Since its founding, ShoreBank has been a progressive-minded bank focused on community development. However, it soon adopted the progressive commitment to environmentalism after founders Ron Grzywinski and Mary Houghton were approached in 1993 by Ecotrust, an environmentally-conscious firm focusing on debt for nature swaps in rainforest countries as well as environmental banking in the Pacific Northwest. The partnership of the two firms led to the establishment of ShoreTrust (now ShoreBank Enterprise Pacific) which provided financing, marketing and management assistance to small businesses in the Pacific coastal rain forest area. From there, the rest of the ShoreBank family eventually followed in adopting the green agenda.

For the entire story chronicling the founding of the bank and its move towards its environmental commitment, you may read Alka Srivastva’s dissertation for Case Western Reserve University here>>>.

From there, it did not take long for ShoreBank to incorporate environmentalism into its mission and formalize its commitment to the green agenda. In 1999, ShoreBank’s board of directors adopted a new conservation and development policy requiring the bank itself to reduce its waste and also encourage its customers to adopt more sustainable practices. The concept of environmental health then assumed its place alongside the goals of community development and profitability to form the “Triple Bottom Line” slogan that the company champions today. As evidence of its own commitment, ShoreBank has even addressed its own carbon emissions by purchasing offsets for 450 metric tons of C02 to offset emissions through 2010.

ShoreBank’s environmental advocacy is now prevalent throughout its dealings, both  in how it relates to its domestic banking customers, and in its international development objectives.

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In the midst of the radical social atmosphere of the 1960s, a group of Chicagoans, Ron Grzywinski, Milton Davis, James Fletcher, and Mary Houghton, came together to found South Shore Bank in the 1973 with a goal to provide loans to minority owned small businesses.

Ron Grzywinski had banking experience with Hyde Park Bank. Milton Davis was a University of Chicago employee and the Chicago leader of the Congress of Radical Equality (CORE).  James Fletcher had previously worked in President Johnson’s administration as part of the internal transition team and with the Citizen’s Action Program in the Office of Economic Opportunity.  Mary Houghton, at that time, was running a daycare program for low income families.

These four individuals had often met to discuss ways in which they could help the needs of urban society by becoming a financial intermediary for social development and community actions. These discussions led to the creation of a minority lending program at Hyde Park Bank. With the influence of Al Raby, a Chicago black rights leader, they looked for the next step to continue their goals of providing loans to small businesses in neighborhood development. Grzywinski stated, ” community-based organizations appeared to be the only organizations in society that cared about the broad range of needs that exist in urban communities”.

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