15 B Corp Banks To Consider in 2022

Certified by the nonprofit organization B Lab, B Corps must balance profit and purpose and consider their impact on employees, communities, and the environment. If you are searching for a socially responsible bank, B Corps are a great place to start.

SustainFi   Updated April 2nd, 2022

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What are certified B Corps?

Certified B Corporations are for-profit companies that undergo a rigorous certification process on five categories: corporate governance, worker treatment, impact on the community, impact on the environment, and customer treatment. To be certified, companies must score over 80 on a 200-point B Impact Assessment administered by the B Lab, a nonprofit.

The process requires companies to submit a lot of documentation. All B Corps must renew their certification every two years, and some are randomly chosen for annual checks. Certifications are open to businesses in different industries, and well-known brands like Patagonia and Ben & Jerry’s are also B Corps.

At the time of this writing, there were 15 B Corp banks in the U.S.

💰 B Corp Bank list

15 B Corp Certified U.S. Financial Institutions

Amalgamated Bank

Impact AreasClimate change and sustainability, immigrant rights, LGBTQ rights, criminal justice, workers’ rights, gun safety, and reproductive rights
Minimum Balance$0
Account Maintenance Fee$0
Accounts Offered• Checking and savings accounts
• Credit cards
• Investment accounts
• IRAs
ATMs40,000 free in-network ATMs nationwide (Allpoint network)

Pros

  • A politically active bank that doesn’t fund fossil fuels
  • No minimum balances or monthly fees for online accounts

Cons

  • Low app rating
  • Low APY
  • No sign on bonus

Founded by a labor organizer in 1923, Amalgamated Bank is one of the best-known socially responsible banks with over $7.6 billion in assets.

Amalgamated Bank is a certified B-Corp and a member of the Global Alliance For Banking on Values (GABV). It serves labor unions, nonprofits, social enterprises and contributes to political campaigns that align with its values (which are climate-friendly, pro-choice, and pro-workers right to unionize).

The Bank is strongly committed to the environment. Its operations are 100% carbon-neutral, and it has pledged not to invest in or lend to fossil fuel companies. The bank also provides hundreds of millions of dollars in solar financing annually.

The Bank has branches in New York City, Washington, D.C., Boston, and San Francisco. Customers can access a network of over 40,000 ATMs nationwide.

🔔 Read a comprehensive review of Amalgamated Bank.

Aspiration

Impact AreasClimate change
Minimum Balance$0
Account Maintenance Fee• Aspiration account: pay what you want
• Aspiration Plus account: $7.99/month ($5.99/month if you pay upfront for the year)
Accounts Offered• Checking and savings accounts
• Investment accounts
• IRAs
• Credit card
ATMs• 55,000 free in-network ATMs nationwide
• 1 free out-of-network ATM withdrawal per month for Plus accounts

Pros

  • Strong commitment to socially responsible banking
  • High-yielding Save account (for balances under $10,000)
  • Great app and online experience
  • A mutual fund that doesn’t invest in fossil fuels
  • Personal impact score for your spending
  • Aspiration donates 10% of every $1 in fees
  • Planet Protection option: Plus account offers automatic offsetting of carbon emissions for each gallon of gas you buy
  • Cash-back on Conscience Coalition (includes TOMS, Warby Parker, and Blue Apron) purchases
  • “Plant your change” program rounds up your spending to plant trees

Cons

  • Must spend $1,000/month to receive 3%-5% APY on the first $10,000
  • APY on balances over $10,000 drops to 0.10% for Aspiration Plus members (0% for basic Aspiration accounts)
  • No branches
  • No cash deposits

Founded by Andrei Cherny in 2013, Aspiration is a fossil free neo-bank with social goals. Aspiration’s mission is to help customers “make money while making the world a better place.”

It’s the only financial institution that lets you pay what you think is right for basic checking account services. Aspiration also donates 10% of fees to nonprofits helping people in need. And you can be sure that none of your money goes to fund fossil fuels.

Aspiration offers checking and savings accounts, a credit card, IRAs, investment accounts, and a fossil free mutual fund. But it’s the cool extras that make Aspiration shine. As an Aspiration customer, you get a sustainability score of your spending habits, cash back when you spend at sustainable businesses such as TOMS, carbon offsets when you buy gas, and the option to plant trees by rounding your change to the nearest dollar.

In addition, you can get up to 5.0% on the first $10,000 you deposit in the Aspiration Plus account (3% for the Aspiration account). Aspiration Plus costs between $5.99 and $7.99 per month, depending on whether you pay monthly or annually. Interest gets less attractive (0.10%) on deposits over $10,000. (Standard Aspiration accounts do not earn interest on balances over $10,000.)

Note: Aspiration is technically a broker-dealer, not a chartered bank. However, Aspiration partners with banks to ensure your deposits are FDIC-insured.

🔔 Read the complete review of Aspiration.

Ando

Impact AreasClimate change
Minimum Balance$0
Account Maintenance Fee$0
Accounts OfferedChecking and savings accounts
ATMs37,000 free in-network ATMs nationwide (Moneypass network)

Pros

  • A neobank focused on fighting climate change
  • Track where your money is invested
  • Earn up to 5.00% APY (on the first $5,000) if you invite five friends and they sign up
  • Earn 1.5% cash back

Cons

  • No branches
  • No sign up bonus
  • Account balance and deposit limits
  • Must invite friends to get 5% APY

San-Diego-based Ando Money is an online bank that invests your deposits exclusively in eco-friendly projects like renewable energy or sustainable agriculture. Ando never funds fossil fuels. Ando’s app has an Impact Center, where you can see what activities your deposits are funding. Ando Money was launched to the public in January 2021.

Ando offers no-fee, no-minimum checking and savings accounts. Checking accounts come with a Visa debit card that uses 80% less plastic than typical cards. Customers have access to a network of 37,000 free ATMs.

You can earn up to 5.00% APY (on the first $5,000) if you get five friends to sign up and they become active customers. The standard APY is 0.17%. You also get 1.5% cash back on debit card purchases.

Your deposits are FDIC insured for up to $250,000 through Community Federal Savings Bank, member FDIC.

🔔 Read the complete review of Ando.

Compare socially responsible bank accounts

Green bank that doesn't fund fossil fuels

Responsible bank that supports local communities

A green bank funding clean energy projects

Monthly fee

Pay What Is Fair

Monthly fee

 $0

Monthly fee

 $0

APY

Up to 5.0%

APY

1.01%

APY

Up to 5.0%

Androscoggin Bank

Impact AreasServing the local community in Maine
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Certificates of deposit
• Money market accounts
• Credit cards
• Health savings accounts
ATMsAt eight branch locations

Pros

  • Highly rated app

Cons

  • Limited ATM network and no ATM fee refunds with the Mobile Checking Account
  • Low APYs

Founded in 1870, Androscoggin Bank serves communities throughout Maine. It offers checking and savings accounts, money market accounts, certificates of deposit, HSAs, and credit cards.

Headquartered in Lewiston, Maine, Androscoggin Bank is committed to having 75% or more customers located within 50 miles of their primary branch. (Indeed, it lacks an ATM network beyond its branch locations.)

Androscoggin Bank is Member FDIC.

Atmos Financial

Impact AreasClimate change
Minimum Balance$0
Account Maintenance Fee$0
Accounts OfferedChecking and savings accounts
ATMs55,000 free in-network ATMs nationwide

Pros

  • 100% of deposits fund climate-positive infrastructure
  • No minimum balance
  • No account maintenance or overdraft fees
  • Attractive APY on savings
  • See the carbon impact of your money
  • Donate to nonprofits through your account

Cons

  • No branches
  • Need to make a donation to earn a 0.80% APY
  • No APY on checking accounts

Launched in January 2021 by Ravi Mikkelsen and Pete Hellwig, ATMOS Financial offers climate-positive checking and savings accounts. ATMOS makes sure that your deposits go to fund clean energy projects, not fossil fuel companies.

At the moment, ATMOS works with its partner, Evolve Bank & Trust, to send your deposits to various FDIC-insured banks, making sure that your deposits are only funding climate-positive projects. Going forward, ATMOS will be sourcing and lending to its own projects, such as rooftop solar, regenerative agriculture, and electrification. Once your deposits are placed, ATMOS will show you the carbon impact of your balances.

ATMOS offers savings accounts for various life events and purchases like electric vehicles, college, kids, etc. Rates on these accounts are more attractive than what you would typically get from traditional banks, especially if you opt to make a donation and get a donation bonus.

Note that Atmos’ B Corp Certification is currently pending.

🔔 Read the complete review of Atmos.

Brattleboro Savings & Loan

Impact AreasServing the local community in Vermont
Minimum Balance (Local Rewards Checking Accounts) $500 (to earn interest and avoid a monthly service charge)
Account Maintenance Fee$0
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• IRAs
ATMsAt seven locations

Pros

  • Attractive APY (0.75%) on Local Rewards Checking Accounts
  • High app rating

Cons

  • Very few ATMs

Founded in 1912 and serving Vermont, the Brattleboro Savings & Loan (Brattleboro) is an independent mutual bank with no shareholders. As a mutual bank, it exists for the benefit of depositors, the community, and employees.

Brattleboro offers a variety of accounts, including a high-interest Local Rewards Checking Account. However, due to a limited number of ATMs, Brattleboro is best suited for Vermont residents who live near a branch.

Brattleboro is solar-powered and gives back 10% of profits as sponsorships or donations.

Beneficial State Bank

Impact AreasSocial justice, the environment
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• IRAs
ATMs37,000 free in-network ATMs nationwide (Moneypass network)

Pros

  • Socially responsible bank with GABV, B Corp, and CDFI credentials

Cons

  • Low app rating
  • Low APYs
  • Few extras

Founded in 2007 in California, Beneficial State Bank (BSB) offers savings and checking accounts online and via an app. BSB has over $1 billion in assets.

BSB is a certified B-Corp, a member of the GABV, and a certified CDFI. It’s majority-owned by the Beneficial State Foundation, a nonprofit charitable organization that advocates for responsible banking and runs the Clean Vehicle Assistance Program. Bank profits have to be distributed to the Foundation.

Although BSB doesn’t offer a lot of bells and whistles or pay a high APY, it’s a solid option for Pacific Northwest residents who are looking for basic savings and checking accounts from a socially responsible bank.

City First Bank of DC

Impact Areas• Underserved communities
• Affordable housing
• Closing the racial financial gap
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Money market accounts
ATMs55,000 free in-network ATMs nationwide including Citibank ATMs

Pros

  • Supports community development in the Washington, D.C. area

Cons

  • Low app rating
  • Low APYs
  • Few extra features

City First Bank is the only bank focused on community development in Washington, D.C. It was the first D.C. bank to achieve the B Corp certification.

In addition to the B Corp status, Citi First Bank is also a community development financial institution (CDFI). As a CDFI, the bank is focused on underserved communities and affordable housing. Around 80% of its loan portfolio is in real estate and business loans for projects and businesses located in low-income D.C. neighborhoods.

In April 2021, City First Bank merged with Broadway Financial Corporation (CFB). Today, it’s the largest black-led depositary institution in the U.S., with over $1 billion in assets.

City First Bank offers checking, savings, and money market accounts. Interest on its checking and savings accounts is at the low end, but you could still choose City First Bank to support community development in the Washington, D.C. area.

Climate First Bank

Impact AreasClimate Change
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• IRAs
• HSAs
ATMsOver 38,000 Presto! and Moneypass locations

Pros

  • A carbon-neutral bank that doesn’t invest in fossil fuels
  • Solar and electric/hybrid vehicle loans offered

Cons

  • Very low APYs
  • No interest on the no-fee checking account
  • Few branches

Climate First Bank is a newly launched bank focusing on environmental sustainability. Based in St Petersburg, Florida, the bank is a member of the GABV and is waiting to be certified as a B Corp.

Climate First has committed to being carbon neutral and never investing in oil and gas extraction. As part of its climate mission, Climate First offers auto loans for electric and hybrid vehicles as well as solar loans.

The bank is led by veteran banker Ken LaRoe, who previously launched and sold First Green Bank, also in Florida.

Climate First offers checking and savings accounts, money markets accounts, certificates of deposits, and IRAs. Any account will also give you access to Climate First’s budgeting tools.

🔔 Read the comprehensive review of Climate First Bank.

Mascoma Bank

Impact Areas• Affordable housing
• Community development
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• Health savings accounts
ATMsAt Mascoma branches

Pros

  • High-yielding checking account option (MORE Checking)
  • Highly rated app

Cons

  • No ATM network outside of branches
  • Very low APY on savings accounts

Mascoma Bank is a mutually owned community bank with branches in New Hampshire, Vermont, and Maine. It has been providing community financing for 120 years. A socially responsible bank, Mascoma Bank donates 10% of pre-tax income to charity.

The bank provides checking and savings accounts, mortgages, and personal loans. The MORE Checking account is particularly attractive. You earn 0.50% in interest for up to $25,000 deposited in the account (it drops to 0.10% on deposits over $25,000.)

However, Mascoma Bank doesn’t belong to any ATM network, so if you regularly withdraw cash and don’t live next to a branch, it may not be the best option for you.

Compare socially responsible bank accounts

Green bank that doesn't fund fossil fuels

Responsible bank that supports local communities

A green bank funding clean energy projects

Monthly fee

Pay What Is Fair

Monthly fee

 $0

Monthly fee

 $0

APY

Up to 5.0%

APY

1.01%

APY

Up to 5.0%

Piscataqua Savings Bank

Impact AreasServing the local community in Portsmouth
Minimum Balance$1
Account Maintenance FeeVaries
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
ATMsThousands of SUM network ATMs

Pros

  • Independently owned bank
  • Highly rated app

Cons

  • Limited ATM network

Piscataqua Savings Bank is an independent community bank serving the Portsmouth area since 1877. They offer checking and savings accounts, money market accounts, and certificates of deposit.

In 2019, the Bank became a B Corporation to reinforce its commitment to customers, community, and employees. It is the ninth company in New Hampshire to be certified.

The Bank is also known for supporting the arts in the local community

Southern Bancorp

Impact AreasRural community development
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
ATMsAt branches

Pros

  • Socially responsible bank with multiple credentials
  • Supports rural community development

Cons

  • No ATM network outside of branches
  • Low APYs
  • Low app rating

With $1.6 billion in assets and over 65,000 customers, Southern Bancorp is one of the South’s largest socially responsible banks. It is a member of the GABV, a B Corp, and a CDFI-certified institution. It primarily serves rural communities in the mid-South.

Southern Bancorp offers checking and savings accounts and personal loans. However, the 0.10% APY on interest checking and savings accounts is low.

Further, Southern Bancorp is not part of any ATM networks, so if you want to withdraw cash, it’s easier if you live in Arkansas or Mississippi, where Southern has 49 branches. Online and mobile banking are offered, though the app is not highly rated.

Spring Bank

Impact AreasHelping underserved communities in New York
Minimum Balance$0
Account Maintenance Fee$0
Accounts Offered• Checking and savings accounts
• Money market accounts
• IRAs
• CD savings accounts
ATMs46,000+ free in-network ATMs nationwide (Moneypass and Citibank networks)

Pros

  • High-yielding savings account
  • Highly rated app
  • Good ATM network
  • Community Chest Savings account: Spring Bank matches a percentage of your savings and donates to a nonprofit

Cons

  • Only two branch locations

A B Corp and a certified CDFI, Spring Bank was established in New York in 2007. It supports low-income communities and underserved businesses in the New York City area. The bank has two branches in New York, in Bronx and Harlem. In fact, Spring Bank was the first bank to base its headquarters in the Bronx in over 25 years.

The bank offers several checking and high-yield savings accounts, including the Community Chest Savings account, where Spring Bank matches a percentage of your savings and donates it to a nonprofit. The rates on checking and savings accounts are relatively attractive. Spring Bank also offers IRAs, money market and CD savings accounts. The mobile app is highly rated, and the ATM network is wide.

Sunrise Banks

Impact Areas• Affordable housing
• Diversity and inclusion
• Local community development
Minimum Balance$0
Account Maintenance Fee$0 (terms may apply)
Accounts Offered• Checking and savings accounts
• Certificates of deposit
• IRAs
ATMsAt six branches

Pros

  • Socially responsible bank with multiple credentials
  • Highly-rated mobile app
  • High-yielding checking account option for deposits under $10,000
  • UChoose Rewards: earn points that can be redeemed at hundreds of retailers nationwide

Cons

  • No ATM network
  • Low APYs on savings accounts

Serving the Minneapolis and St. Paul areas for three decades, Sunrise Banks has $1 billion in assets and 250 employees. It has a triple socially responsible designation as a B Corp, a certified CDFI, and a member of the GABV.

As a CDFI, Sunrise Banks gives 60% of its loans to distressed communities, focusing on affordable housing, small businesses, and nonprofits. It also aims to reduce the carbon footprint of its loan portfolio in alignment with the Paris Climate Agreement.

The bank donates at least 2% of its profit per year and gives employees 40 hours of paid time off to volunteer for causes like Habitat for Humanity.

Sunrise Banks offers checking accounts, savings accounts, IRAs, and certificates of deposit. The bank has a highly-rated mobile app but lacks branches beyond the six located in the Minneapolis-Saint Paul area.

Virginia Community Capital (VCC Bank)

Impact Areas• Affordable housing
• Diversity and inclusion
• Local community development
Minimum Balance$0
Account Maintenance Fee$0
Accounts Offered• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• IRAs
ATMsNone

Pros

  • Support a CDFI with a social mission

Cons

  • No ATM network

Virginia Community Capital (VCC) is a CDFI with offices in Christiansburg, Norfolk, and Richmond, Virginia. VCC was established in 2006 to make a difference in underserved areas around Virginia. VCC invests in areas like affordable housing and solar energy financing.

VCC estimates that it has turned a $15 million seed investment into over $1.8 billion in impact in Virginia, including creating or retaining 11,703 jobs, financing 9,999 affordable housing units, supporting 28 food access projects and funding 19 healthcare facilities.

VCC offers no-fee, no-minimum-balance checking and savings accounts through VCC Bank, though it doesn’t have an ATM network.

Compare socially responsible bank accounts

Green bank that doesn't fund fossil fuels

Responsible bank that supports local communities

A green bank funding clean energy projects

Monthly fee

Pay What Is Fair

Monthly fee

 $0

Monthly fee

 $0

APY

Up to 5.0%

APY

1.01%

APY

Up to 5.0%

🔔 Interested in more sustainable bank accounts? Check out our guide to socially responsible banks.

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