About us

Purpose is a fintech company working to inspire kindness in the financial system

At Purpose, we believe banking can be a vehicle for innovation and social change. We offer socially responsible banking with a focus on promoting a kinder future for all beings. Together with our customers, we are choosing to redirect our money towards a future we believe in, encourage other financial institutions to move towards kinder banking, and discover and share mission-aligned products with other changemakers.

Divest from cruelty

Divest from cruelty

We work with our partners to divest from cruel and exploitive industries and promote a kinder and more sustainable future for all beings

Understand your impact

Understand your impact

We collect and share data on sustainability and animal welfare practices to help consumers better align their money with their values

Vegan Advocacy

Support advocacy

As a double bottom-line business, we dedicate a percentage of each transaction to support environmental & animal advocacy organizations

Plant-based perks

Plant-based perks

As part of our mission to celebrate a kinder and more sustainable lifestyle, we offer a vegan and planet-friendly rewards program

Why ethical banking

Banks play a big role in our economic system by facilitating investments and loans. When you put money in the bank, it doesn’t just sit there. Banks use your deposits to make loans to industries, companies and projects that may not align with your values. And if you’re like most people in the US, your money is likely in a bank that is funding fossil fuels, factory farming, and other destructive industries or projects.
Choosing a bank that aligns with your values is one of the most impactful moves you can make. Banks that act with transparency and consideration for their impact have the power to influence exponential positive change. At Purpose, we believe that banking that is “Sustainable,” “Socially Responsible," or “Green,” should also be cruelty-free. Factory farms and slaughterhouses have devastating impacts on the planet, animals, and the public. Despite this, most financial institutions turn a blind eye to these impacts and continue financing new land, feed lots and processing facilities. That’s why we built a banking product dedicated to financing a kinder future for all beings.

Divest Purpose

$478 Billion

to large factory farms

Between 2015 and 2020, the world’s largest meat and dairy producers received over $478 billion in backing by over 2,500 financial institutions. Top funders included Bank of America, Citi Bank, Chase Bank, Wells Fargo and others. Even green banks and credit unions provide financial backing to intensive animal agriculture behind the scenes.

source: feedbackglobal.org

Divest Purpose

$3.8 Trillion

to the fossil fuel industry

Between 2016 and 2020, the world’s 60 largest banks invested a combined $3.8 trillion into the fossil fuel industry. Last year showed a significant increase in funding despite many of the banks continuing to voice their support for the Paris Agreement and signing up to net zero pledges.

source: ran.org

Divest Purpose

$238 Billion

to deforestation

Between January 2016 and June 2021, banks and other financial institutions provided $238 billion in credit to the largest 300 firms involved in the production and trade of key commodities that threaten forests. The investments lacked adequate policies to safeguard against deforestation, nature destruction or human rights violations

source: forestsandfinance.org

Right arrow
Right arrow

Our commitment

Purpose is a certified Public Benefit Corporation striving to offer a diversity of financial services in a responsible and transparent way. Our goal is to help individuals improve the quality of their lives and at the same time have a positive impact on the world around them. Instead we work to make sure that as much of your money as possible goes towards driving positive change. That includes providing access to capital to those who traditionally lack it – underserved communities, women and minorities.

As a double bottom-line company, we are committed to distributing 10% of net income to mission-aligned advocacy organizations. In 2021 we directed our giving to standout organizations focused on ending the abuse of animals raised for food. As we grow, we plan to continuously look for ways to expand our impact and to share our process with our users.

$0

financing:

Factory farming

Animal testing

Predatory lending

Fossil fuels

Palm oil

Private prisons

Deforestation

Tobacco

Weapons

Over  

50%

of deposits financing³:

Underserved communities

Underserved communities

Loans to communities in low and moderate income areas

Women and minorities

Women and minorities

Loans to female and minority owned businesses

Sustainable projects

Sustainable projects

Financing energy efficient buildings and other infrastructure

CDFI logo

CDFIs (coming soon)

Working with federal programs that promote access to capital and local economic growth