New Resource Bank
| Industry | Banking, Financial services |
|---|---|
| Headquarters | San Francisco, California |
New Resource Bank is a San Francisco, California-based bank with a mission to advance sustainability on every level: the loans it makes, its own operations, and its engagement with the community.[1] The bank is insured by the Federal Deposit Insurance Corporation and offers a range of commercial loan and deposit products, with expertise in renewable and alternative energy, green building, organic food, and green products and services. It also offers personal banking accounts.
New Resource Bank was founded in 2006 with a vision of bringing new resources to sustainable businesses and ultimately creating more-sustainable communities.[2] The bank opened with 240 founding shareholders, including Triodos Bank and RSF Social Finance. It now has about 360 shareholders; major shareholders include the Generation IM Climate Solutions Fund in addition to Triodos and RSF.
In 2010, New Resource became a B Corporation.[3] B Corporations meet comprehensive social and environmental performance standards; New Resource was the first publicly traded company to sign on.[4]
New Resource’s lending decisions factor in a sustainability measurement. The bank's goal is a loan portfolio invested 100 percent in businesses that are advancing sustainability. All new loan recipients must be green businesses or committed to improving their operational sustainability and managing their impact on society and the environment.[5][6]
New Resource is a founding member of the Global Alliance for Banking on Values,[7] a Green America board member, an American Sustainable Business Council[8] advisory board member, a member of the Green Chamber of Commerce and the Western Independent Bankers, and a San Francisco–certified Green Business.
References
- ↑ Roose, Kevin, “Amid Wall Street Protests, Smaller Banks Gain Favor,” The New York Times Dealbook, November 3, 2011, .
- ↑ Rich, Sarah, “New Resource Bank,” Worldchanging, November 15, 2006, .
- ↑ "New Resource Bank". B Lab. 2012. Retrieved January 1, 2013.
- ↑ Kamenetz, Anya, “The Financial Institutions Banking On Occupy Wall Street’s ‘Move Your Money Day’,” Fast Company, November 3, 2011, .
- ↑ "Who we finance". New Resource Bank. 2011. Retrieved January 1, 2013.
- ↑ Schultz, Clark, “New Resource Bank: The Green Bank You Are Looking For,” GreenBankReport, May 5, 2011, .
- ↑ “Big Impacts from New Resource,” Bloomberg, April 23, 2009, .
- ↑ vanden Heuvel, Katrina, “Time for a New Economy,” The Nation, February 16, 2011, .