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How Do Banks Use Your Deposits?

How Do Banks Use Your Deposits?

Here’s something not everyone knows: banks have enormous freedom when it comes to how they use the money you place in your savings and checking accounts. Where to invest and who to loan to are woven into a bank’s mission, and shows what they value.

For 40 years, National Cooperative Bank has served businesses that seek to make a positive local impact, because we believe it's just the right thing to do with your money. As part of our creation, NCB has an uncommon mandate to ensure our efforts benefit those most in need, supporting low-income communities and the expansion of cooperative initiatives. In this way, we contribute to the building blocks of sustainable communities: investing in clean energy, small businesses and affordable housing, expanding access to healthy food and accessible health care, plus much more.

In other words, NCB chooses to put their customers’ money to work for good.

"I love making a difference with my money, and I don't even have to think about it." - Kathryn, Washington D.C.

National Cooperative Bank was established to address the financial needs of an underserved market: cooperatively owned organizations, which operate for the benefit of their members, not outside investors. When local, independent businesses like grocery stores and community health clinics can secure reliable bank loans, they can open and operate in communities where such services are deeply needed yet frequently absent.

In 2018 alone, NCB provided $240.4 million in low- and moderate-income communities helping to create 227 new jobs and financing 46 affordable housing communities totaling 4,007 units.

Of course, the credit for funding cooperative initiatives in underserved communities do not go to NCB alone, but equally to their customers, who have chosen to put their money into our new Impact Banking accounts.

Impact Banking is a hallmark offering at National Cooperative Bank because it’s banking that our customers can feel good about. The Impact Checking and Savings accounts we offer delivers a one-two punch that few other account services can match:  meaningful returns for customers, while also benefiting local communities. It’s possible for a bank to deliver value and invest responsibly because it’s what we have been doing for 40 years.

The bottom line is this: We believe that banking should be something that people can choose to align with their values, like selecting organic produce at the grocery store or shopping local. So we designed services to facilitate that choice, by providing all of the conveniences that customers love—like free ATMs and mobile banking—and adding on top of that customer's ability to see their money at work, helping to enrich communities.


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