CHICAGO--(BUSINESS WIRE)--GreenChoice Holding Company, Inc. will officially open the doors to GreenChoice Bank on Feb. 1, completing the rebranding of Family Federal Savings of Illinois, the 100 year old community lender it acquired last July. Unique about GreenChoice Bank is its dedication to sustainable business operations, sourcing, lending and culture.
By rebranding branch locations in Cicero and Lockport, Ill., GreenChoice becomes the first holistically sustainable community bank in the Midwest. Its mission is to offer consumers and businesses a better, values-based choice for banking services, focused on the triple bottom line of people, planet and profits.
GreenChoice Holding Company has been operating under the Family Federal name since it acquired the savings and loan. Simultaneously, its management has spent months retrofitting and re-engineering outdated structures and processes to operate the business using sustainable principles.
This includes retrofitting the century-old buildings to environmentally sound standards for LEED Existing Buildings: Operations and Maintenance (EBO&M) certification. Green technologies are infused into every aspect of the retrofit project, from high-efficiency lighting and plumbing and locally-sourced building materials to recycled and reused products, including reclaimed walnut planks from a turkey coop.
As part of its mission, GreenChoice Bank, a certified B Corporation, leverages funds on deposit to invest in the local and green economy. Special checking and savings accounts with higher rates are designed for those actively embracing sustainability through their account activity. Advantaged terms are offered to commercial clients managing green businesses, building sustainably and creating green collar jobs.
“From online banking and paperless statements to advantaged loan and deposit products for those actively embracing sustainability, we designed the bank with environmentally-friendly principles that guide every aspect of our business,” says Steve Sherman, LEED AP, chief operating officer and director. “Our customers know that when they bank with us, their funds are being leveraged responsibly and invested back into the community.”
Internally, back-office operations are being developed to conserve energy and reduce the bank’s environmental footprint. This minimizes waste through paperless processes, electronic document distribution, image-based check processing, on-line banking and e-statements. The bank seeks to purchase more environmentally friendly products and is mindful of sourcing decisions, such as offering debit cards made of 100 percent recycled plastic. Employee policies also encourage sustainable choices, from using public transportation and volunteering in the community to rewarding those who purchase hybrid or other Low Emission Fuel Efficient vehicles.
The bank’s executive team is active in the sustainable business community and has more than 75 years of Chicago area banking expertise. In addition to Steve Sherman, the team is comprised of Harold L. Sherman, founder, chairman and chief executive officer; Jon A. Levey, LEED AP, founder, executive vice president and chief lending officer; and Kenneth C. Kline, chief financial officer.
GreenChoice Bank branch locations are located at 5225 W. 25th St. in Cicero and 838 S. State St. in Lockport. GreenChoice Bank also plans to open its LEED Platinum flagship location later at the new Green Exchange, 2545 W. Diversey Ave. in Chicago. For more information about GreenChoice Bank, including its green banking incentives for consumers and businesses, please visit www.greenchoicebank.com.