ASBN Live: WALDEN MUTUAL BANK: Seeking the First New Mutual Bank Charter in a Generation
American Sustainable Business Network invites you to join us Wednesday, February 16th at 1pm ET to discuss Walden Mutual Bank, an interactive webinar with Charley Cummings, CEO and Vince Sicilliano, Board Chair.
Walden Mutual Bank is seeking the first new mutual bank charter granted in a generation, to support lending in the sustainable local food ecosystem in New England and New York, while offering consumer deposit accounts aligned with social and environmental impact. Cummings will describe how mutual banks, which are ultimately owned by depositors and governed by a board of independent Corporators, are ripe for reinvention in the modern era. The Bank intends to open in the second quarter of 2022, and is seeking investment in its Special Deposits, which serve as the bank’s regulatory capital.