Sandy Wiggins, the Chairman of e3bank, and President/CEO Frank Baldassarre this week announced the Department of Banking has given e3bank its conditional approval. Pending final PDoB and FDIC approval, e3bank plans to open early summer 2009 as the first green, triple bottom line bank on the east coast.

 

Everything from the organization's infrastructure to its product and service offerings is being designed to deliver triple bottom line results by building sustainable enterprises, restoring the environment, and increasing social equity.

 

In conjunction with this announcement, e3bank's board and executive team has launched a unique capital fundraising campaign with an online initiative inviting individuals and businesses to invest and become owners of the bank. This program is believed to be a national first for the U.S. banking industry.

 

In keeping with its mission to increase social equity through its operations, the bank has set the minimum investment at $5,000 - lower than a typical bank offering - so that small investors across the country who want to put their money where their values are can participate.

 

The goal is to spur involvement and interest in truly sustainable enterprises, and enable individuals and groups to participate who may not have thought of this type of investment before.

 

"e3bank is supporting mobilization around a green economy and a sustainable environment, as well as growing consumer and business demand around these issues," said Wiggins. "It only made sense to develop a way for these groups to join with us and support us in fulfilling our mission. The bank was created for everyone who cares about a sustainable world and we want those people to be its owners and stewards."

 

By purchasing stock in e3bank, shareholders will help to play a role in creating a financial institution involved in the societal shift to a sustainable world. "The emerging green economy needs to be fueled by financial products and services specifically designed to accelerate its growth, led by financial experts who understand the urgency," said Baldassarre. "The opportunity for this shift has never been more critical or accessible than it is right now. We welcome likeminded investors who are looking for a responsible alternative to the single bottom line choices they have been limited to previously."

 

The mission of e3bank is to create and deliver financial tools and services that build stakeholder prosperity and catalyze change toward a more sustainable world while delivering exemplary returns in each domain of the triple bottom line. e3bank will serve people and businesses who want to have a positive, greener and healthier impact on the world by empowering its customers to achieve their financial goals, save resources, reduce waste, and build social equity.

 

e3bank plans to have retail locations in the Philadelphia area, as well as a dynamic website offering innovative triple bottom line financial products and services for businesses and consumers.

 

Visit the e3bank website for more information.