6 votes

Aspiration vs Amalgamated Bank (ethical banking)

Posted by uppereastbeast
Tags: banking.ethical, ask.advice, usa, banks, aspiration, amalgamated bank

Does anyone here have any experience with Aspiration or Amalgamated bank? I am interested in opening a new credit account and can't seem to decide which one to pick.

I've picked these two because of their environmental commitments, but I'm leaning towards Amalgamated since it's based in the East Coast.

Edit: Unfortunately, Beneficial is only in the West

1 comment

  1. spit-evil-olive-tips
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    I hadn't heard of either one before, but: Wall Street owned vs union-owned. I know which one I'd pick.

    I hadn't heard of either one before, but:

    In August 2021, Aspiration announced that it would be going public on the New York Stock Exchange by merging with the special-purpose acquisition company (SPAC) InterPrivate III Financial Partners in a $2.3 billion merger. The deal is expected to close in the fourth quarter of 2021. Ahead of the merger, Oaktree Capital Management and investment affiliates of billionaire Steve Ballmer committed $315 million in additional financing to Aspiration.

    It is the largest union-owned bank and one of the only unionized banks in the United States. Amalgamated Bank is currently majority-owned by Workers United, an SEIU Affiliate.

    Wall Street owned vs union-owned. I know which one I'd pick.

    5 votes