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Where you deposit your nonprofit’s money has a direct effect on what happens in the world. This may be something you've never considered, but when you place your organization’s hard-earned money into a financial institution, it doesn’t just sit there. The bank uses your deposits to fund loans and investments in all kinds of organizations and projects. If you’re an impact-focused non-profit, working with a major global bank may mean your money supports industries that conflict with your mission, including oil and gas, private prisons and weapons manufacturing.
Climate First Bank is on a mission to ensure that the revenue your nonprofit generates makes the most significant positive impact. As a certified B Corporation and member of 1% for the Planet and the Global Alliance for Banking with Values, Climate First Bank supports sustainability and community focused projects. As part of this effort, Climate First Bank is actively seeking to grow its nonprofit client base, offering a wide array of benefits including exceptional customer service, values alignment, reduced and eliminated fees, flexible loan options, and much more.
In this Q&A, Climate First Bank Director of All Good Things Lauren Dubé talks about the ways Climate First Bank can help your nonprofit save and earn more money – all while ensuring your deposits are directed toward building stronger communities and a healthier planet.
This is an exciting time because people are starting to realize that their financial partners are as much or more a driver of impact as the food they eat and the products they buy. If mission-driven nonprofits don’t intentionally work with values-aligned financial institutions, they are likely lending 20% - 30% of their revenue to causes that directly counteract their mission. From 2016 to 2023, the largest 6- banks in the world invested $5.5 trillion in fossil fuel financing. These investments were made up of deposits from individuals and organizations who probably had no idea what their dollars were supporting.
Climate First Bank uses deposits as a force for good, funding mission-aligned loans and driving investments in sustainable energy, affordable housing, and community projects. When a nonprofit client chooses Climate First Bank, they are directly contributing to the financial well-being of other values-based organizations and changemakers in the community.
When you join Climate First Bank, you’re not just a number in the system. You’re a member of our community. We aim to build a relationship with every nonprofit client, and our banking team is here to provide personalized service on everything from loans to event collaborations.
Think of banking as an amplifier. As a nonprofit, you’re already doing all of this great work with the dollars you’re fundraising. You can exponentially increase that impact by depositing those sitting dollars with a bank that is doing good work alongside you.
We help our nonprofit clients financially thrive and eliminate unnecessary fees so they can focus their spending on what really matters — their mission. For example, our Net-Zero business checking accounts offer free positive pay, free ACH originations, and no minimum balance, transaction limit, transaction fee, or monthly fees.* And we’ve made our Money Market savings account available to nonprofits by offering extended FDIC insurance as well as free access to funds anytime and nationwide ATM access.**
We also work with nonprofit clients on opportunities to boost their exposure through sponsorship, collaboration, webinars, blogs, and podcasts with our leadership team.
I think it’s so cool that Climate First Bank gets to operate in such a wide variety of spaces and learn from so many kinds of impact businesses. Being able to do that with more and more nonprofits is a privilege because, on its own, one financial institution can't do it all, but we can support the nonprofits that can.
Ready to amplify your impact and save and earn money with our nonprofit banking solutions? Reach out to Lauren Dubé or Chief Sustainability Officer Chris Castro. Our team of relationship managers is ready to answer any questions you may have and assist you in making a seamless transition to a values-aligned bank. Our Business Online Banking team can aid in transitioning donors, payroll, and other systems to your new Climate First Bank account.
Share this blog with your favorite nonprofits so they, too, may begin banking like tomorrow depends on it.
*Customer is responsible for cost of Remote Deposit Capture (RDC) machine and wire fees. $0 monthly fees if customer consents to receive electronic statements.
** Account holder must maintain their primary business checking relationship with Climate First bank to open this account and qualify for the bonus money market rate. Primary business checking account is defined as the account where business hold funds and transacts for all activities related to business operations, including but not limited to: Deposits of all income from customers whether via check, ACH, cash, or otherwise, Paying employees, Paying vendors and suppliers, Advertising and Marketing expenses, Any and all other Operating Expenses paid by the company. This Account is an interest bearing account. The interest rate on the account is 4.65% with an annual percentage yield (APY) of 4.76%. The interest rate and annual percentage yield may change. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. You must deposit $50.00 to open this account. A monthly $10.00 paper statement fee will be assessed to receive a paper statement. **If the account holder does not maintain their primary business account with Climate First Bank, the interest rate on the account will be 0.60% with an annual percentage yield of 0.60%.
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As the nation’s first climate-focused bank, Climate First Bank is a full-service community bank offering both personal and commercial banking services. We are proud to serve our communities as we work together to promote sustainability and reverse the climate crisis.
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