How to choose a bank that agrees with your value

When choosing a bank, most people focus on interest rates, fees and convenience. But your bank doesn’t just hold your money – it uses your deposits to make loans and investments that can support or oppose the cause you care about.

Whether you prioritize environmental protection, social justice, conservative values, and faith-based principles, there are financial institutions that share your beliefs. Here’s how to find a bank that matches your value while meeting your financial needs:

How to research banks that suit your values

Finding a bank that shares your values ​​starts with knowing what’s most important to you. Once you have identified your priorities, these research tools can help you find the right institution.

A powerful deposit A bank comparison site that analyzes public data about how banks use their money and who own them. You can search for specific banks and check for investment collapses and filter institutions based on criteria such as community investment focus.

An open secretThe non-profit research institution provides a detailed analysis of the political contributions from people related to commercial banks and from the Political Action Committee. You can see how much money costs for different political parties and causes.

For environmental and social responsibility research, check whether banks are members of organizations like the Global Alliance for Banks of Values ​​(GABV) or whether they hold certifications that demonstrate commitment to a particular cause.

Banks for Political Values

These banks support political causes through business practices and political contributions, whilst offering traditional banking services such as checking accounts, savings accounts and loans.

Progressive Bank

Progressive banks usually support environmental causes, social justice initiatives, labor unions and Democratic candidates. These agencies often emphasize community development and sustainable business practices.

• Fusion Bank
• Beneficial State Banks
• Sunrise Bank

Conservative banks

Some banks have contributed significantly to conservative causes and campaigns.

• Wood Forest National Bank
• First Premier Bank
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Faith-based banking

Religious consumers can find financial institutions that operate according to the principles of faith and support religious causes. Some of them are:

• Adelfi Credit Union It is a Christian-based institution in Blair, California. Anyone who agrees to that statement of faith is welcome to participate. Adelfi is designed to meet the economic needs of Americans working in missionary work all over the world. Credit unions give 10% of their profits to missionaries and other Christian-based efforts.
• University Islamic Finance It is owned by University Bank in Ann Arbor, Michigan. We offer products that grant Sharia, including mortgages on interest that claims a ban on Islam.
• Kosher Financial Institutethe kosher supervisory authority provides a directory of banks and lending agencies that comply with Jewish law.

Environmentally friendly banking

if Environmental impact It is a priority, and some banks are actively working to protect the environment through lending practices and operations.

The banks have proven their commitment to protecting the environment:

• Fusion Bank: Amalgamated Bank, a GABV member, guarantees that Over 39% Its lending portfolio is sent to Climate Solutions and is committed to not lending to fossil fuel companies.
• Greenfi: Although technically it’s not a bank, Greenfi is FinTech and offers a Combined Checking and Savings account. Eco-friendly debit card. Debit cards earn up to 6% cashback on purchases made in eco-friendly businesses.
• Citizens’ Federal Credit Union: Based in Raleigh, North Carolina, the Civic Federation is a GABV member and has obtained carbon neutrality certification in 2020.
• Limelight Bank: Limelight is another eco-friendly bank that could be a good option for those who want to invest Deposit certificate (CD). The bank is paperless and mainly offers CDs. We also offer savings accounts, but only available to customers with existing deposit accounts. Deposits support the bank’s solar energy initiative.
• Southern Bancorp: South Bancorp promotes economic growth in poor regions of the South Central region. He is also a member of GABV.

If you value the environment, where should you not go to the bank?

a 2024 Report JP Morgan Chase invested the most money in fossil fuels among US banks between 2016 and 2023, so consumers opposed to fossil fuel processing may prefer to deposit their money elsewhere.

For local banking

Supporting your community may be more important to you than the political or social causes of the nation. Many local banks and credit unions give back to their communities through charitable donations, local lending and community development programs.

Local credit unions often support nonprofit organizations, fund community events and offer financial education programs. If you want to bank your locally, look into initiatives supported by the institution. They can perfectly match your values.

Local banks also tend to maintain more money in the local economy by lending to local businesses and homeowners. This can support community job creation and economic development. There are several reasons why you should consider a local bank.

Bank certification that reflects value

Financial institutions can also allow businesses to obtain certification to demonstrate their commitment to a particular value. These certificates act as markers of trust and indicate that banks adhere to certain guidelines or meet certain criteria of value, such as environmental sustainability, ethical investment, and community impact.

These certifications not only give banks a competitive edge, but also help guide consumers in choosing where to entrust their money.

Here are some general accreditations given to the bank and what they mean:

How to assess your bank beyond its value

Value adjustments are important, but you need a bank that meets your actual financial needs. When evaluating potential banks, consider the following:

Financial factors:

• Interest rates on savings accounts and CDs
• Charges for current accounts, ATM usage and other services
• Minimum Balance Requirements
• Online and mobile banking capabilities

Practical Considerations:

• Branch and ATM location
• Customer Service Quality
• Providing products that meet your needs
• Credit Union Membership Requirements, if applicable

Use Bankrate’s bank comparison tool to assess how potential banks stack charges, fees and features while considering value adjustments.

Conclusion

Choosing a bank that aligns with your values ​​means supporting your money. Remember that value-based banks don’t have to sacrifice good financial products. Many value-adjusted banks offer competitive interest rates, low rates and modern banking features.

Before switching banks, assess the institution’s products, fees and membership requirements along with rating consistency to ensure they are in perfect financial position.