which is how they're able to pay interest back to you. A bank or credit union that limits its investments to sustainability-oriented companies and institutions is well on its way to being considered green. Responsible options include Amalgamated Bank, Sunrise Banks, City First Bank of DC, Beneficial State Bank, and Southern Bancorp.
As a senior vice president at Silicon Valley Community Foundation (SVCF), one of Bert Feuss' primary jobs is to decide where to invest the money that comes from donors. But when he went looking for a bank to deposit with, he specifically wanted one that would sign on to the Anti-Displacement Code of Conduct. This pledge would ensure that the financial institution would avoid making loans to developers who rely on the eviction of existing residents. While other banks hesitated, The Community Bank of the Bay was more than happy to agree. CDBA members Amalgamated Bank and Beneficial State Bank are also mentioned in this article.