Putting Your Money Where Your Mouth Is

From Clamor Magazine's blog Everyday Revolution comes the news that Wainwright Bank is offering a one-of-a-kind Certificate of Deposit (CD) that benefits Equal Exchange, a venerable worker-owned fair trade company. The money that you invest in the CD is treated as a line of credit for Equal Exchange; at the end of a three-year period, you receive the money back with interest (currently 4.2%). In essence, Wainwright provides a way for you to lend money directly to Equal Exchange at low risk and decent rates. It's a great way to help both the company and your bank account to grow. (It's no surprise to see this innovation coming from Wainwright, whose slogan is "Banking on Values"; their Environmental Issues page has more information on their various eco-friendly banking products.) Unfortunately, the smallest CD currently available is $1000. While smaller ones may be more hassle than they're worth, we would love to see them made available to encourage everyday consumers, especially since Equal Exchange's website emphasizes how far they can stretch these contributions. It's also only available in the United States, though we're hoping other banks in other countries will create similar programs if this one works out well. Other than that, it sounds like a terrific idea. ::The Equal Echange CD via ::Everyday Revolution