Banking for Good

As I mentioned in yesterday’s Money Honey post, we’ve decided to switch all of our banking to ShoreBank Pacific. This is a pretty significant step for us, since we’ve had an ongoing discussion/debate about where our family should bank for several years actually. We both previously had accounts at Washington Mutual, now Chase, mostly for the “free” checking. Here’s the brief back story about our change of heart:

An environmental economics course back in grad school is what first prompted me to switch my banking to Albina Community Bank. I couldn’t help but choose a local community bank once I began to learn and think about how my own money can either cause environmental destruction globally or fund people and businesses locally. The interconnections tend to be out of sight and out of mind for most of us, and I certainly can’t claim to know the precise impact of my finances. Yet, I’m pretty sure that our cumulative impact is fairly significant. 

Our decision to switch to ShoreBank is based on the mission, the story, and our family finance needs. Above all the reason we want to switch is because they are the first American bank with a banking mission that combines sustainability and managing your finances:

ShoreBank Pacific profitably assists businesses, and through them their communities, to be sustainable in economic, social, and environmental practices.

Sustainable reasons to switch:

  • Practices the “Triple Bottom Line” – Economy, Environment and Community
  • Accredited through The Natural Step
  • Purchases carbon offsets
  • Innovative green projects need funding – rural and urban projects
Personal finance reasons to switch: 
  • Offers complete online banking
  • Offers checking, savings, IRAs, even EcoKids accounts
  • Simple to have everything in one place (Before I still hadn’t convinced Hubby to let go of our ING accounts, and now we’re planning to move everything but our retirement)
Lastly, we like the feel of the place; it doesn’t even look like a bank, not one teller in their branch! If you can’t tell, I’m excited about making the switch. Despite the initial effort, I’m certain that the long term impact of switching our family funds will be worth it.

Are you satisfied with your family’s bank? 
Do you do your banking online? 

Sustainable Family Finances 
This blog is the story of a family creating an abundant and sustainable life.

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