Mission

New Resource Bank’s mission is to advance sustainability with everything it does—the loans it makes, the way it operates, and its commitment to putting deposits to work for good. To New Resource Bank, banking isn’t just a service—it’s a way to create a better world.

New Resource Bank manages the financial, environmental, and social impacts of its activities to promote the global well-being of future generations.

Short History

The founding organizers are technology entrepreneurs, green business pioneers and banking executives who believe that green has evolved from a social movement into a market opportunity and that sustainability will happen through the economy in the growth of new market options that are healthier, cleaner and more efficient.

The bank opened in September, 2006.  Prior to opening, 200-plus founding shareholders subscribed to USD 24.75 million of the bank’s stock offering. The bank added to its capital base again in September 2008, completing an equity capital raise of $14.75 million in the midst of a very tough banking market.  As of March 31, 2010, the bank had USD 179 million in assets.

Structure

New Resource Bank is a California state-chartered institution and its shares are tradable on the Over-the-Counter Bulletin Board.

Executive Management

  • Vince Siciliano (President & CEO)
  • Charmaine Detweiler (Chief Financial Officer)
  • Bill Peterson (Chief Credit Officer)

Market focus, products and services

New Resource Bank offers a full range of financial services to:

  • Individuals:  Such as checking, money market and savings accounts (including Visa debit card), online banking, bill pay and the financing of residential solar installations and energy efficiency upgrades.
  • Businesses:  Such as corporate cash management, commercial credit lines, real estate loans, construction loans as well as project finance. The bank also serves as advisor to its business clients of whom many are entrepreneurial clients focusing on clean technology, energy efficiency and green consumer products.
  • Non-profit organizations: Such as banking services and other strategic services.  The bank offers a Community Rewards Program from which mission-aligned non-profit organizations can generate income from New Resource Bank donations that are funded by its client’s exchange fee collected from debit-card activities. Thousands of dollars are generated each year in Community Rewards.

In addition to operating as a full-service community bank, New Resource provides innovative loans for green projects, including alternative energy, clean tech, organic food production, and sustainable home and office construction.  The bank also offers services and provides knowledge to its community clients that could encourage more sustainable operations.  For example, the bank has helped to facilitate an energy audit for a real estate lending client that will lead to the savings of both money, energy and pollution.

Client Case Study

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