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  • wildcatrussell

Climate-Friendly Banking

All of the big banks, including Chase, Wells Fargo, and Bank of America, fund fossil fuel projects, so giving them the profits from your mortgage and other loans, checking accounts, and savings accounts funds the very projects you're on the street demonstrating against!

Here's how I switched:

  1. I checked out the options and chose the local credit union that gave us a mortgage on our off-grid solar house with the same easy process and great interest rate they offer for on-grid houses. I was also impressed that they won an award for having the best mortgage process. I asked them about their investments and they assured me they fund renewable energy and energy efficiency, but no fossil fuel projects (not a given since there are plenty of wells being drilled in my state).

  2. I opened a checking account/debit card with them.

  3. For credit cards, I chose the option that my investment advisor recommended as the one that is less objectionable than the others from a climate perspective: Capital One.

  4. I changed the direct deposit of my paycheck and expense reimbursements with my employer to the new checking account.

  5. I combed through my autopayment transactions for the past year, and transferred all the payment information to the new checking account.

  6. I left a small amount of money in the old account to cover anything I might have missed, and after a year, transferred what was left to the new account and closed the old one.

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