Your Bank Is Making Choices With Your Money. Are They Yours?
In the last post, I asked where your money is sleeping. This week I want to go a level deeper — because knowing where it is and knowing what it’s actually doing are two very different things.
Specifically: your bank.
I ask a lot of questions in my work. But one of the most revealing isn’t about investing at all.
It’s this: Why did you choose your bank?
The answers are almost always the same. My parents banked there. It was convenient. I liked the app. I never really thought about it.
And that’s exactly the point.
Most of us chose our banks the way we chose our first email address — based on what was available at the time, without much thought about what we were actually signing up for. And then we just... stayed.
But here’s what most people don’t realize: your bank is not a neutral place where your money waits patiently for you to use it. Your deposits are actively being put to work — loaned out, invested, multiplied. In fact, for every $1,000 you deposit, your bank can lend out up to $10,000. Your money has far more power in the system than you think.
The question is: power toward what?
What Big Banks Are Actually Funding
Many of the largest financial institutions in the country — the ones with the best apps, the most ATMs, the catchiest commercials — are among the top funders of fossil fuels, weapons manufacturing, private prisons, and deforestation.
This isn’t a conspiracy. It’s publicly available information. Most people just haven’t looked.
These large financial institutions were originally created to serve working people. Over time, profit-driven priorities have shifted where their capital flows — and it often flows away from the communities their customers actually live in.
That doesn’t mean you have to leave tomorrow. But it does mean it’s worth asking the question.
There Are Real Alternatives
The good news: you have more options than you probably know.
Credit unions are member-owned and community-rooted. Profits get reinvested back into members and local neighborhoods, not shareholders.
CDFIs (Community Development Financial Institutions) exist specifically to serve underserved communities — funding affordable housing, small business development, and financial access.
Green banks direct deposits toward clean energy and climate solutions.
Affinity-focused banks like OneUnited (Black-owned), First Women’s Bank (women-led business focused), and Climate First Bank prioritize racial, gender, and environmental justice.
Amalgamated Bank, Southern Bancorp…the list goes on and one for options!
And many of these institutions have strong mobile apps, competitive rates, and the same FDIC or NCUA insurance protections as the big banks. The barriers to switching are smaller than most people think.
Tools Worth Knowing
If you want to see how your bank actually stacks up, there’s a free tool called Mighty Deposits that lets you look up any financial institution and see where it lends and invests — including how much goes back into your community versus into industries you may not want to support. You can also search for values-aligned alternatives in your area, filter by cause, and compare institutions side by side.
Bank for Good offers something similar— a straightforward way to find ethical banking options that align with your values. There’s an EU site for this one as well, although there’s not many options listed for Portugal.
I haven’t yet found many equivalent tools for continental Europe. If you know of one, I’d genuinely love to hear about it — drop it in the comments. I’d love to share it with the women I work with.
Beyond Your Checking Account
Your bank is just one piece. Many of us also hold cash in places we don’t think about much — CDs, money market accounts, savings that are earning minimal returns and funding who knows what.
There are values-aligned options here too:
Green bonds fund renewable energy and climate resilience
Social bonds support affordable housing, education, and healthcare
Gender lens bonds direct capital toward women-owned businesses
Community and municipal bonds fund local schools, housing, and infrastructure
These aren’t exotic investments. They’re practical tools that offer steady returns — and let your money support what you actually care about.
You don’t have to overhaul your entire financial life this week. But you do have to start asking the question.
Where is your money sleeping — and is it doing what you’d want it to do?
This is part of an ongoing series on values-aligned investing and building financial power. If this resonated, share it with someone who needs to ask this question.