How Small Banks Are Innovating Our Economy
Undersized banks across the country and around the world are innovating our economy from the grassroots up. Unlike big banks that focus on dollar volume and returns for shareholders, small community banks, credit unions and other financial entities are responsive to the communities they serve. Their domain is economic development, financial equality, access to capital, sustainable access to credit, and preventing the predatory practices that have turned prevalent among lower income peoples.
These small and medium-sized banks are located all over the world. Triodos Bank, based in the Nederlands, for example, claims to be one of the most sustainable banks in the world. Started 40 years ago, their theme line “Made for change” proclaims their penchant for supporting sustainable energy, agriculture and for using money as a tool not to gain power, but as a tool to help our planet and the people who inhabit it.
In 2007, Triodos took their values even further and established the Global Alliance for Banking on Values (GABV). The expanded GABV organization today has 70 bank members and these banks — located in Europe, India, Africa, Australia, Brazil and the U.S., are each carefully vetted for impact, sustainability and values. Most of all, they help build the lives of over 60 million customers.
