10 Places to Park Your Cash, Earn Interest and Do Good

Social Enterprise

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Posted On: September 30

10 HIP PLACES TO PARK YOUR CASH, EARN INTEREST AND DO GOOD

Does the Dow got you down? Well fly to safety!

Here are 10 places to park your cash and savings nationwide - a selection of the most innovative banks, credit unions and newer financial firms - that can deliver strong, positive human, social and environmental benefits while also creating profit – for your bank and your portfolio. Human Impact AND Profit, now that's "HIP".

1. The Green Bank in Texas embraces innovative technology and old fashioned customer care while consciously promoting environmental responsibility. (www.greenbank.com).

2. Chittenden in Vermont has built an impressive
Socially Responsible Banking program (SRB), the centerpiece of their comprehensive community development initiatives (www.chittenden.com).

3. ShoreBank Pacific, in Washington and Oregon, operates on a “triple bottom line" philosophy, and expects customers to do the same (www.eco-bank.com).

4. As a local customer-owned community bank, Home Savings Bank in Dane County, Wisconsin is committed to
being a positive influence on the local economy and the environment. They offer a full suite of green financial products (www.homesavings.com).

5. Wainwright Bank in Massachusetts (and publicly listed on NASDAQ: WAIN) operates on a progressive social agenda based on the 1960s civil rights movement (www.wainwrightbank.com).

6. The non-profit Center for Community Self-Help in
North Carolina provides financing, technical support and advocacy for those outside the economic mainstream (www.self-help.org).

7. Charter Oak Bank in Northern California, is only in its fourth year and has surpassed $100 million in assets. This
community bank in Napa Valley focuses on providing products and services to meet local needs (www.charteroakbank.com).

8. Founded by renowned entrepreneurs, business leaders and highly experienced bankers, the New Resource Bank in Northern California focuses on how banking can empower businesses, organizations and individuals to have greater impact - they also provide loans for solar panels and renewable energy (www.newresourcebank.com).

9. Zopa is a global social-finance company with operations in the United States, the UK and Italy - open up an attractive interest-rate Certificate of Deposit (www.zopa.com).

10. Old Hickory Credit Union in Tennessee offers a green checking option which includes E-statements only, recycled checks,unlimited reimbursment of ATM fees, free online bill payment, and more, all to minimize paper use (www.ohcu.org). Similar options are cropping up everywhere - ask your banker what they offer!

LEARN MORE HERE, and share your recommendations on other HIP places to park your cash!

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Tags: Social Entrepreneurship, Nonprofit Organizations, Social Innovation, Social Investment, Venture Philanthropy, Cause Global, Best Practices

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Kevin Long 2 October 2008

Does anyone know of Global-South based equity investment programs with a social focus?

Elizabeth U 1 October 2008

Another great option is RSF Social Finance’s Social Investment Fund, which currently offers a 3% return (return varies quarterly, with a 3.50% average over the last 3 years). The fund provides loans to nonprofit and social enterprises dedicated to transforming the world in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. While not FDIC insured, RSF’s Social Investment Fund has always paid investors their return, and the borrower default rate is lower

Martin Smith 1 October 2008

Paul, these are great. Do you have any recommendations in Europe and Asia as well?

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RPaul Herman
Justmeans News Writer

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