Best B Corp Banks

If you want to put your money into a company you can feel good about, investing in B Corporations is the way to go. This federal program has stringent requirements for certification, including ensuring the bank creates positive social and environmental impacts, in addition to meeting strict transparency and accountability standards.

Sounds good? That’s what we think, too! Here are the top B Corp Certified banks you need to know.

Certifications: B Corp, 1% for the Planet, Green America Certified.

Products and services: Spend and Save dual account

Availability: Nationwide ATM network, no branches

Aspiration is an online bank that focuses heavily on creating a net-zero future for the planet. Not only is every customer round-up directed into planting a new tree every time, but it offers up to 10% back on Conscience Coalition purchases, making it one of the biggest cashback debit cards around. Aspiration only offers two versions of its hybrid Spend & Save Plan, one that allows you to pay what you think is fair (even if that’s $0) or $5.99/$7.99 a month for the Plus account that gets you a higher interest rate and better cashback.

Certifications: B Corp, GABV Member, CDFI, Black-led.

Products and services: Personal banking, business lending & checking, nonprofit banking

Availability: Nationwide ATM network, branches in DC and CA

City First Bank is the only B Corp-certified bank dedicated to helping the underserved communities of Washington, DC. To date, the bank has invested over $1 billion in capital and tax credits to both personal and small business customers, and it’s not done yet. Check out its innovative Interest on Lawyers Trust Accounts that pools funds that allow those in poverty to access civil legal aid and for supporting improvements in the justice system.

Certifications: B Corp, GABV, Green America Certified.

Products and services: Personal banking, small business banking, institutional investing

Availability: Nationwide ATM network, branches in NY, CA, and DC

Amalgamated Bank became the first-ever union-owned bank to become a publicly traded company, and as a certified B Corporation, you can be sure its continued fight for workers’ rights will continue. Amalgamated has partnered with over 1,000 unions to create initiatives that generate a positive social and environmental impact. Plus, it’s powered 100% through renewable energy, ensuring it’s leaving as little climate impact as possible.

Certifications: B Corp

Products and services: Personal & private banking, business lending & checking

Availability: NH, VT, and ME

Mascoma Bank primarily serves residents of the Northeast and is one of the few B Corps that offers higher-level financial advising and private banking services, making it easy for those with means to create a more significant impact with their funds. Mascoma allocates at least 10% every year to philanthropy, and its solar loan program is one of the best in the US.

Certifications: B Corp, CDFI.

Products and services: Personal banking, business lending & checking, nonprofit banking

Availability: NYC only

Spring Bank may be small, but its impact is huge. As New York City’s first certified B Corp bank, Spring Bank is heavily involved in its local community, supporting low-income residents and emerging businesses in the greater NYC area. Unlike other smaller banks, Spring offers an impressive product list with five kinds of high-yield savings accounts, a $0 fee ATM partnership with CitiBank, and a points-earning debit card that’ll let your money go a little further.

Certifications: B Corp, GABV Member, CDFI, Green America Certified.

Products and services: Personal banking, business lending

Availability: Twin Cities metro area

Sunrise Banks focuses its efforts heavily on the Minneapolis and St. Paul metropolitan areas giving at least 2% of its annual net income to sponsorships or donations to local organizations that work to provide affordable housing, narrow the achievement gap, or increase diversity and inclusion. Plus, its impressive number of checking and savings options are all designed for specific goals and income levels, ensuring everyone has access to the right personal account for their financial situation.

There are currently fewer than 20 certified B Corporation banks or fintech companies registered in the U.S., so dealing with a B Corp bank means you’re banking with a company that takes its impact seriously. To be certified, a company is scored across five impact areas:

Governance

Workers

Community

Environment

Customers

To receive (and maintain) certification, an eligible company must score at least an 80 on a 200-point test. Once certified, the bank must then maintain high standards for accountability and transparency over how it uses profits. Many banks will use marketing tactics that position them as a company that cares about a particular topic but then turn around and donate to politicians or organizations that go against that stance, making it hard for customers to know what impact their money is causing. Banking with a certified B Corporation ensures your money goes to social or environmental causes you care about and stays that way.