1:5:10:365 EcoTip Blog

September 9, 2010

Shore Bank closed by Fed

Filed under: :298 Eco Banking — John Banta @ 4:40 pm

This last week I received a notice that my account with Shore Bank has been affected by a take over by the Fed. My account remains intact and was FDIC insured – but it sure is frustrating. Anyway I now need to decide what new eco-investment I want to consider.

By way of full discolosure – I have never received any compensation for listing any of the products listed on this blog.

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October 24, 2008

:298 Eco Banking

September 9, 2010 update;

Last week I received a notice from the Feds that Shore Bank has been closed –  another one bites the dust.

Welcome to today’s 1:5:10:365 Tip for becoming a better steward for our home and planet environment.

1:5:10:298 EcoTip:  Today I would like to suggest that if you want to save for a big ticket item (think hybrid car or solar installation) use your do-it-yourself carbon credits (:032) and save them in an environmentally and socially responsible bank like ShoreBank. This means your money will help support the environment while you are saving it, and will bring in some interest until your ready to use it for your purchase.

I’ve been wanting to post an investment EcoTip for some time, but was uncomfortable making stock market suggestions (especially now), but ShoreBank offers an on-line account that is FDIC insured.

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 Additional Information:

Suggested Review:  :032

I received the following message a few days ago:

Hi  John,

Thanks for all your tips for going green in the home! It’s amazing how our little day-to-day choices like installing energy-saving fixtures in our homes (or which bank we choose) can have such a huge impact on the environment. I work with ShoreBank, an environmentally and socially responsible bank that is dedicated to protecting the environment and improving our communities. Right now, ShoreBank is offering 3.5% APY on their on-line high-yield savings account.

Saving with ShoreBank offers amazing value because ShoreBank offers a competitive rate, and you get the satisfaction of knowing that your money is being invested in environmentally sound, profitable and socially responsible projects. And because ShoreBank has been in business for over 35 years, has more than $2.2 billion in assets, and is backed by the full faith and credit of the FDIC, you can also rest easy knowing your money is secure.

You can find more information about ShoreBank and the current rate at http://shorebankvoices.swirlspace.net/blog/.

When you invest in ShoreBank, you help fund companies like Indie Energy, an energy company in Chicago using geothermal energy to provide green energy to customers and increase green employment opportunities. (see video above)

If you have any questions about opening a high yield savings account, please don’t hesitate to contact ShoreBank at shorebankdirect@sbk.com or call 888-864-(HYSA) (888-864-4972)

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