Today, there’s no shortage of ways for consumers to live a socially conscious lifestyle. They now have access to vehicles with improved fuel economy, a wide selection of organic groceries and manufacturers are increasing the amount of recycled materials they use in their products.
Despite these widespread shifts, the financial services sector hasn’t kept pace. Consider this. In 2018, the world’s largest banks lent approximately $654 billion to finance businesses in the fossil fuel industry. Much of those funds were backed by consumer funds, without their consent.
Aspiration is a financial institution that is built from the ground up on a socially conscious business model. They guarantee that 100% of customer deposits will not be used to fund harmful industries such as: fossil fuels, private prisons, firearm manufacturers, and political entities/campaigns.
Their business model also is built on fairness. Rather than nickel and diming their users, Aspiration follows a “pay what you think is fair model.” Users choose their monthly account fees, even if it is zero. Aspiration accounts also have zero required fees. Overdrafts, check deposits, and inactive accounts, all fall under that umbrella.
If you’re ready to pay it forward, learn more about Aspiration, here.