Ethical Banking

Hi y’all! New user (and podcast listener) here :slight_smile: I have a new job (whoo!) and now that I will be making a bit more money, I am hoping to open an account with a more ethical bank so my now more impactful savings/investments won’t be going toward, ya know, oil companies. So far I am looking at Amalgamated and Aspiration Banks as the two top contenders. Anyone have any experience with or thoughts on either of these/pros or cons?

Any help greatly appreciated!


Are you talking for investments or for your regular checkings + savings accounts?

As far as ethical banking, in the US and Canada, a Co-op bank or a Credit Union are the most “ethical” bank I can think of - they keep more dollars in your local community and have to engage in specific things like financial literacy education, etc. The board is usually voted on by the members of the credit union, unlike the board members at a big corporate bank as well.

They tend to have some of the better savings + checking products as well (as far as higher APR, etc).

Investments is a whole other story and a lot more complicated, but can talk about that more!


Both! Investments (don’t have any yet, but plan to start) but also regular checking/savings. I would love to do a local credit union but am currently a bit nomadic, so hard to choose one that will work for me when I don’t know where I’ll be. I know Amalgamated and Aspiration are both B Corp certified And part of the Global Alliance for Banking on Values (GABV). Seems like even though they’re larger presumably and more nationally focused, they’d still be a good ethical fit?

1 Like