Just Money: Banking as if Society Mattered

<div class="xblock xblock-public_view xblock-public_view-vertical" data-block-type="vertical" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="VerticalStudentView" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@vertical+block@3ae7bac80ece425aa19c53f5ddc8daec" data-graded="False" data-runtime-class="LmsRuntime"> <h2 class="hd hd-2 unit-title">Introduction</h2> <div class="vert-mod"> <div class="vert vert-0" data-id="block-v1:MITx+11.405x+2T2020+type@html+block@862c06a8a19f42beae58f47bef8f1108"> <div class="xblock xblock-public_view xblock-public_view-html xmodule_display xmodule_HtmlBlock" data-block-type="html" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="XBlockToXModuleShim" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@html+block@862c06a8a19f42beae58f47bef8f1108" data-graded="False" data-runtime-class="LmsRuntime"> <script type="json/xblock-args" class="xblock-json-init-args"> {"xmodule-type": "HTMLModule"} </script> <p>Is Just Banking profitable?  Is there a trade-off between mission-driven banking and producing a financial return? How much profit is acceptable for a Just Bank?  These are questions we hear frequently when we introduce the concept of Just Banking.  In this section, we will attempt to address these questions and explore the dynamic relationship between running a business and producing a positive impact.</p> <p>Click ahead for more.</p> </div> </div> </div> </div>

<div class="xblock xblock-public_view xblock-public_view-vertical" data-block-type="vertical" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="VerticalStudentView" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@vertical+block@354eb058c89e4f18898d711a5bd447bd" data-graded="False" data-runtime-class="LmsRuntime"> <h2 class="hd hd-2 unit-title">Voices from the Field: Tamara Vrooman</h2> <div class="vert-mod"> <div class="vert vert-0" data-id="block-v1:MITx+11.405x+2T2020+type@html+block@eb2edd414250499aafcbdb87dea00ebb"> <div class="xblock xblock-public_view xblock-public_view-html xmodule_display xmodule_HtmlBlock" data-block-type="html" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="XBlockToXModuleShim" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@html+block@eb2edd414250499aafcbdb87dea00ebb" data-graded="False" data-runtime-class="LmsRuntime"> <script type="json/xblock-args" class="xblock-json-init-args"> {"xmodule-type": "HTMLModule"} </script> <p> </p> <p style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: left; direction: ltr; unicode-bidi: embed; mso-line-break-override: none; word-break: normal; punctuation-wrap: hanging;">In this video, we interview Tamara Vrooman, President & CEO of Vancity Credit Union, who has interesting insights about the relationship between profitability and Just Banking.</p> </div> </div> <div class="vert vert-1" data-id="block-v1:MITx+11.405x+2T2020+type@video+block@88fc7c80a935419d83823fdffe98fb8b"> <div class="xblock xblock-public_view xblock-public_view-video xmodule_display xmodule_VideoBlock" data-block-type="video" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" 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"sources": ["https://d2f1egay8yehza.cloudfront.net/MIT11405/MIT114052016-V004700_DTH.mp4", "https://d2f1egay8yehza.cloudfront.net/MIT114052016-V004700/MIT114052016-V004700.m3u8"], "duration": 705.14, "end": 0.0, "completionEnabled": false, "completionPercentage": 0.95, "ytTestTimeout": 1500}' data-bumper-metadata='null' data-autoadvance-enabled="False" data-poster='null' tabindex="-1" > <div class="focus_grabber first"></div> <div class="tc-wrapper"> <div class="video-wrapper"> <span tabindex="0" class="spinner" aria-hidden="false" aria-label="Loading video player"></span> <span tabindex="-1" class="btn-play fa fa-youtube-play fa-2x is-hidden" aria-hidden="true" aria-label="Play video"></span> <div class="video-player-pre"></div> <div class="video-player"> <div id="88fc7c80a935419d83823fdffe98fb8b"></div> <h4 class="hd hd-4 video-error is-hidden">No playable video sources found.</h4> <h4 class="hd hd-4 video-hls-error is-hidden"> Your browser does not support this video format. 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<div class="xblock xblock-public_view xblock-public_view-vertical" data-block-type="vertical" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="VerticalStudentView" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@vertical+block@ea37ce33cf844460b5d80d748715fb18" data-graded="False" data-runtime-class="LmsRuntime"> <h2 class="hd hd-2 unit-title">Profit vs. Mission</h2> <div class="vert-mod"> <div class="vert vert-0" data-id="block-v1:MITx+11.405x+2T2020+type@html+block@69d34e70586d4399af7b2e0b8e97380e"> <div class="xblock xblock-public_view xblock-public_view-html xmodule_display xmodule_HtmlBlock" data-block-type="html" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="XBlockToXModuleShim" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@html+block@69d34e70586d4399af7b2e0b8e97380e" data-graded="False" data-runtime-class="LmsRuntime"> <script type="json/xblock-args" class="xblock-json-init-args"> {"xmodule-type": "HTMLModule"} </script> <p>Are Just Banks profitable?  Is there a tradeoff between financial return and mission? Expanding on what we heard from Tamara Vrooman, we continue to explore the dynamic relationship between profitability and mission in the video below.  </p> </div> </div> <div class="vert vert-1" data-id="block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d"> <div class="xblock xblock-public_view xblock-public_view-video xmodule_display xmodule_VideoBlock" data-block-type="video" data-has-score="False" data-runtime-version="1" data-course-id="course-v1:MITx+11.405x+2T2020" data-init="XBlockToXModuleShim" data-request-token="a338129603ea11f099b702fa081815af" data-usage-id="block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d" data-graded="False" data-runtime-class="LmsRuntime"> <script type="json/xblock-args" class="xblock-json-init-args"> {"xmodule-type": "Video"} </script> <h3 class="hd hd-2">Profit vs. Mission</h3> <div id="video_6d2b3580ce0b4801807034d584f39f9d" class="video closed" data-metadata='{"saveStateEnabled": false, "autoplay": false, "publishCompletionUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d/handler/publish_completion", "start": 0.0, "prioritizeHls": false, "saveStateUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d/handler/xmodule_handler/save_user_state", "recordedYoutubeIsAvailable": true, "streams": "1.00:MyHw5qZgTxo", "autoAdvance": false, "transcriptAvailableTranslationsUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d/handler/transcript/available_translations", "captionDataDir": null, "ytMetadataEndpoint": "", "showCaptions": "true", "lmsRootURL": "https://openlearninglibrary.mit.edu", "transcriptTranslationUrl": "/courses/course-v1:MITx+11.405x+2T2020/xblock/block-v1:MITx+11.405x+2T2020+type@video+block@6d2b3580ce0b4801807034d584f39f9d/handler/transcript/translation/__lang__", "ytApiUrl": "https://www.youtube.com/iframe_api", "transcriptLanguages": {"en": "English", "de": "German", "pt": "Portuguese", "es": "Spanish"}, "speed": null, "autohideHtml5": false, "generalSpeed": 1.0, "transcriptLanguage": "en", "savedVideoPosition": 0.0, "poster": "https://mitx-edx-video-meta-storage.s3.amazonaws.com/media/video-images/0021699cb2b740a7b214b3adb00fbecb.jpeg?Signature=u8Ave6G7BkDJFUeRv2%2Br9Zi2PX8%3D&AWSAccessKeyId=ASIA4QDFFSUR63EPNLYK&Expires=1742296975&x-amz-security-token=IQoJb3JpZ2luX2VjEAQaCXVzLWVhc3QtMSJHMEUCIQC5o1x2zZwnYiOBNVe2EJU%2BghizORDcs%2BncIp2gMAWQIQIgMwsPtScOvgfhJ%2Bchz1cjdQ%2B%2FgbBx53SThkibTURhEWUqugUIXBADGgw4NTkyMDU2Mzc0MTEiDJ1LD9OBSyRrTnKkZCqXBQXgbQwwv50suHzhB4m4OfaHmVCWen84zM88yQbUZLLWtuCV7KjF6%2Fjko%2Bd7vVlT8r%2FvM1%2BZKWQW3ChfrZkJq6h5o04iGylwKi3HVbsjpVJLtLpJ1h1%2Fjn9l0l5ZMj9UyRDlYG12FSvQDf53ysG0fLSFkAgC2F1PukPCujBdx28sDprD2MWuqv37ZAT8vsbm%2Fl0d91264cvCLBQCg2uCmEGX5Vx9Ukg2P62Rwhq1kYvolVFziU1PIV9WMOTtKjRqfBEvbGV49Hsml1VQA5%2BGvx0SV5C7JMNwZiJu%2BYXgKYROTQj%2F7fWwnealGDgNZeGvN1%2BSefmilUHv1qfhnAZrnjnL2iTrK4ttEALQKsai7lq8%2BGEsEYUVGL1qtVhQOPH1VWyG7tPnYoOofP04XSf%2FNA3p5SG1j5bobm2xjxcJhb5mPuLUp8T%2F8%2By6Gg7Adw2gGGUqLOe1igkTOsW%2BBYWVkXA7yRiluD8Mv1%2F4u1KTeJOr7n1JWPM7Qumigj8QF2or%2FDke0JL7zuz4wVIYhZPQi6mNBG80Xxyop81CUdq75IX5MSwK6HfxA%2BwWY%2BBIdNoaDNA7L2wj2kl3XAgA8yos1S4jGvbCUGzHSt9y9e4%2BCwn%2FRRfLwu5ctfnQLoEHu56pcJTDP7a5thmIUUP4UvmPMT%2BaVjUGTBouvQEeEo%2FWMvu2TBJFC0Z5Gef6d2W2eVpLXZgZG5xdZAfRDQHubpnfEpVDLPjZAPFHPKgHQ7P%2B382ukViiCL4oxplWQux9czN2BMPwSc%2B5sGuNaecSRFB2NyVwdiZsodgge%2BwGf4nt7bKQe3qxjN7VfBihbyJ1zOP9Z788OgxftapZupgrXDDrbMkrBtq4Pt8OY7iv5yxFmNEZgqmPJMX22DCUqeW%2BBjqxATk8DlEwSFKOPx%2BDaWttgyiEvdDl3fHAyxiTO7BDyh18qPod4ztDRRggR0h52R2BKLT2dv%2F5lCx6O8gtsEJj%2BVcG%2FQw%2BQn0ueaStWH9%2F2T%2BjRBFhyN6UcI6BV0VB4fm%2BmhaJVdziGAiEGp5vt5Z4S5H25oL8ZrMDUTXD%2BZjCmQ3vUPafToCob0CvBFTmL2rQf1lU3Kb3gnHqNWUJ0Cr1HNW9xuklCG287S9J4ByJhjr5lw%3D%3D", "sources": ["https://d2f1egay8yehza.cloudfront.net/MIT11405/MIT114052016-V003000_DTH.mp4", "https://d2f1egay8yehza.cloudfront.net/MIT114052016-V003000/MIT114052016-V003000.m3u8"], "duration": 315.3, "end": 0.0, "completionEnabled": false, "completionPercentage": 0.95, "ytTestTimeout": 1500}' data-bumper-metadata='null' data-autoadvance-enabled="False" data-poster='null' tabindex="-1" > <div class="focus_grabber first"></div> <div class="tc-wrapper"> <div class="video-wrapper"> <span tabindex="0" class="spinner" aria-hidden="false" aria-label="Loading video player"></span> <span tabindex="-1" class="btn-play fa fa-youtube-play fa-2x is-hidden" aria-hidden="true" aria-label="Play video"></span> <div class="video-player-pre"></div> <div class="video-player"> <div id="6d2b3580ce0b4801807034d584f39f9d"></div> <h4 class="hd hd-4 video-error is-hidden">No playable video sources found.</h4> <h4 class="hd hd-4 video-hls-error is-hidden"> Your browser does not support this video format. 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