How to Switch to a Better Bank or Credit Union
Better banking is possible with a community development bank or credit union. Your money can go back into your community and help fund a better world.
Better Banking Starts Here
Better banking is possible with a community development bank or credit union. Your money can go back into your community and help fund a better world.
If you have landed on this page, you likely understand how banking with one of the top 9 US megabanks disproportionately funds the fossil fuel industry, and you have checked out the Green America Get a Better Bank map or another resource to find a better bank or credit union.
Understanding the problem with megabanks is the first step. Identifying a better bank or credit union is the second step. Now comes the third step: Making the switch.
Green America Resources
Switching to a new bank or credit union is a process, but Green America has several resources to help. Our resources include:
Break Up with Your Megabank in 10 Easy Steps
Learn the 10 steps for switching from a megabank to a community development bank or credit union:
- Choose a new bank or credit union.
- Open a new account.
- Make a list of automatic payments and withdrawals.
- Move your automatic deposits.
- Move your automatic withdrawals.
- Get copies of your old bank statements.
- Transfer remaining funds to your new account.
- Close your old account.
- Tell your megabank why you are leaving.
- Encourage organizations you are involved with to make the switch.
How to Break Up with Your Megabank poster
Does it help to have this printed out in one place? Use our poster with the 10 steps!
Sample Break Up Letter to Send to Your Megabank
Need some help telling your megabank why you are leaving? Use our sample letter.
Leaving Your Megabank for a Greener Option? FAQs
Before switching banks, many people have questions. Find answers to questions such as:
- Are accounts at smaller banks safe?
- Will switching to a new bank hurt my credit rating?
- I can’t find a truly green bank in my area. Now what?
Bank and Credit Cards Services Checklist
Banks and credit unions may offer a lot of different services. Our friends at This! Is What We Did have developed a checklist to help you determine which services are most important to you.
Still need more help?
This! Is What We Did offers Move Your Money Office Hours. You can book a 30-minute session with a trained peer facilitator to ask questions and get personalized assistance in switching to a new bank or credit card. Sign up for a time here
Next: Take Charge of Your Card
Closely related to getting a better bank is finding a responsible credit card. How do you do that? By finding a responsible bank or credit union that issues a credit card. Learn more here.
