Going green has become an enterprise-wide philosophy at People's Bank in Holyoke, MA. From the loans it makes, to its IT strategic plan, to employee engagement, the bank translates its mutual-owned business model into a deep sense of accountability.
The commitment to environmental sustainability is in the water in Holyoke, literally. Some 70 percent of the city's power from renewable sources - in this case hydropower from the Connecticut River. In the past several years, the bank has made loans for more than $22 million on projects that built wind farms and solar energy farms, as well as several hydroelectric projects. "We are looked at as the bank that can get these projects done," says Doug Bowen, president and CEO. "It's an odd niche, but a profitable one for the bank."