STEP ONE:

RECOGNIZE THE PROBLEM

Fossil Fuel companies need money. Big Banks like Chase, Citi, Wells Fargo, Bank of America, TD, and others lend fossil fuel companies a HUGE amount of money (we’re talking trillions of dollars) for their projects! These projects are devastating to our planet and our and other species’ survival on this planet. These projects are literally financing our extinction.

We want to stop the money going into the fossil fuel industry and steer that money into projects that fund our survival, protect our climate, and strengthen our communities! (Credit: 350Mass).

Be aware that many big banks have a lot of money to spend on Greenwashing (or, making their banks look and sound climate-friendly while still investing billions of dollars in climate destruction). Even if a big bank says it is investing in stopping climate change, chances are they are investing more in causing climate change.

Find Climate-Friendly Banks and Credit Unions Here

the worst banks since the 2015 paris climate agreement:

step two:

CHOOSE a new bank

Before leaving your old, big bank, you will have to find a new one! Luckily, there are lots of great options for more ethical, climate-friendly banking here in Western Massachusetts. When you are picking a new bank or credit union, think small and local. These banks invest in the success of our communities, rather than the profits of global climate-destroying companies. You can also search for a bank or credit union yourself.

OUTSTANDING LOCAL BANKS IN WESTERN MASS:

  • Florence Savings Bank

  • City Savings Bank of Pittsfield

  • Greenfield Cooperative Bank

  • Greenfield Savings Bank

  • Lee Bank

  • Peoples Savings Bank

  • Springfield Institution for Savings

  • United Co-Operative Bank

OUTSTANDING CREDIT UNIONS IN WESTERN MASS:

  • UMass Five College Federal Credit Union

  • Freedom Credit Union

step three:

open your new account

once you have chosen your new bank:

  1. Open your new account with a small deposit while keeping your normal mega-bank account open. Order the products you need such as checks, debit cards, and deposit slips.

  2. Make a list of your automatic deposits, like your paycheck, or automatic withdrawals, like your phone bill.

  3. Move your automatic deposits to your new account. If you have direct deposit for your paycheck, ask your employer to transfer your paychecks to your new account (you will likely need to provide a voided check from your new account to your employer). The same holds true for Social Security payments or other forms of income you receive automatically into your account. Ask for the date on which the payment to your new account will take place.

  4. Move your automatic withdrawals to your new account (you will likely need to provide the routing and account numbers at the bottom of your checks). When you know that sufficient funds will be in your new account, transfer your automatic payments so they are now deducted from your new account. Ask for the date on which the payments from your new account will begin. It’s wise to leave a small amount of cash in your mega-bank checking account for at least a month after you think you have shifted your deposits and withdrawals to your new bank or credit union, just to guard against any unforeseen circumstances like checks you wrote that hadn't been cashed, or payments you forgot about.

  5. If you only have online banking through your mega-bank, take screenshots of statements or print them out. Save them for your records and keep canceled checks you may later need. 

  6. Transfer the final funds from your mega-bank account to your new account – once you have all your automatic deposits and payments transferred and any last checks have cleared your old account. Electronic transfer of these final funds to your new account is usually the fastest and safest method to use.

(Credit: https://www.greenamerica.org/break-up-with-your-mega-bank)

Step four:

leave your old bank!

 

step five:

switch your credit card

 

STEP SIX:

SPREAD THE WORD

Once all your money is transferred and your automatic payments and withdrawals are linked to your new account, it is time to close your old account. This is exciting! You are taking a big step that is important for the planet and for your community.

when you leave your old bank...tell them why!

Tell them you no longer want to bank with an organization that funds climate destruction for all species and continues to disregard scientific facts. Tell them that you want your money with a bank or credit union that cares about the survival of this planet more than lining their own pockets! You can view a sample break-up letter here, from Green America.

And, when you join your new bank, tell them why you are joining!

Now that you’ve changed your bank, it’s time to make sure your credit cards are climate-friendly.

Behind every credit card, there is a bank…even if it is through a different business or company (notice the Chase bank logo on the top left of the United card below). Look for clues on the front and back of your credit card to find out what bank it is linked to:

This is really important.

Banks that lend to fossil fuel companies do so through the money you spend with your credit cards!

find a climate-friendly credit card here:

https://greenamerica.org/better-banking/take-charge-your-card/find-responsible-credit-cards

Share with your friends, family, and community that banking outside of the big banks is not only an option, but a crucial step toward freedom from fossil fuels. Help others through a process that might seem confusing to them, and share with them all the reasons you think it is important to bank locally and in a way that is climate-friendly.

Show up to protest when big banks come to town! Bring literature or talk to people outside of big banks about why you made the switch. Hearing a personal message is the most powerful way to change someone’s mind!