Align your money with your values
Third Act Upstate New York offers workshops for individuals and organizations to learn how to prevent their bank deposits, credit cards, insurance premiums, and investments from being used to finance the fossil fuel industry… and instead fund local businesses, community housing, and development of renewable clean energy. To host a workshop, write to: oxherders@icloud.com
#1 PERSONAL BANKING
If you bank with Chase, Citi, Bank of America, Wells Fargo, TD Bank, U.S. Bank or another mega-bank, some of your money is likely being used to fund ventures causing climate destruction. Learn how to find regional and local community banks and credit unions that use your deposits to fund local ventures and not fossil fuel projects. Simply put: Shop Local - Eat Local - Bank Local.
Bank Investments in
Oil & Coal
The research is focused on institutional investors that manage stocks and bonds such as commercial banks, hedge funds, and pension funds. Investments have been aggregated on group level - for example Amalgamated Bank is aggregated with its parent company Amalgamated Financial Corporation.
#2 CREDIT CARDS
If you have a credit card with Chase, Citi, Bank of America, U.S. Bank (Elan Financial), or Wells Fargo, the money from transaction fees, annual fees, and interest on debt is feeding into the money pipeline to finance fossil fuel companies. Learn how to find an alternative credit card.
“When you use a mega-bank’s card, you’re bolstering all the things the bank’s loans support, from clearcutting forests to new coal-fired power plants to predatory loans,” says Fran Teplitz of Green America. “Community banks and credit unions provide the best opportunity for cardholders to avoid supporting bad practices and to positively impact communities.”
However, even if you have switched your bank account to a credit union or community bank, you may still be linked to the Wall Street mega-banks through credit cards. When you open a credit card account, your fees go to the issuing bank.
The good news is that you can have a credit card issued by a credit union or community bank, which will in turn use your fees to support operations you can feel good about.
Or, look for these logos for credit cards issued by financial institutions and associations that are not major funders of fossil fuel projects:
FIND A RESPONSIBLE
CREDIT CARD
Many community banks and credit unions issue their own credit cards... the fees from these cards do not feed the money pipeline to fossil fuel projects .
Many community banks and credit unions do not issue their own credit cards but offer "co-branded" credit cards issued by other banks or financial institutions.
First National Bank of Omaha and TCM are two examples of issuing banks that are considered as alternatives to the mega-banks financing fossil fuel companies and projects.
Caution: many credit unions and some community banks offer credit cards issued by Elan Financial a unit of U.S. Bank, which is a major investor in fossil fuels.
regional banks/credit unions that issue their own credit cards:
First National Bank of Omaha (FNBO)
examples of regional banks with
"co-branded" credit cards:
Amalgamated Bank (FNBO)
Community Bank, N.A. (FNBO)
Wintrust Bank, N.A. (FNBO)
Co-Branded cards feature the brand of a retailer, not-for-profit organization, major league sport, colleges, .
Affinity cards are co-branded cards that support non-profits through your credit card purchases. Each time you use an affinity card, the issuing bank donates a set amount to a partner nonprofit - averaging half a penny for every dollar you charge.
Co-branded and affinity cards are issued by a bank or other financial institution and can be used wherever the credit card network (Visa, Mastercard, Amex) is accepted.
Caution: Many co-branded and affinity credit cards are issued by the mega-banks: Costco/Citi; The Nature Conservancy/Bank of America; Amazon Visa/Chase; Target/TD Bank.
Look for credit cards issued by Synchrony or Bread Financial (formerly Comenity), which do not have significant investments in fossil fuel companies.
Synchrony (partial list): Sam’s Club, PayPal, Venmo, Verizon.
Store cards are private label credit cards branded for a specific store or brand.
Store cards are issued by a bank or other financial institution only for use at a specific store. Most store cards do not use a credit card network and do not have transaction fees or annual fees.
Look closely as some store cards are issued by a mega-bank, but there are many issued by Bread Financial or Synchrony (which issues the "Amazon Prime" store card).
#3 HOME & AUTO INSURANCE
If you insure your home and/or auto with Liberty Mutual, Travelers, All-State, GEICO, State Farm or other major insurance companies, then some of your money is likely being used to both insure and invest in the excavation, production and distribution of oil, tar sands, coal and gas. Learn how to find mutual insurance companies that do not insure nor invest in fossil fuel projects.
GET INSURANCE COMPANIES OUT OF FOSSIL FUELS
Insurance companies are backing some of the most dangerous fossil fuel projects in the world. To make matters worse, they’re pulling your coverage when climate change hits. Join us is demanding that Liberty Mutual and the nation’s top insurance companies respond to the growing climate crisis.
Insurers & Investors in Fossil Fuel
(extraction, production &/or distribution)
AllState
Chubb
Erie
Farmers (Zurich)
GEICO (Berkshire Hathaway)
The Hartford
Liberty Mutual
Nationwide
Progressive
State Farm
Travelers
USAA (Charles Schwab)
Alternatives (available New York State):
NYCM (New York Central Mutual)
Preferred Mutual
Sterling Insurance Cooperative
Utica Mutual
NATIONAL INSURANCE COMPANIES INSURE &
INVEST IN FOSSIL FUELS
Insure Our Future is a campaign holding the insurance industry accountable for its role in the climate crisis. We promote a rapid shift of the insurance industry away from supporting and financing fossil fuels to accelerating the transition to a clean energy economy.
#4 INVESTMENTS
Most financial institutions are complicit in the climate crisis. Large asset managers - companies that people pay to manage and invest their money - such as BlackRock, Vanguard, State Street, and Capital Group are the among the largest investors in fossil fuel companies. Learn about the funds you are now investing in and how to find alternative investments... and how to find an environmentally conscious financial advisor.
Third Act Upstate New York and Rivers & Mountains GreenFaith, Inc. are not qualified investment or financial advisors, or any other kind of advisors. Information is provided as a public service to use - or not - for one's own purposes and at one's own risk. Third Act Upstate New York and Rivers & Mountains GreenFaith, Inc. do not endorse, and specifically disclaim responsibility for the future performance of, any bank, insurance company, financial advisor, asset manager, investment fund, or other financial business or product.