MY GREEN BLOG

Do you remember the good ‘ol days when you’d use to go into a bank and sit down with their representative to discuss your needs for a loan. You may have banked there for many years and they didn’t need a credit score to determine whether to lend you money or not. Well, maybe you don’t remember these days but they did exist at one time. Are they about to be coming back?

With the collapse of major financial institutions across the nation many mid-level banks and credit unions are gaining market share. California Community Bank increased its loan growth by 24% in the 3^rd quarter and many of its peers in the Bay Area are reporting the same thing. The main reason for this is that most of the middle level size banks did not get involved in the securitizing of subprime loans thus they were not on the hook when those loans then went bad. So now they are in a better position to lend money collectively than the larger banks.

So what does this have to do with going green? Well for one it’s about buying local. Banking with a local credit union or local bank or transacting with local merchants in general helps our local economy ten-fold. It keeps the profits from these transactions returned back into the local economy. This helps to support your neighbor, which once trickled down will support you a lot faster than larger national organizations. Buying local is sustainable, which is a key to being green.

So next time you need some help with your banking or financial needs. Think about checking out your local bank or loan officer, though we are not back to the times where just a person’s word and good reputation are enough to lend money, they may care a little bit more and have a lot more vested interest in your success, and be able to do more for you than their larger competitors.

Till Next Time,

Jeff