118. Maybe banks don't have to suck: An intro to CDFIs

Progressive Pockets: a podcast about the untapped power of our wallets to build the world we want

Ever think about what your bank is doing with your cash? Whether your bank uses the cash in your checking and savings account to fund fossil fuel companies or gun manufacturers, the reality is that the banks are using their own set of societal values to deploy our cash every single day.

In today’s episode, let’s talk about community focused, mission driven banks that might actually share your values! The cash sitting in our bank accounts can be used to fund affordable housing in our communities, or to inject cash into small businesses that have traditionally been locked out of traditional capital.

The point is, we have options! Tune in this week to learn more!
Links from today’s episode:

Understanding CDFIs and their impact | JP Morgan

https://www.jpmorgan.com/insights/real-estate/community-development-banking/what-is-a-community-development-financial-institution-cdfi

Banks Can Deliver Both Social Impact and Profits. Here’s How | Boston Consulting Group

https://www.bcg.com/publications/2023/balancing-social-impact-and-profits-with-banking

ICYMI another episode you might enjoy:

Episode 31 (recorded before the 2024 rebranding of this show) https://pod.link/1577031108/episode/ae16a1239e052b0da35e0eb6e8999e99

Connect With Genet “GG” Gimja:

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