Community development banks are for-profit banks dedicated to advancing economic development in areas with people who earn low to moderate incomes and who are under-served by traditional financial institutions. Make sure your bank is federally insured: FDIC.
Community development credit unions are credit unions dedicated to advancing economic development in areas with people who earn low to moderate incomes and who are under-served by traditional financial institutions. A credit union differs from a bank in that it is a not-for-profit co-operative and serves a particular constituency or membership, such as people in a certain geographic area or people in a certain profession. Make sure your credit union is federally insured: NCUA
Community development loan funds are usually not-for-profit organizations that provide loans and support services to businesses, groups, and individuals in low to moderate income communities. Most community development loan funds are focused on one or more of these areas: micro-small business, affordable housing, and community service organizations. Community development loans funds are uninsured (you are not insured against any losses of your deposits).
You don’t have to be rich to be a social investor. All you need is the will to use your money to support your values—and the kind of world you want to see for the future. People who bank and invest in a socially responsible manner arguably have never been more important to the health of humanity and the Earth.
If you are not finding a financial institution that meets your needs from our database, you can use the links below to search a larger field of small banks and credit unions. Remember, while any smaller bank will have far less negative impacts than a megabank, you may not approve of all of their
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Statistics from GoFossilFree.org. Graph…
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