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Does Your Credit Card Support Big Coal?

Several major credit card issuers invest billions in coal mining and coal-fired power plants. When you give money to a mega-bank, like Chase, Citigroup, Bank of America, Wells Fargo, US Bank, or Capital One, you are funding Big Coal, and all its negative effects.

Smaller community development banks and credit unions also offer credit cards, but make it their policy to invest in sectors that build communities and sustainability. The business models followed by American Express and Discover make it unlikely they will invest in coal, but they are not dedicated to helping communities.

Scorecard for Investments in Coal:

Big Coal
BANK GRADE INVESTS IN
COAL-FIRED POWER
INVESTS IN
COAL MINING
Albina
A+
   
Hope Credit Union
A+
   
Beneficial State Bank
A+
   
Permaculture Credit Union
A+
   
Southern Bancorp
A+
   
American Express
A
   
Discover
A
   
Capital One
C+
 
X
US Bank
C-
 
X
Wells Fargo
D+
X
X
Bank of America
D-
X
X
Chase
F
X
X
Citigroup
F
X
X

 

US Banks' Financing of Coal Companies in 2012: $20.8 billion
US banks financed a combined $20.8 billion in 2012 for companies engaging in mountaintop-removal mining or seeking to expand or extend the use of coal-fired power plants. This figure does not include other activities involved in teh coal-cycle, like transportation.

Cost of Coal to US Economy: $5,000,000,000,000/year
Activities associated with coal energy, including extraction, transportation, processing, and combusion, produce waste, health, and environmental hazardsthat cost the public nearly $500 billion each year.

CO2 Pollution from Coal-Fired Power Plants: 1876.8 million metric tons in 2009
The energy produced by coal-fired power plants emitted 1.877 billion metic tons of carbon dioxide into the atmosphere in 2009. That's almost 35% of all CO2 produced by energy consumption that year.


Take Action Today!

1. Dump your mega-bank credit card, and get a card with a responsible bank or credit union.

2. Move your checking and savings accounts to community development banks and credit unions. Find options at BreakUpWithYourMegaBank.org.

3. Make your portfolio fossil-fuel-company-free and support clean energy. Find resources in Green America's Fossil-Fuel Divestment Guide.