New Resource Bank
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{{Infobox company
| name = New Resource Bank
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| type = Subsidiary
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| industry = {{ubl|Banking|Financial services}}
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| homepage = {{url|https://newresourcebank.com/}}
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| location_city = San Francisco, California
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| parent = Amalgamated Bank
}}
New Resource Bank is a San Francisco, California-based bank which is a part of Amalgamated Bank.{{Cite web|url=https://dealbook.nytimes.com/2011/11/03/amid-wall-street-protests-smaller-banks-gain-favor/?_r=0|title=Amid Wall Street Protests, Smaller Banks Gain Favor|last=Roose|first=Kevin|date=2011-11-03|website=The New York Times|access-date=2016-07-11}}{{Cite news|url=https://globenewswire.com/news-release/2018/05/21/1509382/0/en/Amalgamated-Bank-Completes-Merger-with-New-Resource-Bank.html|title=Amalgamated Bank Completes Merger with New Resource Bank|date=May 21, 2018|work=GlobeNewswire News Room|access-date=2018-05-31|language=en-US}}{{Cite news|url=https://newresourcebank.com/press_release/amalgamated-bank-completes-merger-new-resource-bank/|title=Amalgamated Bank Completes Merger with New Resource Bank|date=May 21, 2018|work=New Resource Bank|access-date=2018-05-31}}{{Cite news|url=https://www.forbes.com/sites/jaycoengilbert/2018/04/20/too-good-to-fail-big-ideas-for-a-big-bank-with-values/#67fcb1ec1c33|title='Too Good To Fail': Big Ideas For A Big Bank With Values|last=Gilbert|first=Jay Coen|date=April 20, 2018|work=Forbes|access-date=2018-05-31|language=en}}{{Cite web|url=https://www.bizjournals.com/sanfrancisco/news/2017/12/15/san-francisco-bank-merger-new-resource-amalgamated.html|title=Second Bay Area community bank bought this week|last=Calvey|first=Mark|date=December 15, 2017|website=San Francisco Business Times|access-date=2018-05-31|url-access=subscription }}
The bank is insured by the Federal Deposit Insurance Corporation and offers commercial loan and deposit products, specializing in renewable and alternative energy, green building, organic food, and green products and services. It also offers personal banking accounts.
New Resource's lending decisions factor in a sustainability measurement. The bank's goal is a loan portfolio invested 100 percent in businesses that are advancing sustainability. All new loan recipients must be green businesses or committed to improving their operational sustainability and managing their impact on society and the environment.{{Cite web|url=https://www.newresourcebank.com/clients-we-serve/who-we-finance/|title=New Resource Bank {{!}} Who We Finance|website=New Resource Bank|access-date=2016-07-11}}{{Cite web|url=http://greenbankreport.com/checking-accounts/new-resource-bank-the-green-bank-you-are-looking-for/|title=New Resource Bank: The Green Bank You Are Looking For|last=Schultz|first=Clark|date=2011-05-05|website=GreenBankReport|archive-url=https://web.archive.org/web/20150208221242/http://greenbankreport.com/checking-accounts/new-resource-bank-the-green-bank-you-are-looking-for/|archive-date=2015-02-08|url-status=dead}}
New Resource is a founding member of the Global Alliance for Banking on Values,{{Cite web|url=http://www.gabv.org/our-news/global-alliance-for-banking-on-values-announces-commitment-at-the-clinton-global-initiative#.V4NA0KJywwc|title=Global Alliance – For Banking on Values ~ GABV Commits at the Clinton Global Initiative|date=2009-09-25|publisher=Global Alliance for Banking on Values|access-date=2016-07-11}} a Green America certified business,{{Cite web|url=http://www.greenpages.org/listing/27814/1/new-resource-bank/|title=Green Pages: New Resource Bank|website=GreenPages.org|publisher=Green America|access-date=2016-07-11}} and a San Francisco certified Green Business.{{Cite web|url=http://sfgreenbusiness.org/Financial-Services/427-New-Resource-Bank/View-details.html|title=New Resource Bank|website=San Francisco Green Business|publisher=City and County of San Francisco|access-date=2016-07-11|archive-url=https://web.archive.org/web/20160817070058/http://sfgreenbusiness.org/Financial-Services/427-New-Resource-Bank/View-details.html#|archive-date=2016-08-17|url-status=dead}}
Vince Siciliano, the current CEO of New Resource Bank, is also an advisory board member of the American Sustainable Business Council.{{Cite web|url=http://asbcouncil.org/about-us/advisory-board#.V4NJo6JyzK0|title=Advisory Board|website=American Sustainable Business Council|access-date=2016-07-11}}{{Cite news|url=https://www.thenation.com/article/time-new-economy/|title=Time for a New Economy|last=vanden Heuvel|first=Katrina|date=2011-02-16|newspaper=The Nation|issn=0027-8378|access-date=2016-07-11}}
History
New Resource Bank was founded in 2006.{{Cite web|url=http://www.worldchanging.com/archives/005338.html|title=Worldchanging {{!}} Evaluation + Tools + Best Practices: New Resource Bank|last=Rich|first=Sara|date=2006-11-15|website=Worldchanging|archive-url=https://web.archive.org/web/20150909223844/http://www.worldchanging.com/archives/005338.html|archive-date=2015-09-09|url-status=dead}} The bank opened with 240 founding shareholders, including Triodos Bank and RSF Social Finance. It now has about 360 shareholders; major shareholders include the Generation IM Climate Solutions Fund, Triodos and RSF.
In 2010 New Resource became a B Corporation.{{Cite web|url=http://www.bcorporation.net/community/new-resource-bank|title=New Resource Bank {{!}} B Corporation|website=www.bcorporation.net|publisher=B Lab|access-date=2016-07-11}} B Corporations meet comprehensive social and environmental performance standards. New Resource Bank, which has been traded publicly in the over-the-counter market since its early days, was the first publicly traded company to become a certified B corporation.{{Cite web|url=http://www.bcorporation.net/sites/default/files/documents/faqs/FAQ_Public_Companies_and_B_Corp_Certification.pdf/new-resource-bank|title=FAQs about Public Companies and B Corp Certification|website=www.bcorporation.net|publisher=B Lab|access-date=2016-07-11}}{{dead link|date=February 2018|bot=InternetArchiveBot|fix-attempted=yes}} After the merger with Amalgamated Bank in May 2018, which is not a public company, New Resource Bank was no longer publicly traded.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=4935718|title=Amalgamated Bank: Private Company Information - Bloomberg|website=Bloomberg|access-date=2018-06-01}}{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=538887139|title=New Resource Bank: Private Company Information - Bloomberg|website=Bloomberg|access-date=2018-06-01}}
During the Occupy Wall Street movement in 2011 a number of financial institutions including New Resource Bank sought to draw customers from more traditional financial institutions.{{Cite web|url=http://www.fastcompany.com/1792790/financial-institutions-banking-occupy-wall-streets-move-your-money-day|title=The Financial Institutions Banking On Occupy Wall Street's "Move Your Money Day"|last=Enetz|first=Anya Kam|date=2011-11-04|website=Fast Company|publisher=Fast Company, Inc|language=en-US|access-date=2016-07-11}}
In May 2018 New Resource completed a merger with Amalgamated Bank.
References
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External links
- [https://www.newresourcebank.com/ New Resource Bank]
Category:Banks based in California