Friend,
I hope you and your loved ones are well, as we all grapple with this unprecedented challenge.
As you know, another crisis unlike any we've ever faced — climate change — is ongoing and needs our attention too, or the damage may soon be irreversible. While we're in the midst of the coronavirus crisis, we thought we'd highlight a safe and easy way to continue fighting the climate crisis.
But maybe you didn't know that where you keep your money could be contributing to the problem. Here's how:
the big banks use customer deposits like yours to finance the fossil fuel companies and projects that are destroying the Earth.
And we're not talking about pocket change. In 2019
alone, the biggest U.S. financial institutions — including Wells Fargo, Chase, Citi, and Bank of America — poured over $250
billion into the fossil fuel industry.
1
Here's the good news: at LCV we know there are financial institutions out there that refuse to align with Big Oil, Dirty Coal and other polluters. Like us, they cherish our planet, the sanctity of its land, and the health of its people.
That's why we're proud to partner with Aspiration — a very different kind of financial firm. Aspiration refuses to use customer deposits to finance planet-destroying projects like pipelines and oil drilling.
Learn more about Aspiration and how their new Spend & Save Account can help you divest your deposits from fossil fuels and save more money while you're at it.
Here's a little more about Aspiration: it's a fast-growing financial firm with a conscience, dedicated to bringing fair, sustainable banking and investment products that help its customers both "Do Well" and "Do Good." Plus, everything is online, so you can switch to Aspiration from home with a computer or smart phone.
With the Aspiration Spend & Save Account, you also have the option to plant a tree with every purchase you make, and to drive carbon-neutral with automatic carbon offset whenever you buy gas.
They also offer cash back rewards when you shop at businesses that care about people and the environment, along with up to 1.00% APY interest on your savings, and unlimited fee-free withdrawals at over 55,000 ATMs worldwide.
We hope you'll take a minute to see what Aspiration is all about — you might discover how to make your wallet, and your world, a little greener.
The League of Conservation Voters continues to work tirelessly in the fight against climate change, and we know our supporters like you are right there with us. We cannot afford to allow the banks fueling climate change to get away with it.
So as we come together to take care of one another during this difficult period, let's all try to keep taking care of our planet too.
Thanks, and stay safe,
Vinnie Wishrad
Senior Vice President, Membership and Online Engagement
League of Conservation Voters
1 Banking on Climate Change: Fossil Fuel Finance Report 2020, by Rainforest Action Network, BankTrack, Sierra Club, Oil Change International, Indigenous Environmental Network and Reclaim Finance.
The Aspiration Spend & Save Account is a cash management account offered by Aspiration Financial, LLC, a broker dealer, not a chartered bank. Deposits in your Aspiration account are FDIC Insured* up to $2 million per depositor by being swept up to FDIC Member institutions.
Switching to Aspiration could mean saving up to $400 or more per year, based on interest earnings on the US household median bank balance from the Federal Reserve's Survey of Consumer Finances and the difference between Aspiration's 1.00% APY and 0.03% APY interest checking account APY average at the US's largest banks reported as of 2/11/19: Wells Fargo (0.01% APY), Chase Bank (0.01% APY) and Bank of America (0.06% APY with "Preferred booster"); the average checking account monthly fee reported on 2/11/19 by Wells Fargo, Chase Bank and Bank of America; average out of network ATM fee expenses derived from ATM withdrawal data in the 2019 Federal Reserve Payments Study and banked household data from the 2017 FDIC National Survey of Banked and Underbanked Households; and overdraft fee averages estimated in a Nerdwallet Analysis of 2014 CFPB data.