Talking to your customers about Mighty

Thank you for partnering with Mighty to tell your bank’s impact story and strengthen your bank’s community relationships. 

New and existing customers may be reaching out to your bank via email,  phone, social media, or by visiting a branch after learning more about your bank from Mighty. 

These people may be especially interested in your bank’s community impact when deciding to start and/or grow their banking relationship with you.  

Below are some questions people may have regarding your impact data seen on Mighty, and suggestions from Mighty on how to respond.

We recommend your team incorporates more specific detail about your bank into the responses below.

If we can be of additional assistance, please let us know.

-The team at Mighty

What’s Mighty?

Mighty is an informational website (mightydeposits.com) that analyzes government data to help you learn about how banks invest in communities. 

Why is the bank partnering with Mighty?

We’ve partnered with Mighty to offer our customers a new and innovative way to see what their money in the bank is doing and how this benefits communities.

Who’s behind Mighty?

Mighty is a women-led social venture based at the business incubator at the University of Chicago. 

Is Mighty a bank?

No, Mighty is not a bank. Mighty is an informational resource that makes it quick and easy for people to look up the community-investing profiles for every bank in the U.S.

What does Mighty do for me?

Mighty shows you how your money in the bank is invested in communities over time, and how this compares to other banks. Mighty also shows you where your deposits in the bank are based, and how our bank stands out in the industry for financing important community causes.

I see your bank is a Mighty partner. What does this mean? 

As a featured Mighty partner, we publish more information and community stories about our bank on Mighty than banks that don’t partner with Mighty. We also make it easier for people to get in touch with us directly via Mighty.

Do I open an account with you or Mighty? Do I manage my bank account with you or Mighty? 

You open and manage your account with the bank. Your relationship is always with the bank. 

Does Mighty have access to my bank information?

No, Mighty does not have access to your bank information. Mighty only has access to public bank data that is published on government websites, impact data and stories that the bank publishes on Mighty, and banking testimonials that people volunteer to share on Mighty.

Can you tell me more about your community impact? 

You can check out our profile page on Mighty. On our page, you can see:

• how much money we put directly into community investments, over time, and how this compares to the bank industry average

• where our deposits are based

• how we stand out from other banks in how we focus our financing.

Mighty also lists the source of this data, which is data we report to the government and is available on government websites. 

Can you tell me more about how you compare to BANK X?

You can look up a community-investing profile for any bank on Mighty and see how we compare. 

I see that BANK X does more/less community financing than you. Can you tell me why?

Different banks have different loan portfolios that reflect the needs and opportunities of the local market. 

There’s no single metric that captures a bank’s full story. Rather, a combination of metrics tells the story of what a bank is about.

Community-investing profiles on Mighty are grounded in public data: data that all banks are required to report, by law, and by a common reporting standard. This enables people who use Mighty to see contextually relevant data: data about any bank that can be soundly benchmarked against other banks.

Mighty incorporates additional data as it can. For the metrics listed on the Mighty site, Mighty indicates what data is reported for all banks, by law, and what data is reported by some banks, voluntarily.

To learn more about this data and how Mighty analyzes it, see its FAQ.

(We encourage you to talk about incremental data that your bank collects, beyond what is publicly reported. We encourage you to talk about the flexible and unique ways in which your banks meets the needs of your community, your unique geographical focus, and to mention any of the causes below if they are applicable to your bank.)

What impact will you create with my money?

Data on Mighty reflects what our bank has financed in the past, and how we’ve been consistent over time in our community focus. Data is updated quarterly on Mighty so you can continue to track the impact we’re creating with your money, and as a bank.

When was data last updated on Mighty?

You can see the date of the last data update in the footer of the mightydeposits.com website.

I saw a decal about Mighty in your window. What does that mean?

It means that we’re a featured bank on Mighty, and you can use Mighty to learn more about our community impact, our banking products and services, the communities we finance, and to easily get in touch with us.

I see community stories on Mighty. How do these end up getting shared there?

People volunteer to share their stories on Mighty. You can share your testimonial in working with us, here.

Why do people volunteer to share their stories on Mighty?

We hear from people that they do it to express their values, to demonstrate leadership, and to support the banking for impact movement. 

I’d like to share my story on Mighty. Can I? 

Absolutely! You can submit your story at the bottom of our bank’s profile page.