Green America Says Today is the Day to Dump Mega-Banks In Favor of Lending Institutions That Support Affordable Housing, Renewable Clean Energy, Fair Trade, and Disaster Relief
Submitted by: Green America
Posted: Feb 14, 2012 – 11:19 AM EST
WASHINGTON, Feb. 14 /CSRwire/ - Feeling unhappy in your relationship with your mega-bank? Maybe it is time to break up.
This Valentine’s Day, the nonprofit Green America is highlighting the ethical abuses perpetrated by many mega-banks and urging fed-up consumers to “dump” bad banks. From questionable lending practices to financial support of environmentally destructive practices to abusive fees, big banks engage in behavior that should cause many Americans to reconsider their banking relationship.
Green America is encouraging American consumers to opt for community development banks and credit unions instead. Community development banks, credit unions, and other financial-services organizations, such as community development loan funds, measure their returns both in terms of financial profitability and social impact. These institutions are helping the hardest hit communities in the United States – the ones most devastated by the recent recession - rebuild.
Green America Corporate Responsibility Director Todd Larsen said: “If you are not feeling the love from your big bank, Valentine’s Day is the perfect day to dump it. It is time for Americans to take a stand against abusive bank practices and banks who don’t value the relationship with their clients. Looking for a banking arrangement where you are not always giving and your bank is not always taking? Then, it’s time for you to think about sending a “Dear John” letter to your mega-bank and getting into a healthy financial relationship with a community development bank or credit union instead.”
Not sure what to do next? Check out Green America’s brand-new Break Up With Your Mega-Bank website, go to http://www.BreakUpWithYourMegaBank.org. The site has all the tips and information you need to break up with a mega-bank, start a healthy banking relationship today, and see the positive impacts your money can have.
Community development institutions grew quickly over the past decade, as more and more investors recognized the positive impacts of community investing. They operate with the express goal of creating resources and opportunities for groups, businesses, and individuals who are underserved by traditional financial institutions. Community investors help finance projects that lift communities economically. In rural and urban areas (and internationally), community investors provide capital that supports job creation, financial services to low-income individuals, start-up funds for small businesses, loans for affordable housing, and more.
ABOUT GREEN AMERICA
Green America is the nation’s leading green economy organization. Founded in 1982, Green America (formerly Co-op America) provides the economic strategies, organizing power and practical tools for businesses and individuals to solve today's social and environmental problems. Green America’s green economy programs encourage corporate responsibility, tackle climate change, build fair trading systems, advance healthy, local communities, and provide green purchasing and investing information for families and businesses.
To receive Green America’s popular publications, including the Green American and the National Green Pages™, participate in Green America’s Green Business Conferences or Green Festivals, or to get its free e-newsletter, providing the latest green news, green discounts, and opportunities to take action for a green economy, visit www.GreenAmerica.org, email info@GreenAmerica.org, or call at 800-58-GREEN
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