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Students across the country are breaking up with the big banks and bringing community investment to their campuses. Learn more about our campaign!
Our Schools and Wall Street Big banks can take our universities' money and use it to finance mountaintop removal coal mining, risky investments in derivatives, high fees on credit cards, lobbying to bend and break time-tested laws, and predatory loans to low-income people. Around the country, students and other stakeholders are already taking action to say that their schools do not support the practices of the national banks whose irresponsible and exploitive practices contributed to the financial crisis, and are demanding their schools divest from Wall Street.
The Alternative: Community Finance Community development financial institutions, like credit unions and community banks, have missions to lend to local individuals and businesses who want to improve their communities in socially positive and sustainable ways. By focusing on affordable housing, small business creation, environmental issues, empowerment of women and minorities, and providing financial services to underserved populations, community investment addresses many economic and environmental challenges.
Towards a Responsible Endowment Endowments are huge amounts of money, and figuring out where to start can be overwhelming. Before moving money to environmental funds, engage with major corporations, or divest from the worst of the worst -- yes, your school could do all of these things! -- you have to prove that responsible investment is legitimate. This is the first, simplest, and safest step towards showing your administration that a responsibly invested endowment can be a reality.
Over the past decade, while the big banks have been faltering, defrauding, and getting bailed out, community investment has grown from a $4 billion dollar industry to a $25 billion industry. Some universities have taken notice, but most have not - simply because nobody has yet stood up and demanded that it be so. If you moved your money on Bank Transfer Day, your school can too!
Learn more and join our campaign >>
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