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If 10,000 Biters switched to online banking and statements, the trees conserved would produce enough oxygen to meet the needs of 39 people for one year.

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home ›   tip library ›   Green Banks

Are you banking on a greener future?

The Bite

Business is anything but usual at some major investment and commercial banks these days. A growing number of money houses have finally made the connection between long-term environmental sustainability and profitability.

The Benefits

  • Make investments in a sustainable future. Bank at institutions with an eye on the future - those committed to reducing waste and pollution, conserving natural resources, and addressing global climate change.
  • Qualify for lower rates. Some banks give borrowers a break for loans that will improve the energy efficiency of one’s home or auto transportation.
  • Seek out banks that offer free online checking and bill pay. You reduce your eco-footprint and will never have to buy another book of checks. And, if you sign up for automatic bill pay, you’ll never pay a bill late again.

Personally Speaking

For years, Jen struggled with bills… trying to stay on top of what to send out, buying stamps, and hunting down ex-boyfriends to get their half kept her busier than a 3-legged cat in a sandbox.  But now she is a kool kitten with online bill pay.

Wanna Try?

May 16,2006


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All editorial suggestions in this tip are the result of testing and a preference for the tip topic. No advertiser has paid to have its company referenced in the tip. For more information, please read our Editorial Policy.


Money Makes the World Go Round: Bank on It

This week of tips is a bit "scholastic" but it definitely gets my dorky side excited.  When we talk about Money, we talk about the most powerful lever of change.  And then when we talk about a concentrated effort to put money in effective, conscientious investments... well, now you will see even the Exxon's of the world pay attention (okay, well not while their profits are 5 gazatrillion, but alas, we shan't go all political on you). 

Anyway, in theory, this is the BEST way to put your money where you mouth (and heart) is. I have to be honest and tell you my checking account is not with one of the banks listed in the tip; about two years ago I tried to give my money to Shore Bank but they didn't allow business accounts, and I had a small consulting business.  However, I do do online banking and bill paying and it is the BEST thing since sliced bread.  And I am going to start the process with Blue Marble to get some edu on once I have some investment money again, how I can invest it to return the most financially and socially. I know we all say this, but DAMN it feels good to live in line with your values. 

Off to pay my bills on time with a click of a button... I love it b/c I know the companies hate it when they can't assess the late fees.... mwahahahhaah not on me anymore! Jen


Biter Comments...
One of the best things I've ever done was visit the Simple Living Network (www.simpleliving.net) and take the time to reexamine my financial health. Their Your Money or Your Life program steered me away from a case of affluenza and into my first home (they even recommend buying the books used, sharing, or taking them out of the library). The Simple Living Network site is full of wonderful information. It's a great community.

Posted by: Jess | May 16, 2006 at 11:21 AM

I note that you make mention of CO-OP America in your banking Ideal Bite of 5/16/06. Perhaps you should have researched CO-OP's site a little farther. Bank of America does not get a stellar recommendation from CO-OP (http://www.coopamerica.org/programs/rs/profile.cfm?id=190). Where does Ideal Bite do their banking?

Posted by: Oakmoss | May 16, 2006 at 02:31 PM

If you're looking for a mainstream bank, a good environmental and social first cut is to choose a bank that has adopted the Equator Principles (www.equator-principles.com). The Equator Principles are a voluntary set of guidelines for managing environmental and social issues in project finance lending, and are based on the environmental and social standards of the International Finance Corporation (www.ifc.org/equatorprinciples). The good news is your bank has probably already signed up (there are currently 41 banks around the world who've adopted the principles).

Posted by: Emma | May 16, 2006 at 03:59 PM

Make even more of an impact. Leverage your investment in SRI funds by insisting that your employer do the same with retirement account contributions.

Posted by: carol orr | May 16, 2006 at 06:17 PM

Bank of America!?!?! I mean, really, BANK OF AMERICA!?!?! How 'that company' ended up getting a 'shout out' from you is impossible to conceive. Just type in their name and the word 'worst' in to Google and you'll discover a whole list of reasons they should never get a recommendation from anyone (except their big business profiteering brothers and sisters) as a company to do any business with. In short, BofA BITES...

Posted by: Stephanie | May 17, 2006 at 01:50 PM

As a regular, I must admit (along with another more emphatic regular) that listing the Bank of America as a recommendation baffles me. If you need my "credentials," I'm a green, feminist psychiatrist. When Bank of American was bought by a southern white male owned bank, many of my patients who were senior employees were "let go." Some were straight women with and without children; some were gay men with and without children. All had been successful and valued employees "under the previous regime." All were the primary "bread winners" in their families. I understand that money "talks." Let's talk pass corporations that are "Janey & Johnny Come Late-lees." Sophisticated market analysis positions "green" on the international corporation screen. As a young commercial entity, you may be tempted to tie your star to older ones with lots of money who pretend to be green. As a visionary green financial force, I hope you stay on your own course. Either way, I wish you all the best. I know how hard it is to change the world. Dr KJ Medicine Woman

Posted by: Dr KJ | October 30, 2006 at 05:19 PM

"If 10,000 Biters switched to online banking and statements, the trees conserved would produce enough oxygen to meet the needs of 39 people for one year." but what about calculating the impact of one person using the electricity for their computer to check their statements?

Posted by: elsie tanadjaja | October 23, 2007 at 08:01 PM

Clickbank is a great network because some of the most popular products are offering 75% comission per sale. After years of promoting the products I am finally making regular daily sales thanks to these Google traffic secrets that have allowed me to get free traffic from the major search engines. I also have made several sales from posting classified ads on the Free advertising network which allows unlimited free classified ads.
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product reviews

Posted by: andy | February 20, 2008 at 06:28 PM

Principles of equator-excellent bank, it has already subscribed.

Posted by: Arkadiy | April 05, 2008 at 11:23 AM

Actually, the world makes money go around.

Posted by: Jen kibby | April 05, 2008 at 01:08 PM

Online banking is the way to go (faster, convenient, etc.) however when you do your online banking, make sure that the computer you are using is secure.

Posted by: Spencer | August 27, 2008 at 09:14 AM

I would put my money into Gold. I think this is the best bet in the current economy. I wouldn't invest in any banking stocks.

Posted by: Zephyr | September 16, 2008 at 01:12 PM

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