The Bank Transfer Day grassroots movement urging people to move their money out of big banks by Nov. 5, coupled with our own Move Your Money campaign, put New Resource in the media spotlight—and led new customers to the bank in record numbers.
When New Resource client Tioga Energy needed additional financing to support municipal solar projects in the Northeast, Vice President Matt Scullin suggested that they contact Adam Capital Clean Energy Asset Finance, a private investment fund dedicated to supporting the clean energy industry. The New Resource client network paid off for both parties.
We were happy to see WWF recognizing the Global Alliance for Banking on Values in its recently released 50th anniversary report, “Green Game Changers: 50 Innovations to Inspire Business Transformation.”
New Resource Bank has a radical (for a bank) proposition: attract values-aligned deposits and use those funds to make loans exclusively to improve sustainability. The challenge: How do we measure borrower sustainability? And where do we draw the line between who qualifies and who doesn't? A related concern for us is maximizing our impact—we don’t want to be merely "preaching to the choir."
Netherlands-based Triodos Bank, the world’s preeminent sustainability-oriented bank, is both an investor in and a model for New Resource Bank. So we jumped at the chance to ask a few questions of Triodos CEO and Chairman Peter Blom when he was in San Francisco recently visiting New Resource and meeting with a group of sustainability-oriented bankers.
Triodos Bank experienced healthy growth in the first half of 2011, despite the challenging economy. Why do you think that is?
New Resource Bank is happy to be helping Heath Ceramics return to its San Francisco roots. Heath’s new factory and retail showroom in the northeast Mission District is expected to open in early 2012, creating 34 jobs. The project is the latest high-profile win for New Resource client SFMade’s campaign to return artisan-scale manufacturing to the city. SFMade helped out with its Hiring Made Better Program, which provides manufacturers with direct hiring assistance and connections to other resources. New Resource is financing upgrades and equipment for the Heath facility.
New Resource CEO Vince Siciliano will speak at the SRI in the Rockies conference, happening this year in New Orleans Oct. 2–5, on a panel discussing “Innovation and Impact: Investing for a Truly Sustainable Future.” The session will focus on new products, improving transparency, social metrics, fiduciary standards, and developing the overall infrastructure for investing with maximum impact.
New Resource Bank’s new, improved online banking system is now live. Customers, if you haven’t checked it out yet, the first thing you’ll notice is a streamlined user experience—for example, whether you have a business or a personal account, you’ll log in directly from the home page. Other improvements, active now or on the way, include:
Fast money transfers, in real time
New Resource customers get free entrance to the 10th annual Green Festival, happening November 12–13 at the San Francisco Concourse Exhibition Center—just show your Planet-Smart Debit Card at the door. If you do not have a debit card, contact Tracy Tiernan to obtain a pass. Children under age 18, students and seniors also get in free.
New Resource Bank is upgrading our online banking system to give customers more powerful tools, greater flexibility and a better user experience—all while maintaining our current strict security standards.
New features will include mobile banking; a customizable dashboard so you can see what you want to see when you log in; a new financial management tool called Money Manager, available to business and personal banking customers; expanded money transfer options; and streamlined log-ins.