Most major banks are still investing in fossil fuel companies and infrastructure projects like pipelines, refineries and export terminals. The good news is that many other banks, credit unions and alternative financial institutions support a clean and equitable energy transition among other socially responsible investments.
Look for locally rooted and mission based financial institutions, like small and medium-sized banks, credit unions (including CDCUs), and CDFIs. Confirm that no big bank is a parent or investor backing your new financial institution.
More Bank Switching Tools & Resources
- BankLocal (USA) and Fair Finance Guide (International)
- Triple-bottom-line B Corp banks
- Black-owned and operated banks and credit unions
- More CDFI (Community Development Financial Institutions) banks, credit unions, loan funds and venture funds
- Principles of the Global Alliance for Banking on Values
- Take Charge of Your Card (or apply through your new bank or credit union)
Switch Your Bank Account in 5 Steps
- Choose a local financial institution that shares your values.
- Order new debit card and checks, and apply for a new credit card as able.
- Update your direct deposit info with your employer, and direct debits for any automatic bill payments and deductions.
- Once you’ve received your new card(s) and direct debits have shifted, close your old account and tell a bank manager why you left.*
- Share on social media to amplify your impact using solidarity hashtags like #BankExit #MoveYourMoney #DeFundDAPL #DeFundPipelines.
*Avoid fees on $0 accounts.
See our Divest Your Personal Finance Toolkit for more resources including questions to ask when deciding where to open a new account and broader perspectives on why getting out of big banks matters.
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