RSF is pleased to announce its support for the Bay Area’s newest “green” bank. The New Resource Bank is a community bank that started when a group of visionary individuals and organizations, including RSF, recognized a need for a bank to finance businesses developing environmentally friendly products.
RSF has been an active participant since efforts to organize the bank began in 2005. It is also one of the largest shareholders during the bank’s initial capitalization phase. RSF invested $1 million and it may look to purchase additional stock in the future.
RSF’s President and CEO, Mark A. Finser, who serves on the New Resource Bank’s board of directors and credit and mission committees, sees the work of both organizations as complementary. “For RSF, this is a natural extension of our mission. We connect investors and philanthropists with socially beneficial projects that promote a healthy and sustainable world through investing, lending, and philanthropic services,” says Mr. Finser. “New Resource Bank, as a chartered bank, and RSF, as a tax-exempt non-profit organization, can each deliver a range of services that the other could not offer. There will be many opportunities to partner with one another to expand the field of social finance.”
“RSF has been an instrumental organizer and investor in the bank. RSF helped extend our network and Mark Finser brings wonderful experience to our board as a true pioneer in social finance,” says Peter Liu, initial founder and vice chairman of New Resource Bank. “We look forward to collaborating with RSF to help entrepreneurs and innovators grow sustainable businesses and organizations.”