But rather than think of this as an insurmountable barrier, try reminding yourself of the reasons why you want to make the change. It may also help to think of the different between a nice home-cooked meal compared to an energy bar eaten on the run: the bar is certainly more convenient, but does it really satisfy your body and soul? I’m willing to bet that the new financial institution you’re considering will help you make the transition as smooth as possible. Yes, it will take some work. Most things that are worth doing do, in my experience. And if convenience is your #1 value, then acknowledge that; as a former boss of mine used to say, Perfect is the enemy of the Good!

It seems that there are a few new banking ideas getting going now, and it is a pleasure to hear about them. Hopefully they will be the beginning of a ground swell to transform the financial world in the U.S. and elsewhere.
I’m involved with one of those developments, Common Good Bank, which is designed to be non-profit and will return all of the net-profit back to the communities (where branches are established) for distribution to non-profits via a depositor-lead democratic process. All investors and depositors will have a voice in the banks priorities, within the sustainable development guidelines of the charter. We are targeting 2011 for our launch.
So far we have gotten queries from individuals/groups in 16 states in the U.S., and also from Europe and Africa. There are active individuals and groups in those locations seeking to establish branches or banking models based on the Common Good Bank model.

I think there is a social evolution afoot! Thanks again for your work, and the good work of RSF. I know Sigried Finser, one of the founders of RSF, and his son, Mark, who works at the university where I’m getting an MBA. An inspired family, I’d say, and one I am grateful to know.

John White

As a professional financial advisor, I see no problem at all with the approach you outlined above. It clearly defines your goals and values and constitutes a strategy that provides a solid home for your cash and savings. The institutions you mentioned provide the same protections as mainstream institutions, but are clearly more attuned to their clients’ needs than many of their competitors.

Too often, people are swayed by those who suggest limited ways to manage one’s personal finances. The conventional view does not always align with one’s values, creating a cognitive disconnect between the individual and their assets.

Perhaps as more individuals begin to recognize the disconnect between their personal values and a financial plan that in effect places short-term profit at the top of their value chain, they will continue to spur greater demand for the types of savings and investment opportunities that will help drive a more authentic approach to their financial well-being and in turn contribute positively to a more durable future.

Thanks to you and RSF for your leadership.