So it has been several weeks since I was willing much less able to post a green investment blog entry. The market in general has been so decidedly bad that unless you have been sitting on the sidelines in all cash you have most certainly been hurt by this downward movement.
I feel like I have finally found a company, a bank no less, worth keeping an eye on. Not only for it's stance on green but also as a potential future investment.
ShoreBank is the name, "Let's Change the World" is the motto.
If you click on the motto above it links you to the page on how ShoreBank is helping its customers become more enviromentally sound. This is done mainly through education of customers and providing loans aimed at renovating existing buildings to bring them up to "green speed."
ShoreBank is currently a privately head company operating mainly in the midwest and parts of the northwest. The company shows revenue of 97.1 million for 2007. It will be interesting to keep an eye on them to see if the business model is viable going forward.
(*as a side note I have been telling anyone who asks to move their 401k or other investment dollars into a money market and wait until we see some relief before jumping back into stocks. This bear market is not done with the punishment as we could very easily dip down to the 6000 level on the Dow.)
A bank with a community first "green" agenda.
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5 comments:
There are many 'community first' banks! For more information on Community Development Financial Institutions (CDFIs, which include banks, credit unions and loan funds check out:
www.cdbanks.org
www.cdfi.org
www.cdfifund.gov
Green and ethical banking is gaining ground everywhere, most especially in Europe.
If green/ethical banking and investing interest you, have a look at my popular site on these subjects at www.investingforthesoul.com
Best wishes, Ron Robins
Good post Sean and thanks for the comments anon and Ron. As included in Anon's post, Credit Union's have long been community focused. They also are gaining market share because of much lower overhead due to modest fixed assets, including buildings and office furniture.
Banks in general are inefficient, especially those clinging to the old giant monolithic brick and mortar philosophy. Just in this area alone, smaller more agile banks have a big opportunity for growth. The fact that these banks are by their nature community focused helps also especially in this environment of distrusting mega corporations.
Well put Mr. Stambaugh. You know what else is inefficient?...Backwoods America. As some of you know, I have recently been transferred to Jackson, TN for a new job expanding and renovating a processed foods facility. You know those Celeste pizzas you can buy in the freezer section of your local grocer? If you have never been to Jackson, don't bother. My current disgust for my current position in life is definitely warping my vision right now, but I've been here 4 days and I've never seen so outdated and obsolete a place. And we all thought Auburndale was bad. A wonderful step for the new administration to take in its promised efforts to make America greener would be to focus on a grass-roots approach and work up from there. Improving government buildings is certainly a good idea, but there really should be an effort made to update the infrastructure of rural America. Maybe a good starting point for the new Middle-Class Task Force. Or maybe I'm just venting b/c of how distressed I am about being here in the first place.
Thanks Pat. Sorry to hear about your new home, but thanks for making me feel better about living in Hattiesburg, MS, where there are 3 Super Walmarts and nowhere else for groceries.
You should write an extended post on the things you brought up, it will make you feel better or it could just infuriate you more. It's a toss up really.
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