In recent years we've seen enormous energy from movements working to divest the money of individuals, institutions, municipalities, pension, funds, and more out of the extractive economy of Wall St. banks, private prison corporations, and the fossil fuel industry, and reinvest those funds into the New Economy.
NEC believes in divestment and reinvestment as powerful strategies for change and offers the following guide as a starting point in thinking about moving funds to support an economy that puts people and planet first.
Banking Alternatives: Unlike Wall St. banks, which work to maximize profits for shareholders at the expense of communities and the environment, Community Development Credit Unions, as well as many other progressive credit unions, CDFIs, and community banks, offer a local alternative rooted in the well-being of their communities. Here are some places to learn more about values-aligned banking alternatives.
Invest In the New Economy: Within NEC’s membership there are dozens of amazing organizations that can help you put your savings or investments to use in building the New Economy. Here are just a few.