Banking and Our Values
the Resolution: Evaluating your bank and, maybe, finding a new one
resolution asks congregations and all settings of the UCC to “faithfully
examine their banking relationships with financial institutions, and, where
practical and prudent, deliberately move toward relating to financial
institutions that have records of fair lending, business and investing
practices as each body discerns for its setting.”
implementation steps are as follows (also see the diagram):
Evaluate the financial institutions that the
church or other setting of the UCC is currently using. These resources may
be helpful in this evaluation.
Determine whether these financial institutions are ones that you
are proud to call your financial partner. Are the institutions and
relationships appropriate (“appropriateness”
is defined by the congregation’s needs and encompasses practices that serve
both bank customers and the community)?
If the answer to #2 is “Yes,” no further
action is required. If the answer to #2 is “No,” there are two options.
If there are compelling reasons to continue
using a particular financial institution despite concerns about its practices (for
example, if it is the only bank in town and the Sunday morning offering needs
to be easily deposited on Sunday morning), then the congregation or other
setting could approach and work with the financial institution to make changes so
it becomes a good partner.
likely that the biggest impact can be achieved if multiple congregations
partner together in this effort, bringing together their collective influence
on a banking institution. During the discussion of this resolution at General Synod,
a UCC pastor described a “hugely successful” ecumenical effort in Florida to
meet with local banks and move them to change unfair practices.
If there are no compelling reasons to stay
with the current financial institution, an evaluation should be made of other
options and a selection made from the competing financial institutions.These resources may help.
When making a change from one institution to
another, it is important to inform both institutions of the reasons for making
the switch. Please also share your experiences with others in the UCC.