How Your Banking Choices Can Impact the Environment
Banks can significantly influence the environment, either positively or negatively, depending on the projects and companies they choose to support. If a bank funds projects that damage ecosystems or boost fossil fuel production, it harms the environment. Conversely, investing in sustainable, eco-friendly initiatives can lead to positive environmental outcomes.
Forbright Bank is one such institution committed to positive environmental impact. Its mission includes combating climate change, and it is the seventh U.S. bank to sign the United Nations Principles for Responsible Banking.
Forbright Bank provides a high-yield savings account and Certificates of Deposit online. Their high-yield Growth Savings account offers a 5.30% Annual Percentage Yield (APY), which is more than 11 times the national average. There are no account fees or minimum balance requirements, and deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
How It Can Help
In addition to offering a high APY, Forbright Bank stands out by focusing on responsible and sustainable banking. About one-third of its portfolio is dedicated to funding clean energy and sustainable projects. The bank also finances residential solar loans, green building upgrades, and accessible healthcare, and has earned fossil-free certification from the nonprofit organization Bank.Green.
As a signatory to the UN Principles for Responsible Banking, Forbright Bank follows best practices to measure, report, and minimize the environmental impact of its financing. The bank is committed to remaining carbon neutral and encourages its employees to reduce their carbon footprints by offering bonuses for solar panel and electric vehicle purchases, reimbursements for sustainable subscription services, and rewards for using public transit or biking to work.
Bottom Line
With Forbright Bank, you don’t have to choose between your values and your earnings. You can earn a 5.30% APY on your savings while supporting initiatives that benefit the environment.