what does neighborhood focus mean?
loans and investments in small business, public works, local construction, housing, farms, and consumers. this is neighborhood investing, directly benefiting neighborhood value, or as the financial times defines it, the real economy.
banks also invest in the financial economy, which indirectly touches neighborhoods (through stocks, derivatives and other financial instruments).
how does mighty determine neighborhood focus?
we use publicly reported data that every bank in the country must report to regulators.
by using this data, mighty helps you see data that can be compared across banks.
how do i choose?
questions? talk to us.
How does Mighty work?
Mighty helps you do three things: see how different banks use money to build different communities and industries; find a bank that uses money to grow what you care about; start making Mighty Deposits to grow money that’s good for you and the world.
Is Mighty a bank?
Mighty isn’t a bank. Mighty is an independent, values-oriented company that uses public data and community-generated stories to increase transparency on how banks use your money.
What banks are listed on Mighty?
Mighty lists FDIC-insured banks that are financially strong leaders in sustainable community investment, from building local economies and preserving the environment to reducing inequality. Mighty evaluates its bank partners according to public data that is currently available across a wide number of banks. See What Banks You’ll Find Here to learn more about Mighty’s criteria for banks to be listed on Mighty.
Are all banks listed on Mighty safe?
Yes. All the banks you’ll find on Mighty are FDIC-insured, meaning that all money held in deposits accounts at these banks – including checking, savings, CD and money market accounts – is safe, backed by the full faith and credit of the United States Government. Every single FDIC-insured bank in the country offers the same level of protection for your money, guaranteed.
Does Mighty cost me anything?
Mighty is completely free.
How do I start growing my Mighty Deposits?
Getting your Mighty Deposits going takes four steps: Discover banks you love on Mighty, Choose your bank, Start your Mighty Deposit Account, and Grow your Mighty Deposits.
Discover banks on Mighty that are growing communities and issues that matter to you. Add your favorite banks to your saved search, so you can return to them later. Choose your bank. Start your Mighty Deposit Account online or by phone. Open your Mighty Deposit Account online by visiting the online banking website of your selected Mighty partner bank. Fund your first deposit by making an online transfer from your current online bank account. The process takes about ten minutes. Open your Mighty Deposit Account by phone by calling the phone number of your selected Mighty partner bank, and let them know you’d like to set up a Mighty Deposit Account so that you’ll be sure to receive your Mighty updates. Many Mighty users comment that talking to our Mighty bank partners via phone is pleasantly distinct. We’re encouraged to hear so and hope you’ll agree. Grow your Mighty Deposits. A few different ideas that are popular among current Mighty users: Use your Mighty Deposit Account as your primary savings account. In addition to accumulating interest, enjoy seeing Mighty updates on how the savings you’re growing are great for you while also being great for the communities and industries you care about. Send a portion of your direct deposit to your Mighty Deposit Account. Did you know that you can divide your direct deposit to fund multiple accounts for no incremental charge? Many of our users have a long-term savings goal in mind, and find that having a Mighty Deposit Account apart from their other online accounts helps them to save more. Our Mighty users acknowledge that building savings is a bit like getting to the moon: you need to take it step by step, doing a little bit at a time. Financial experts agree that building savings equal to six to twelve months of your living expenses should be a baseline goal for building toward good financial health. With Mighty uniquely showing you how your Mighty Deposits along with the Mighty Deposits of others are helping to shape the world, growing your Mighty Deposits with Mighty a little bit at a time feels powerful. Because it is. Share your experience of growing your Mighty Deposits to help shape the Mighty community. Submit your story to the Mighty community here, or get in touch with us directly at email@example.com. We love to hear from you about what you love about Mighty, and how we can make it better.
How is a Mighty Deposit Account different than a traditional savings account?
A Mighty Deposit Account is safe, can be managed online, lets you withdraw money from ATMs, and offers a competitive interest rate, just like a traditional savings account.
Incrementally, a Mighty Deposit Account reimburses any ATM withdrawl fees incurred on your Mighty Deposit Account, up to four times per month. A Mighty Deposit Account lets you see how your money is being used by top community investing banks in the country, be included on updates and VIP invites from the communities where your deposits are working, and experience the benefits of being part of the Mighty Deposit community that is transforming how the next generation banks.
Where is Mighty available?
Mighty features banks located throughout the U.S., and is available to all residents within the U.S. All of our bank partners offer online banking and ATM access, so you can always access your money when you need it. For banks that only accept Mighty Deposits from residents in specific states due to legal restrictions, we’ll be sure to let you know.
What is the minimum amount required to open a Mighty Deposit Account?
The current minimum amount required to open a Mighty Deposit Account is $500.
Can I open Mighty Deposit Accounts with multiple banks?
You can open an account with as many banks as you would like. For multiple deposit accounts each to be serviced as a Mighty Deposit Account, however, Mighty allows you to open a next Mighty Deposit Account only if your active Mighty Deposit Accounts each hold a balance of at least $10,000. Here’s why: Our Mighty partner banks can achieve more sustainable and impactful community investing when customer deposit accounts are growing. This translates to greater sustainability and community impact for your money back to you, too.
How do I access my money?
You can access your Mighty Deposits 24/7 via online banking or ATMs nationwide, just like you would expect from a bank. You can also talk to a personal banker via phone, which you may discover is pleasantly distinct with our Mighty bank partners. Check your bank’s Mighty profile page for phone contact details.
Do banks listed on Mighty offer the latest features in online and mobile banking?
Our bank partners offer a range of competitive online and mobile banking features, and plan to continue to evolve their offering of safe and convenient technologies over time. Our bank partners can improve their provision of online and mobile features as demand for their banking services grows, so your support of Mighty partner banks helps our partners accelerate their technology innovation. All of our bank partners’ current online and mobile offerings offer bank-level security, always. Seeing some online and/or mobile banking feature you’re missing? Let us know at firstname.lastname@example.org.
Does Mighty work with credit unions?
Mighty is focused on increasing transparency of banks’ community investing activities. For this reason, Mighty currently only works with banks.
When will more banks be included on Mighty?
Mighty is limiting the number of banks on our platform at the moment to focus on providing winning service to our users on behalf of our partner banks. We intend to grow the number of banks included on Mighty over time.
I have a recommendation of a bank that I’d love to see on the Mighty platform. Can I vote to get this bank on Mighty?
Yes. We love to hear about what you care about. Drop us a note at email@example.com.
Have comments or questions you don’t see here?
Write us at firstname.lastname@example.org.