Simple Steps Towards a Healthier Community for All
A bank account is used for a few main functions—depositing money, holding money, withdrawing money. What you may not realize is that your money doesn’t just sit in your account, waiting for a time until you need it. Instead, your bank is using that money to leverage loans it is giving to other customers.
That brings us to this question: is the money you’re depositing supporting causes that are important to you? Depending on your beliefs and where you bank, that answer may be no.
BY THE NUMBERS
$4.4 Million
4M (average balance) in Net Zero Deposits were allocated to corresponding Net Zero eligible loans between July and December of 2024.
$21.8 Million
in Net Zero Loan projects have been financed as of December 2024
$294 Million
has been designated by customers to Community Impact Deposits as of December 2024
$33.5 Million
in New Markets Tax Credit allocation was deployed in 2024 through nine projects, five of which included investments in environmental remediation or energy efficient features/upgrades. Through these projects, we anticipate helping to create or retain 738 jobs in these communities
$600 Million+
annually in mission-aligned lending
60%+
of the Sunrise Banks lending portfolio is directed to low-to-moderate income communities
Take climate change, for example. According to Project Drawdown, some banks invest up to 30% of their lending portfolio in carbon-intensive industries, such as fossil fuel companies, aviation, mining and waste management. That means your bank account may be contributing, indirectly, to those greenhouse gas emissions.
A growing number of banks, like Sunrise Banks, are creating innovative ways for customers to positively align deposits with measurable climate and community outcomes. The Sunrise Banks Ethical Banking Program consists of two options: Net Zero Banking and Community Impact Banking.
Net Zero Banking
- Net Zero Deposits: customers can choose to designate money from their checking, savings or certificate of deposit (CD) accounts to support financing for projects that actively help reduce or avoid carbon emissions.
- Net Zero Financing: business and commercial projects that reduce or avoid carbon emissions—such as energy efficient building upgrades, clean transportation or green building construction—can qualify for financing at a lower rate than a typical commercial loan.
Community Impact Banking
- Community Impact Deposits: customers can choose to designate their deposits to projects like affordable housing, community services, and small businesses.
- Community Impact Lending: business and commercial projects in communities with untapped economic potential that drive growth, revitalization, and job creation, often leveraged through the New Markets Tax Credit (NMTC) program.
Small moves like changing where you bank can lead to a domino effect—providing more money for net zero and community impact projects, leading to economic revitalization of our local community and a cleaner, healthier planet for all. This truly shows it matters where you bank.
Learn more at sunrisebanks.com/ethical-banking.
Member FDIC. Equal Housing Lender.
