BANKING WORKING FOR ALL
Large mega banks are owned by shareholders and engage in large scale, global speculative investments, which may not match your values.
There are other options, that provide more loans and financial services to local people and businesses for wealth building investments (mortgages, small business loans, agricultural loans).
To support banking working for all - LEARN and ACT:
FIRST find out how your bank rates in investing in the local community by looking it up on Better Banking Options
Other sites that rate banks include:
Get a Better Bank (Green America)
IF NEEDED, FIND A BETTER FINANCIAL INSTITUTION – types to look for:
Credit unions - owned by their depositors – lots of these in Maine!
Community development financial institutions (CDFIs); and community development credit unions (both provide affordable financial services to under served communities)
B Corporation Banks – in Maine: Androscoggin Bank
Member banks of Global Alliance for Banking on Values (online banking) – including:
Amalgamated Bank – On line
National Cooperative Bank
Community banks; mutual banks
Minority owned or led banks
USE A BETTER BANK AND CREDIT CARD: Join the campaign to close accounts associated with mega banks funding fossil fuels, and move to better banks. See Banking on our Future from Third Act.
LEARN MORE:
Better Banking from Green America
Ethical Banking: What is a Socially Responsible Bank, NerdWallet, 3/4/22
Three Reasons Why Your Money Could be Safer in a Community Bank, Forbes, 4/7/23
What’s the Difference between a Bank and a Credit Union?, Forbes Advisor, 2/10/23
How an Equitable Financial System Could Increase Stability in Banking, Common Future, 3/3/23