cross-posted from: https://lemmy.ml/post/33213155
I don’t own much: My savings are around 50K$, money that now sits in the bank doing nothing.
I’ve been reading about what ETFs to invest into, but even those classified as climate friendly and social responsible include firms such as tesla, facebook, coca cola… not even close to being ethical.
Is there something akin to Michael Burry levels of ethical investment?
Money sitting in a bank is being used by the bank to invest in unethical businesses.
I’d suggest to not worry and put almost all of it in vanguard total market index fund (as long as you don’t need the money for 20 years). Use the profits to help people.
Or you could switch from using a bank to a credit union.
Who probably also do business you would personally not like. It’s a good suggestion, but it doesn’t solve the problem we’re talking about.
Credit unions don’t have shareholders. They face totally different pressures.
Their members are their shareholders, and largely demand the same shit. I’ve been part of one, it’s different but still kind of the same.
I do always go credit union or my local state-owned bank, though, because otherwise I’m paranoid they’re scamming me somehow.
I finally made the switch to a credit union. I had them for years for my car loans, but never really bothered using them for my primary checking account. After some recent terrible calls to Huntington bank, I decided to just move everything over to my credit union and close the bank account.
So far it’s much better. The rates are better. The customer service is better trained and understands what I’m trying to say (as well as english.) The website and app are far better. There’s also a recession coming and I felt it was better to use a credit union than a bank anyway.
I have been wanting to do this for a while and just never made a priority of it until after my last few calls I had to Huntington and that just signaled it was time to leave.