A new green bank, One Earth Bank, plans to open its first branch in Austin in June, The Austin American-Statesman reports. The financial institution will offer online banking nationwide.
The bank will feature a green deposits program that will channel customers’ money to green building projects, clean energy businesses and organic food companies, among other sustainable enterprises.
The bank’s principals say its lending practices will weigh environmental and social considerations alongside standard underwriting criteria.
The bankers plan to capitalize the venture with $23 million to $29 million.
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Comments
Wondering if the new bank (”One Earth”) might expect to have some advanced negotiating methods (aka “friendly”) on loans for new product development which come under the “green” banner? Something which would be at the ground level of “coctail napkin” concept?
charles peake April 16th, 2008