Your Bank is Funding the Climate Crisis
Ethical Banking
When you open a bank account the question to ask is:
Where is the bank loaning my money?
Many of the top banks in the US are the top funders of fossil fuels. In order to fund and maintain projects, fossil fuel companies need financing. According to an analysis from the Rainforest Action Network, these top US banks finance the most fossil fuel products and directly fund the climate crisis:
JP Morgan Chase
Wells Fargo
Citi
Bank of America
TD
Morgan Stanley,
and Goldman Sachs,
Look familiar? If you're like most Americans you probably have an account with one of these top offenders. Not thrilled about funding climate change with your dollars?
Consider Credit Unions as a big bank alternative.
Credit Unions are not-for-profit financial institutions and are more community driven. They tend to charge lower interest rates on loans (personal loans, mortgages, etc) and may pay higher yields on some savings products. Most are insured by the National Credit Union Administration up to $250,000 per depositor.
Here is your One Action Step for Today:
Go to Mighty Deposits to find out what your bank does with your money. You can also use this tool to research credit unions near you.
Mighty Deposits is an independent women-owned bank comparison site. They analyze public data so you can see what any U.S. bank or credit union invests in.
Let me know how it goes!
