Finest Socially Accountable Banks For 2026

Socially responsible investing is rising in reputation as buyers search to positively impression the setting or group. Past investing, the socially aware could search for different methods to make a distinction—together with the place they financial institution. Choosing a socially accountable financial institution is yet another solution to consciously make your {dollars} work for one thing you imagine in. 

Should you’re procuring round in your first bank account or wish to change, you received’t should sacrifice a top quality banking expertise when selecting a socially accountable financial institution. 

We’ve outlined eight socially accountable banks and some runners-up as effectively. These banks have completely different missions, however they’re acknowledged as leaders of their efforts to attain environmental or social adjustments. 

Finest Banks for Addressing Local weather Change

These banks take an lively stance towards local weather change. They don’t situation loans to fossil gas corporations, and so they spend money on environmentally constructive causes.

GreenFI

GreenFI is a fintech firm that works at the side of Helpful State Financial institution (additionally listed under). The corporate operates utilizing a buyer donation mannequin. Customers can decide to pay GreenFI for its providers (and the way a lot to pay).

GreenFI donates 10% of all income to charities that assist construct a greater life for Individuals. The corporate additionally eschews loans to grease or coal corporations and commits to sustaining carbon neutrality throughout all its merchandise.

Finest Banks Selling Social Justice Causes

The banks listed right here promote causes comparable to union employees’ rights, affordable housing, and different social causes. Each banks particularly fund these causes by lending to varied organizations selling worthy causes.

Amalgamated Financial institution

Based as a financial institution to serve union clothes employees in 1923, Amalgamated Bank has stayed near its roots practically a century later. The lender is now publicly traded and continues to deal with empowering individuals and organizations to enact constructive change. 

They assist all kinds of progressive causes together with rights for immigrants, employees and unions, LGBTQ, local weather change, and financial change, to call a number of.

Helpful State Financial institution

Since its inception in 2007, Beneficial State Bank has been owned by the Helpful State Basis, a non-profit that makes use of income from the financial institution to fund initiatives for social change. 

Beneficial State Bank has issued $250 million in loans for reasonably priced housing, $130 million in loans for clear vitality, and $44 million in loans for social justice. Totally 80% of the mortgage Helpful points straight assist its mission.

Finest Group Reinvestment Banks

These banks have nationwide areas, however are targeted on uplifting underserved communities by way of lending and financial innovation. 

Runners-up on this class have a smaller geographic footprint, however they deal with uplifting their area people.

Southern Bancorp

As a Group Improvement Monetary Establishment, Southern Bancorp has group reinvestment at its coronary heart. Based in 1986, the financial institution serves primarily rural and underserved communities throughout the mid-south area. 

It seeks to increase enterprise and private lending to communities which have traditionally been ignored by bigger lending establishments. The corporate is particularly targeted on reaching unbanked and underbanked people. These are the individuals who could have struggled to open financial institution accounts or cash their checks with conventional banks prior to now.

Dawn Banks

Based mostly out of St. Paul, Minnesota, Sunrise Banks focuses on monetary empowerment for all individuals together with marginalized individuals. It companions with FinTech corporations, together with Self, to create merchandise that may serve underbanked individuals. 

The complete-service financial institution, which was based in 1986, gives the total vary of its monetary merchandise to individuals throughout the nation.

Finest Black-Owned Banks

Black-owned banks are one of the vital necessary establishments for increase economically underserved communities of Black individuals in the US.

Right now, there are solely 18 Black-owned banks in the US, and most of those establishments have a powerful monitor report of socially accountable lending and increase the group.

Metropolis First Financial institution, A Subsidiary of Broadway Federal Financial institution

In April 2021, following the merger of City First and Broadway Federal, Broadway Federal turned the biggest Black-led minority depository establishment. 

Whereas the corporate solely operates in Washington D.C. and Los Angeles for now, prospects can entry the cellular banking app nationwide. Metropolis First operates as a public profit company, which suggests it really works with a number of nonprofit organizations to advertise social justice. Causes embrace reasonably priced housing, schooling, small enterprise, wellness, and the humanities.

M&F Financial institution

On the flip of the century, the Black group had restricted entry to monetary capital to develop companies. Mechanics and Farmers Financial institution, now generally known as M&F Bank, was based in 1907 in North Carolina to deal with that want.

Since that point, the financial institution has expanded to construct the well-being of their communities. They do that by way of quality financial solutions and paying particular consideration to underserved individuals and geographies.

Methodology for Choosing Most Socially Accountable Banks

The Faculty Investor thought of all banks that had been both a part of Green America, B-Corp certified, or members of the Global Alliance for Banking on Values. Credit score unions had been excluded from the rankings. 

To be listed as a “Finest Financial institution” the financial institution have to be a part of a nationwide community of ATMs, and have a cellular app that makes it accessible to people who don’t dwell near a close-by department. The financial institution should even have not less than one fee-free checking account.

The very best Black-owned financial institution class was expanded to incorporate a few of the nationwide Black-owned banks listed on BankBlack USA. The listed banks have a powerful historical past of social duty and reinvestment within the Black group, and so they have a nationwide presence.