While most banks nowadays are opting for paper-free statements, some banks are going the extra mile when it comes to green banking by becoming certified B Corps and focusing on the triple bottom line: people, planet, and profit. Additionally, banks are taking on community development initiatives and sustainable, responsible investing.
These seven green banks specifically are powering a greener, more equitable economy, so you can move your money and invest in a more eco-friendly future.
1. Aspiration
Ethics & Certifications | Certified B Corp, 1% for the Planet, gives back, sustainable investing
Services Offered | Cash management (savings/checking), investments, retirement funds
Regional Availability | US, nationwide (online only)
No matter where you are in the United States, Aspiration is ready to serve your personal banking needs. This online-only green banking institution prides itself on being mindful and sustainable in every way. Unlike many big banks, Aspiration doesn’t invest in fossil fuel funding, so your deposits won’t go towards projects like pipelines, oil drilling, and coal mines. You also have the option to plant a tree with every purchase. And with its Aspiration Plus card—made from recycled ocean plastic—you can carbon-offset all your gas purchasesand get 10 percent cashback when you buy from brands that are part of its Conscience Coalition, like TOMS.
Learn More About Aspiration
2. City First Bank
Ethics & Certifications | Certified B Corp, CDFI, gives back
Services Offered | Personal banking, business lending & checking, nonprofit banking
Regional Availability | US, nationwide; local branch in DC
City First Bank reigns supreme in the nation’s capital as the only bank focused on community development in Washington, DC. A certified B Corp and CDFI, this institution invests in under-resourced and underfunded communities with more than $1 billion in capital and tax credits, benefitting thousands of lives. And online banking has never been easier—City First offers electronic and 24-hour telephone banking, online bill pay, and a VISA debit card for ease. The same security and performance as the big banks, but with all the values of your local community bank, City First is an excellent option.
Learn More About City First Bank
3. Amalgamated Bank
Ethics & Certifications | Certified B Corp, sustainable & eco-friendly practices, gives back
Services Offered | Personal banking, small business, commercial banking, institutional investing
Regional Availability | US, nationwide; local branches in NY, DC, & CA
As the first union-owned bank in history to become a publicly traded company, Amalgamated Bank has long been a champion of workers’ rights; it now joins forces with over 1,000 unions to get what’s best for teachers, firefighters, and more. It serves nonprofits, social impact enterprises, and sustainable organizations, and also invests resources into tobacco-free funds and clean energy portfolios. Sign up for the Give-Back Checking accountto donate to a participating organization of your choice. (And as a bonus, Amalgamated is powered by 100 percent renewable energy.)
Learn More About Amalgamated Bank
4. Beneficial State Bank
Ethics & Certifications | Certified B Corp, CDFI, sustainable practices, gives back
Services Offered | Personal banking, business & nonprofit services
Regional Availability | US, nationwide; local branches in CA, OR, & WA
Beneficial State Bank believes in a more equal and just world for everyone with its commitment to supporting diverse and minority-owned businesses, mission-driven structures and services, and sustainable practices. As the institution actively manages nearly a billion dollars in assets, it carries a positive track record in managing wealth. For our friends on the West coast with personal banking needs, Beneficial offers both savings and checking accounts that are available online and via mobile app. The bank also has plans to launch personal, business, and nonprofit credit cards.
Learn More About Beneficial State Bank
5. Spring Bank
Ethics & Certifications | Certified B Corp, CDFI
Services Offered | Personal banking, business lending & checking, nonprofit banking
Regional Availability | NYC-based
New York’s first Certified B Corp bank, Spring Bank is the perfect banking option for NYC dwellers. As a Community Development Financial Institution (CDFI), it financially supports low-income communities and emerging businesses to help bolster the local community. For personal banking, Spring Bank offers five kinds of high-yield savings accounts, so you can save for that dream vacation and help invest in small, local businesses. With competitive rates, many no-fee ATMs (including all CitiBank ATMs), and a mobile app, this green bank is all about putting you first.
Learn More About Spring Bank
6. Mascoma Bank
Ethics & Certifications | Certified B Corp, gives back
Services Offered | Personal & private banking, business lending & banking, financial advising
Regional Availability | Northeast US (NH, VT, ME)
If you live in northern New England, you’d be remiss not to check out Mascoma Bank. This certified B Corp is a force for positive change across the northeast. From the solar loan program to the annual 10 percent commitment to philanthropy, the customers and the funding priorities all reinvest back into the other. For over 100 years, Mascoma has been a local go-to for mortgages, business loans, and private banking, with everything in between. With dozens of options for checking, savings, and CD rates, this green bank has a thoughtful strategy in mind for all your financial needs.
Learn More About Mascoma Bank
7. Sunrise Banks
Ethics & Certifications | Certified B Corp, CDFI, gives back
Services Offered | Personal & business banking, business lending
Regional Availability | Twin Cities metro area (MN)
For three decades, Sunrise Banks has served Minneapolis and St. Paul with a focus on financial inclusion and wellness. This CDFI provides services from commercial and government lending to fintech partnerships to personal banking. And the institution matches its practices with its values; every year, it gives at least 2 percent net income in sponsorships or donations to organizations that focus on providing affordable housing, narrowing the achievement gap, and increasing diversity & inclusion. Plus, this bank offers all kinds of personal accounts, including youth savings for children, thrift savings for the budget-conscious saver, and lines of credit for your next big purchase.
