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Team

 

We're a Fast Company and American Banker featured company comprised of designers, technologists, data scientists, and storytellers who wake up every day excited to build technology that helps everyone experience greater transparency of impact in banking.

We decided that there was a better way to make clear the impact banks make in communities, the range of different bank choices available, and what this has to do with bank customers.  We're next-gen leaders building next-gen banking experiences. We’re customers of banks, too, so we’re building a Mighty platform that we’d like to use and hope you like, too.

 
 
MEGAN HRYNDZA.  Founder & CEO. Former Starcom, City First Bank, Kraft, Women's World Banking. BS University of Illinois at Urbana-Champaign. MIT. "People care deeply about their stuff, including their money in the bank."  Linked In .

MEGAN HRYNDZA. Founder & CEO. Former Starcom, City First Bank, Kraft, Women's World Banking. BS University of Illinois at Urbana-Champaign. MIT. "People care deeply about their stuff, including their money in the bank." Linked In.

KELLY ROBERTS-ROBBINS.  Impact Data Lead. Special Projects Lead, Enclude. MA University of Potsdam. "Mighty opens people up to a whole new world of finance."  Linked In .

KELLY ROBERTS-ROBBINS. Impact Data Lead. Special Projects Lead, Enclude. MA University of Potsdam. "Mighty opens people up to a whole new world of finance." Linked In.

SOPHIA WAGNER.  Product Lead. Former CFPB, Craft3. BA University of Chicago. "Banking impacts communities in more ways than people realize. Mighty makes this clear."  Linked In .

SOPHIA WAGNER. Product Lead. Former CFPB, Craft3. BA University of Chicago. "Banking impacts communities in more ways than people realize. Mighty makes this clear." Linked In.

 

Supporting Organizations

 
 
 

Advisors

 

 
 
MARY HOUGHTON.  Founding Advisor. Founder ShoreBank. Honorary Director GABV. Director VanCity Community Investment Bank. Director Equator Capital Partners. MA Johns Hopkins University.  Linked In .

MARY HOUGHTON. Founding Advisor. Founder ShoreBank. Honorary Director GABV. Director VanCity Community Investment Bank. Director Equator Capital Partners. MA Johns Hopkins University. Linked In.

NISHA SUTARIA.  Founder & Advisor. Research Analyst at the Federal Reserve Bank of Atlanta. Former GSJ Advisors, Azadi. MSc Analytics, University of Chicago.  Linked In .

NISHA SUTARIA. Founder & Advisor. Research Analyst at the Federal Reserve Bank of Atlanta. Former GSJ Advisors, Azadi. MSc Analytics, University of Chicago. Linked In.

ELIZABETH DWYER.  Financial Inclusion Director. News Deeply / MasterCard Center for Inclusive Growth. Center for Economic Progress Associate Board.  Linked In .

ELIZABETH DWYER. Financial Inclusion Director. News Deeply / MasterCard Center for Inclusive Growth. Center for Economic Progress Associate Board. Linked In.

RON GRZYWINSKI.  Founding Advisor. ShoreBank Founder. Director, CFED, Enterprise. Visiting Professor Loyola Chicago.  Bio .

RON GRZYWINSKI. Founding Advisor. ShoreBank Founder. Director, CFED, Enterprise. Visiting Professor Loyola Chicago. Bio.

MUSTAFA SHABIB.  CTO at Quartet Health. Former Amazon, We Are Mammoth. BS Northwestern.  Linked In .

MUSTAFA SHABIB. CTO at Quartet Health. Former Amazon, We Are Mammoth. BS Northwestern. Linked In.

SRIPRIYA PRASAD.  UI/UX Design, ColorJar. BA Loyola University.  Linked In .

SRIPRIYA PRASAD. UI/UX Design, ColorJar. BA Loyola University. Linked In.

GEORGE SURGEON.  Founding Advisor. CEO GSJ Advisors. Former ShoreBank CEO. Director IFF, Calvert Social Investments Foundation. MA University of Chicago.  Linked In .

GEORGE SURGEON. Founding Advisor. CEO GSJ Advisors. Former ShoreBank CEO. Director IFF, Calvert Social Investments Foundation. MA University of Chicago. Linked In.

NICOLETTE STOSUR-BASSETT.  Design Research + UX Lead. Former Elevate Energy, Zero Percent, Delta Institute Associate Board. MA, Goddard College.  Linked In .

NICOLETTE STOSUR-BASSETT. Design Research + UX Lead. Former Elevate Energy, Zero Percent, Delta Institute Associate Board. MA, Goddard College. Linked In.

 

Intern Alumni

 

 
NOA OHCANA  Data science and storytelling. University of Chicago student. Former Basecamp, Know Your Company. "The most useful data is that which tells a story."  LinkedIn .

NOA OHCANA Data science and storytelling. University of Chicago student. Former Basecamp, Know Your Company. "The most useful data is that which tells a story." LinkedIn.

AMY MA.  Development and Operations Intern. University of Chicago student. Former American Red Cross . LinkedIn .

AMY MA. Development and Operations Intern. University of Chicago student. Former American Red Cross. LinkedIn.

CALVIN CHU.  Web developer. University of Chicago student. Also: Republic, FIsh Sauce Podcast. "There's a lot of people who want to contribute to the future of financing local ecosystems."  LinkedIn .

CALVIN CHU. Web developer. University of Chicago student. Also: Republic, FIsh Sauce Podcast. "There's a lot of people who want to contribute to the future of financing local ecosystems." LinkedIn.

LAUREN HAN.  Content and Marketing Intern. University of Chicago student. Co-Editor-In-Chief Moda Magazine. Designer Chicago Maroon.  LinkedIn.

LAUREN HAN. Content and Marketing Intern. University of Chicago student. Co-Editor-In-Chief Moda Magazine. Designer Chicago Maroon. LinkedIn.

JULIA FISCHER.  Content and user experience. University of Chicago student. “Banking can feel awesome.”  LinkedIn .

JULIA FISCHER. Content and user experience. University of Chicago student. “Banking can feel awesome.” LinkedIn.

JENNY LIM.  Product development and user outreach intern. University of Chicago student. Former Boston Consulting Group, McKinsey, and SparkLabs Global Accelerator.  LinkedIn .

JENNY LIM. Product development and user outreach intern. University of Chicago student. Former Boston Consulting Group, McKinsey, and SparkLabs Global Accelerator. LinkedIn.

 

Home > FAQ

The Basics

+ Is Mighty a bank?

Mighty is not a bank. Mighty helps you find the best banks for your money and values.

+ What do I use Mighty for?

Use Mighty to find banks, open deposit accounts (checking, savings, CDs), and know more about the banks you use. Continue using Mighty to keep connected to the good your money’s up to.

+ What banks are listed on Mighty?

All FDIC-insured banks with a branch in the US are listed on Mighty.

+ Are credit unions listed on Mighty?

Currently, only banks are listed on Mighty.

+ I can't find my bank on here, help?!

To find your bank, you can search for it by name (where available, coming soon to all users) or by the city in which you know it has a bank branch. If you still don't see your bank, be mindful that your bank might report data to regulators under the name of the bank's holding company. Try searching for this bank name on Mighty. (The bank’s holding company name is often listed on your bank's website.)

+ Are online-only banks listed on Mighty?

If you bank with an “online only” bank, your money is likely kept with a physical bank that partners with your online service provider to do the deposit part of the business. For some online banks, here’s how to learn more about the impact of their partner banks:

  • Ally Deposits insured by Ally Bank, a member of the FDIC. To see the impact of Ally Bank, go to Browse All Banks > Search by Place> Salt Lake City area

  • Aspiration Aspiration Debit Card is issued by Coastal Community Bank. To see the impact of Coastal Community Bank, go to Browse All Banks > Browse by Place> Seattle area

  • Axos Bank products and services are offered by Axos Bank, insured by BOFI Federal Bank. To see the impact of BOFI Federal Bank, go to Browse All Banks > Browse by Place>San Diego area

  • Azlo Banking services are provided by BBVA Compass, a brand of Compass Bank. To see the impact of Compass Bank, go to Browse All Banks > Browse by Place> Austin area

  • Chime Banking Services provided by The Bancorp Bank. To see the impact of The Bancorp Bank, go to Browse All Banks > Browse by Place> Philadelphia area

  • Discover Deposits insured by Discover Bank, a member of the FDIC. To see the impact of Discover Bank, go to Browse All Banks > Browse by Place> Philadelphia area

  • GoBank GoBank is a brand of Green Dot Bank. To see the impact of Green Dot Bank, go to Browse All Banks > Browse by Place> Provo-Orem area

  • Marcus Marcus by Goldman Sachs® is a brand of Goldman Sachs Bank USA. To see the impact of Goldman Sachs Bank USA, go to Browse All Banks > Browse by Place> Salt Lake City area

  • MemoryBank MemoryBank is a division of Republic Bank & Trust Company. To see the impact of Republic Bank & Trust Company, go to Browse All Banks > Browse by Place> Nashville area

  • MoneyLion Your banking funds are held by Lincoln Savings Bank. To see the impact of Lincoln Savings Bank, go to Browse All Banks > Browse by Place> Des Moines area

  • Redneck Bank Redneck Bank is the Internet Banking Division of All America Bank. To see the impact of All America Bank, go to Browse All Banks > Browse by Place> Oklahoma City area

  • Simple Banking services provided by BBVA Compass, a brand of Compass Bank. To see the impact of Compass Bank, go to Browse All Banks > Browse by Place> Austin area

    If you don’t see your online bank here, please write us to hello@mightydeposits.com and we’ll try to help.

    Information on partnerships sourced from bank websites and updated December 2018.

+ Do I open my bank account with Mighty or with banks listed on Mighty?

Your bank account is always with your bank, not with Mighty. Mighty just helps you find banks you might like to bank with.

+ Is Mighty safe?

Yes. Mighty uses industry standard SSL encryption. Mighty is a site independent from banks and there is no need to integrate Mighty with your bank account. Mighty does not capture nor collect sensitive bank account information to facilitate helping you see bank impact data and compare banks by their impact data. We do not sell your data. If you decide to open an account with a bank you find on Mighty, you will open your account via the bank’s secure account opening process. If you opt to provide your email, Mighty will give you email updates. See our terms of use for full details.

+ Is Mighty free?

Yes. Mighty is free to use.

+ How does Mighty make money?

Mighty is free for people and organizations to search for banks. Mighty makes money when banks partner with Mighty to power in-depth impact reporting for their customers and when people use Mighty to get in touch with banks. Whether a bank is featured on Mighty or not, we calculate community-investing metrics exactly the same for all banks using public data. This way, we commit to giving you objective data to compare all banks.

Mighty shows you a standard profile for FDIC-insured banks that report data to the US government. Standard profiles include:

  • Bank name and headquarters location
  • Causes the bank is certified for
  • Where the bank puts its deposits to work
  • How much of every $100 in the bank is used to finance the real economy, or the community economy
  • Bank website information

Featured banks partner with Mighty to power in-depth impact profiles (featured profiles), which include:

  • A bank profile page with additional information and stories about the bank’s impact, features, and how to easily connect with the bank to learn more.

Mighty prioritizes objectivity in helping you compare how banks use your money differently. Mighty analyzes public data that all banks in the US are required by law to report to the US government. Mighty presents this data to you in a standard community-impact profile. We calculate community-investing metrics exactly the same for all banks, whether they partner with Mighty or not.

Bank Safety

+ Are banks listed on Mighty safe?

Mighty shows you banks that are FDIC-insured. Your money in FDIC-insured banks is protected against loss (up to at least $250,000) by the US government. Read more about standard FDIC-deposit insurance here.

Bank Competitiveness

+ Are banks listed on Mighty convenient?

Mighty helps you search banks by the features they offer, like online account opening, mobile deposits, and multimillion-dollar deposit insurance. Click here to see features you can currently search on Mighty (beta) and click here to be notified via email when Mighty releases improved and updated versions of search.

+ Why does Mighty only show me some of the features banks offer, but not all?

Banks offer lots of different features, but we've started with a focus on the most common features available across banks that most people are interested in, like deposit insurance, online banking, mobile deposits, and opening an account online. Currently, features are only listed for featured banks and select others. Click here to vote for banks you'd like to see featured on Mighty.

+ But really, does Mighty show me banks that don’t suck?

There are more than 5,000 banks on Mighty, so we hope you can find at least one you like. You may have never heard of the majority of these banks, but they are more likely to offer higher interest rates, lower fees, and more flexibility than the largest banks in the country. And they put more of your money to work in communities, which definitely doesn’t suck.

+ There are so many banks on Mighty. How do I choose?

Take a look at how others do it. For additional help, see our tips for browsing banks.

Bank Transparency

+ Where does Mighty get its data?

Mighty analyzes over 1.6 million pages of deposit, loan and investment data that banks in the US collectively report to the government each year. This data is published by the U.S. Department of the Treasury (including the Community Development Financial Institutions (CDFI) Fund), and the Financial Institutions Examination Council (FFIEC): a formal interagency body that sets standards for the federal examination of banks by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB).

Mighty also analyzes data submitted by banks voluntarily to impact standards-setting organizations including the nonprofits B Lab and the Global Alliance for Banking on Values.

+ How often is bank data updated on Mighty?

Banks report deposit, loan and investment data to the US government quarterly, and Mighty updates bank data on its website accordingly. For other data that is reported once or twice a year or at other intervals, Mighty uses the most recently available data. We list the last time data on our site was updated in the footer of our website.

+ What is the real economy?

The real economy is an economics term used to describe the Main Street economy, rather than the Wall Street economy. As defined by the Financial Times, the real economy is the part of the economy that is concerned with producing goods and services (as opposed to the part of the economy that is concerned with buying and selling financial instruments). At Mighty, we measure a bank's real economy focus by counting the dollar amount of total small and large business loans, housing loans, small and large farm loans, construction loans, consumer loans, and loans and investments in public works made by a bank as a percentage of the bank’s total money.

+ How does Mighty calculate a bank's real economy or community financing?

Mighty shows you how much of every $100 in each bank is used to finance communities (technically known as the real economy, versus financial markets). This equals financing for business loans, housing loans, construction loans, municipal loans and securities, farm loans, and consumer loans, as is reported in the FFIEC Call Report and Uniform Bank Performance Report(UBPR).

+ How does Mighty determine a bank is focused on financing important causes like sustainability, poverty alleviation, racial and gender equity, or small business?

Banks are certified by government agencies and independent nonprofit organizations for financing different causes.

  • Banks certified for financing sustainability: The nonprofits B Lab and the Global Alliance for Banking on Values outline principles and certify banks for their performance in financing sustainable business practices. Banks opt-in to be evaluated for this certification. More information on the triple bottom line approach to consider people, profit, and planet can be found here

  • Banks certified for financing low and moderate-income communities: The U.S. Department of the Treasury certifies banks that target at least 60 percent of their financing activities to low- and moderate income populations or underserved communities. Banks receiving this certification are certified Community Development Financial Institutions (CDFIs).

  • Banks certified for building racial equity: The Federal Deposit Insurance Corporation (FDIC) certifies banks that are either (1) majority owned by individuals of a minority group (Asian American, Black American, Hispanic American, Native American), or (2) governed by a majority of individuals (at the Board level) of a minority group and primarily serve a minority group.

  • Banks certified for building women’s equity: The Office of the Comptroller of the Currency (OCC) certifies banks owned by women.

  • Banks focused on financing the real economy: Mighty calculates a bank’s focus on the real economy by dividing a bank’s total community investments (business loans, housing loans, construction loans, municipal loans and securities, farm loans, and consumer loans) by its total assets, as published by the Financial Institutions Examination Council (FFIEC). Banks that finance more community investments than the bank industry average receive the “real economy focused” blue badge on their profile.

  • Banks focused on financing small business: The Financial Institutions Examination Council (FFIEC) publishes the amount that banks lend or invest into small business. Mighty calculates a bank’s focus on small business by dividing the total amount of small business loans made by a bank by its total assets. Banks that finance more small business loans than the bank industry average receive the “small business focused” blue badge on their profile.

  • Banks focused on financing small farms: The Financial Institutions Examination Council (FFIEC) publishes the amount that banks lend or invest into small farms. Mighty calculates a bank’s focus on small farms by dividing the total amount of small farm loans made by a bank by its total assets. Banks that finance more small farm loans than the bank industry average receive the “small farm focused” badge on their profile.

  • Banks focused on financing public works: The Financial Institutions Examination Council (FFIEC) publishes the amount that banks lend or invest into public works. Mighty calculates a bank’s focus on public works by dividing the total amount of public works loans and securities financed by a bank by its total assets. Banks that finance more public works funding than the bank industry average receive the “public works focused” badge on their profile.

  • Banks focused on financing housing: The Financial Institutions Examination Council (FFIEC) publishes the amount that banks lend or invest into housing. Mighty calculates a bank’s focus on housing by dividing the total amount of housing loans financed by a bank by its total assets. Banks that finance more housing than the bank industry average receive the “housing focused” badge on their profile.

+ How does Mighty determine the geographies where a bank does its financing?

The Federal Deposit Insurance Corporation (FDIC) reports the amount of deposits in each bank, across all of a bank's branches. Mighty approximates where banks put their deposits to work by calculating the share of the bank's deposits held in each of its branches within a local area as a percentage of the bank's total domestic deposits, as reported on Summary of Deposits Survey. Though the geographic locations of all loans are not made public, banks are encouraged by the Community Reinvestment Act to lend in the communities they draw deposits from, so Mighty uses deposit share to approximate where deposits are at work.

+ Can I see the specific projects my bank is investing in?

All banks are required to publicize the TYPES of projects or companies they are investing in (small businesses, small farms, etc), but NOT THE EXACT NAMES of projects or companies. In order to guarantee the accuracy of our data, we only publicize information that all banks uniformly report to the government. We are always looking to add new, verified datasets to add to our website, and you can submit ideas by emailing hello (at) mightydeposits.com.

+ How does Mighty calculate the bank industry average?

The bank industry average includes all FDIC-insured banks with a branch in the US. Average weighted by bank size.

+ What data on Mighty is an approximation?

Most metrics on Mighty are taken directly from public reports. The following metrics on Mighty are approximations:

  • Place focus. See explanation above.
  • Small and large business loans, and small and large farm loans. Banks report business and farm lending data every quarter, but details about which of these loans are small versus large every other quarter. In the quarters that banks don’t report this detail, Mighty approximates that the share of small versus large loans was the same as that reported by the bank in the previous quarter.

+ I have another question. Can I email you?

Please do, here . We cannot respond to every email as we’re a small but mighty team, but we read all emails and use your feedback to improve our product and the Mighty experience, and we do our best to respond to as many emails as possible.

 
 
 
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Thanks for your interest to contact us.

We’re a small yet mighty team so thanks for your patience in our getting back to you.

Check out our FAQ to hear our take on some common questions.

Email us

 

Call us

(773) 417-6467

Mailing address

Mighty

c/o the Polsky Center for Entrepreneurship & Innovation at the University of Chicago

1452 E 53rd Street

Chicago, IL 60615

 

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