I created an account here maybe around 6 years ago because of its ethical policies to not invest in fossil fuel and similar "bad" industries and instead investing in ethical companies. Usually traditional banks have huge business accounts with environmentally and ethically unfriendly companies where businesses make money through the bank via higher interest and other investments. I believe Aspirations network of banks are not involved in this. (I haven't done deep research but that's what I got from reading Aspiration's mission)Also I like the fact that Aspiration doesn't require annual fees and make it optional. If I wanted additional perks like 6% back in ethically invested companies and higher interest in savings I can optionally apply for green fi (aspiration) plus card for around $50/year. They also have an investment fund people can invest in but it has a pretty high management fee, which is why I didn't pick this. The app for the bank is easy to use. Similar to other ethical banks and B corp banks like amalgamated, aspiration/green fi is a good choice for ethical investors who want to get away from big banks.
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GreenFi is a climate-friendly financial firm. GreenFi helps our customers spend, save, and invest with a conscience so you can make money while making the world a better place. And, unlike the Big Banks, we don’t use your deposits to fund oil pipelines or turn your fees into campaign contributions to the politicians that work against you.
The GreenFi Checking & Savings account offers up to 6% cash back, up to 3.00% annual percentage yield (APY), and unlimited fee-free withdrawals at our network of over 55,000 ATMs. Through our Pay What is Fair program, you choose your own fee based on what you think we deserve, even if it’s $0. Terms and conditions apply, see greenfi.com/policies for details.
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