ORLANDO, Fla., April 30, 2024 (GLOBE NEWSWIRE) – OneEthosthe only US fintech B Corp, regulated by the Federal Reserve Bank and specializing in climate finance, today announces that its sustainable finance platform has produced $100 million in consumer solar loans for Climate First Bank.
Through OneEthos, Climate First Bank has been able to make clean, green energy more affordable, reducing solar energy costs by 20 to 30 percent. By aligning with more than 1,500 energy advisors, OneEthos technology has generated a total of $200 million in consumer solar loan applications since launching in May 2022, with most of this growth occurring in the last 12 months. Over the past year, the platform has worked to develop key partnerships with community lenders across the U.S. to support the scalable distribution of funds received through grant programs, including the Greenhouse Gas Reduction Fund (GGRF) and various Justice programs. 40.
“This major milestone reaffirms that our technology is making a difference in the mission of a fair climate future for all,” said Marcio deOliveira, CEO of OneEthos. “The recent $27 billion in grants awarded to the NCIF, CCIA and Solar For All programs under the Greenhouse Gas Reduction Fund provides an opportunity for green banks, CDFIs, credit unions and other community lenders to partner with the OneEthos on deploying ethical climate finance for low-income countries. -income and disadvantaged communities across the country.”
OneEthos collaborated with several partner financial institutions and solar energy advisors to develop the most affordable 30-year consumer solar loan product on the market. This product offers the most cost-effective technology and processes to enable CDFIs and credit unions to grow their solar loan portfolios with minimal effort and at a reduced rate.
For more information about OneEthos, visit https://www.oneethos.com.
For more information about Climate First Bank, visit https://www.climatefirstbank.com.
About OneEthos
OneEthos is a certified B Corp and public benefit company operating at the intersection of fintech and traditional banking with the aim of accelerating the delivery of sustainable and inclusive financial services to all segments of the population. They are one of the only fintechs in America regulated by the Federal Reserve Bank. Its mission is to put the best digital solutions at the service of community financial institutions that are traditionally underserved by technology, helping them to strengthen their digital channels and increase loans and deposits in a profitable and responsible way.
About the first climate bank
Climate First Bank is a values-based, B Corp certified digital community bank offering a comprehensive, end-to-end portfolio of simple, easy-to-use traditional banking products. These products are powered by technology to meet the expectations of today’s consumers. In addition to offering standard banking services, the company places special emphasis on non-governmental organizations (NGOs) and companies committed to sustainability. Eco-conscious customers will find dedicated loan options for solar photovoltaics (PV), energy retrofits and infrastructure to help combat the climate crisis. The bank annually reports its impact in line with corporate social responsibility objectives, read the latest Impact Report here. Member FDIC.
Media Contacts
Sierra Moorman
Uroar PR for Climate First Bank
smoorman@uproarpr.com
