Credit Unions are financial cooperatives, owned by their depositors and governed along the principles of one member, one vote. ASmarterChoice.org helps you find credit unions in communities across the US. Credit Unions are organized for a variety of purposes and some are more focused on economic justice and community development than others. Where possible, we recommend joining a Community Development Credit Union. Because of the democratic structure, there are also opportunities for member-owners of less-progressive credit unions to organize and push those instituions to pursue New Economy values.
Community Development Financial Institutions or CDFIs are private financial institutions that are 100% dedicated to delivering responsible, affordable lending to help disinvested people and communities join the economic mainstream. Opportunity Finance Network is the national membership organization for CDFIs and their website features a CDFI locator.
Community Development Credit Unions or CDCUs are credit unions with a CDFI mission. The National Federation of CDCUs is the national membership organization for CDCUs. Although there aren't CDCUs in every community we think they're one of the best alternatives out there if you have access to one. You can find one close to you by visiting the Federation’s member directory.
Break Up With Your Mega Bank is a terrific resource created by NEC member Green America. Check out their site for a guide to CDFIs, credit unions, and loan funds as well as a variety of responsible, sustainable, community-owned, and union-owned banking options.
The Global Alliance for Banking on Values (GABV) is a network of banking leaders from around the world committed to advancing positive change in the banking sector. Their collective goal is to change the banking system so that it is more transparent, supports economic, social and environmental sustainability, and is composed of a diverse range of banking institutions serving the real economy. View their members here.
Find a B Corp Bank. B Corps meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems. Collectively, B Corps lead a growing global movement of people using business as a force for good. View B Corp banks here.