How To Choose A Bank That Agrees With Your Values

When choosing a bank, most people focus on interest rates, fees and convenience. But your bank does more than just hold your money — it uses your deposits to make loans and investments that can support or oppose causes you care about.

Whether you prioritize environmental protection, social justice, conservative values or faith-based principles, there are financial institutions that share your beliefs. Here’s how to find a bank that aligns with your values while still meeting your financial needs.

How to research banks that match your values

Finding a bank that shares your values starts with knowing what matters most to you. Once you’ve identified your priorities, these research tools can help you find the right institution.

Mighty Deposits is a bank comparison site that analyzes public data about how banks use their money and who owns them. You can search for specific banks to see their investment breakdown or filter institutions based on criteria like community investment focus.

Open Secrets, a nonprofit research organization, provides detailed analysis of political contributions from people and political action committees associated with commercial banks. You can see how much money goes to different political parties and causes.

For environmental and social responsibility research, check whether banks are members of organizations like the Global Alliance for Banking on Values (GABV) or hold certifications that demonstrate their commitment to specific causes.

Banking for political values

These banks offer traditional banking services like checking accounts, savings accounts and loans while supporting political causes through their business practices and political contributions.

Progressive banks

Progressive banks typically support environmental causes, social justice initiatives, labor unions and Democratic candidates. These institutions often emphasize community development and sustainable business practices.

• Amalgamated Bank
• Beneficial State Bank
• Sunrise Banks

Conservative banks

Several banks have contributed significantly to conservative causes and campaigns.

• Woodforest National Bank
• First Premier Bank
• Arvest Bank

Faith-based banking

Religious consumers can find financial institutions that operate according to their faith’s principles and support religious causes. Some of them include:

• AdelFi credit union is a Christian-based institution in Brea, California. Anyone who agrees with its statement of faith can join. AdelFi was designed to serve the financial needs of Americans engaged in missionary work around the world. The credit union gives 10 percent of its profits to missionaries and other Christian-based efforts.
• University Islamic Financial is owned  by University Bank in Ann Arbor, Michigan. It offers sharia-adherent products, including mortgages that are built around the Islamic prohibition against charging interest.
• Kosher Financial Institute, a kosher supervision agency, provides a directory of banks and lending institutions that comply with Jewish law.

Environmentally friendly banking

If environmental impact is a priority, several banks actively work to protect the environment through their lending practices and operations.

Here are some banks that have proven their dedication to protecting the environment:

• Amalgamated Bank: A GABV member, Amalgamated Bank ensures that over 39 percent of its lending portfolio goes to climate solutions, and it has pledged not to lend to fossil fuel companies.
• GreenFi : While not technically a bank, GreenFi is a fintech that offers a combined checking and savings account, which functions as an interest-bearing checking account and comes with an eco-friendly debit card. The debit card earns up to 6 percent cash back on purchases made at environmentally conscious businesses.
• Civic Federal Credit Union: Based in Raleigh, North Carolina, Civic Federal is a GABV member and achieved a carbon neutrality certification in 2020.
• Limelight Bank: Limelight is another eco-friendly bank that could be a good option for those who want to invest in certificates of deposit (CDs). The bank is paperless and  primarily offers CDs. It also offers a savings account, but it’s only available to existing deposit account customers. Deposits help the bank fund solar energy initiatives.
• Southern Bancorp: Southern Bancorp promotes economic growth in impoverished areas in the mid-south. It’s also a member of GABV.

Wondering where you shouldn’t bank if you value the environment?

A 2024 report found that JP Morgan Chase invested the most money in fossil fuels among U.S. banks between 2016 and 2023, so consumers opposed to fossil fuel processing may prefer to deposit their money elsewhere.

The case for local banking

Supporting your local community might be more important to you than national political or social causes. Many local banks and credit unions give back to their communities through charitable giving, local lending and community development programs.

Local credit unions often support nonprofit organizations, fund community events and provide financial education programs. If you bank locally, research what initiatives your institution supports — they might align perfectly with your values.

Local banks also tend to keep more money in the local economy by lending to area businesses and homeowners. This can support job creation and economic development in your community. Here are a few more reasons why you should consider a local bank.

Bank certifications that reflect values

Just as businesses can acquire certifications to showcase their commitment to specific values, so, too, can financial institutions. These certificates act as markers of trust, indicating that the bank adheres to certain guidelines or fulfills specific criteria for values such as environmental sustainability, ethical investment or community impact.

Not only do these certifications give banks a competitive edge, but they also help guide consumers in making choices about where to entrust their money.

Here are some popular certifications given to banks and what they signify:

How to evaluate banks beyond values alignment

While values alignment is important, you still need a bank that meets your practical financial needs. When evaluating potential banks, consider:

Financial factors:

• Interest rates on savings accounts and CDs
• Fees for checking accounts, ATM usage and other services
• Minimum balance requirements
• Online and mobile banking features

Practical considerations:

• Branch and ATM locations
• Customer service quality
• Product offerings that match your needs
• Credit union membership requirements if applicable

Use Bankrate’s bank comparison tools to evaluate how potential banks stack up on rates, fees and features while considering their values alignment.

Bottom line

Choosing a bank aligned with your values means your money supports causes you believe in while still meeting your financial needs. Remember that values-based banking doesn’t require sacrificing good financial products. Many values-aligned banks offer competitive interest rates, low fees and modern banking features.

Before switching banks, evaluate the institution’s products, fees and membership requirements alongside their values alignment to ensure they’re the right fit for your complete financial picture.