How To Ditch
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Find a Clean Bank, below on THIS PAGE
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Move your money! ZERO COST!
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Using THIS FORM let us know you Ditched Your Dirty Bank
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Tell your bank WHY you ditched them. Here’s a SAMPLE LETTER
Michael, in New Jersey:
I moved my accounts from Chase to Valley Bank, which doesn't invest in Fossil Fuels. And I don't need to keep a minimum balance of over $6000 in my checking/savings accounts, or be forced to pay up to $75 monthly if I'm under the minimum. Plus, my new bank manager knows me personally and I can call up any branch directly -- no 800 number!
Harvard grad:
"Why I Divested My Bank Account and You Should Too" [LINK]
https://www.thenation.com/article/environment/bank-divestment-climate/
Plus an important link from Harvard article: [LINK]
https://mightydeposits.com/posts/environmentally-friendly-banks
Check Out Someone Who's Done It
Clean Bank Links
2023 LIST OF SUSTAINABLE BANKS AND CREDIT UNIONS
To be sure your new bank is as good as it claims,
talk to someone who works there.
For a birds-eye view of small community banks, the Independent Community Bankers of America (ICBA) provide a USA map of more than 150 local banks, where your money stays invested in your community. You can input your home address to find a nearby bank. And a community bank is likely to welcome -- and answer -- your question about whether it invests in fossil fuels. [LINK]
https://www.icba.org/bank-locally
If you're using a Mega-bank, here are the 10 Steps to break up with it. [LINK]
https://greenamerica.org/special-issue-guide-social-investing-and-better-banking/break-your-megabank-10-easy-steps
If this is going to be your first bank, follow these 8 steps to choose well [LINK]
https://www.bankrate.com/banking/how-to-choose-a-bank
(But make sure any recommended bank is fossil-free, as some are not!)
How to see where your bank invests: 2023 resources and tips [LINK]
https://mightydeposits.com/posts/where-banks-invest-money
Links to sustainable credit unions [LINK]
https://www.nerdwallet.com/best/banking/best-credit-unions
If you go from paycheck to cash, a Debit card makes sense. See how at [LINK]
https://www.arvest.com/education-center/basic-finance/debit-cards
For the best eco-friendly credit cards, go to [LINK]
https://www.forbes.com/advisor/credit-cards/best/eco-friendly/
Forbes researched each card’s issuing bank and associated card companies to be sure they had no fossil-fuel-related investments. But it never hurts to ask…
To be sure your new bank is as good as it claims, talk to someone who works there.
An employee at NYC’s Amalgamated Bank volunteered this info:
"This is a great bank. It has a real social justice mission and it's not just talk. Amalgamated has a mission driven by everyday people and the betterment of society."
That’s the kind of a recommendation you can bank on!
Amalgamated Bank also issues credit and debit cards that are surcharge-free and accept cash deposits at Allpoint ATMs in Walgreens, CVC and CVS stores - a big advantage!
If you can't find a bank you really like right now, The Balance tells you How to Live With No Bank Account, for info on debit cards, prepaid credit cards, loans, and much more. [LINK]
https://www.thebalance.com/how-to-live-with-no-bank-account-3861031
MOVING ON...
If nothing fits yet, go to Mighty Deposits again to input a location that is Anywhere in the US, as well as what is Anything, such as Sustainable, Women-owned, Owned/led by Black Americans, Above average in housing lending, etc, etc! [LINK]
https://mightydeposits.com/find-banks#/
Mighty also has a similar page for CREDIT UNIONS [LINK]
https://mightydeposits.com/find-credit-unions#/find?cause=all&page=1
For the advantages of CU's over banks, go to California Coast Credit Unions [LINK]
https://www.calcoastcu.org/financial-tips-blog/7-benefits-of-a-credit-union/
The Balance names the 6 best credit unions of 2023 [LINK]
https://www.thebalancemoney.com/best-credit-unions-4161027
For a rundown on what banks do with your money, go to: [LINK]
https://www.bankrate.com/banking/what-banks-do-with-deposits/
Sample Letter
Dear Ms/Mr. Bank President,
You need to know I'm taking my money out of your bank and putting it in a bank that doesn't invest in big new fossil fuel projects that make it impossible for us — and our kids! — to live on this beautiful, mucked-up planet.
So goodbye and good luck. Maybe this will convince you to make better decisions about the money people put in your bank, thinking everything will be OK. Bottom line: I need a change — and so do you.
Sincerely,
[Your name]
WORRIED you could lose your money if your new bank has problems? Not if you choose a bank covered by the Federal Deposit Insurance Corporation -- FDIC!! Check it out here: https://www.investopedia.com/terms/f/fdic.asp
Make sure your new bank displays the FDIC logo somewhere in its online presentation and discuss the terms with your new bank's manager before you commit.