Greenpenny
Greenpenny was a virtual, carbon-neutral community-banking subsidiary of Decorah Bank & Trust that offered FDIC-insured deposit products and residential solar loans to personal and business customers in Iowa markets, and was closed on December 2, 2024.
- Company typePrivate
- Founded2020
- HeadquartersDecorah, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
Greenpenny firmographics
Firmographics- Name
- Greenpenny
- Legal name
- greenpenny Bank
- Website
- https://greenpenny.bank
- Company type
- Private
- Founded year
- 2020
- Operating status
- Closed
- Headcount range
- 51–100 employees
- Short description
- Greenpenny was a virtual, carbon-neutral community-banking subsidiary of Decorah Bank & Trust that offered FDIC-insured deposit products and residential solar loans to personal and business customers in Iowa markets, and was closed on December 2, 2024.
- Ownership category
- akta.pro rank
Greenpenny industry classification
Industry- Product category
- Community Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Green/Ethical/Sustainable Neobanks (FSABAFAI)
Keywords
Where Greenpenny is headquartered
LocationHeadquarters
- HQ city
- Decorah
- HQ country
- United States
- HQ region
- North America
Markets served
Greenpenny business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Residential Solar Loan Servicing: Recurring interest income from residential solar loans originated or serviced by greenpenny; loan terms and repayment requirements were preserved through the Decorah Bank transition, with automatic payments processing unchanged.
- Deposit Account Banking (Net Interest Margin): FDIC-insured deposit products (checking, savings, CDs) generating net interest margin; deposits transitioned to comparable Decorah Bank & Trust accounts on December 2, 2024.
Go-to-market motion1 record
Greenpenny product offering
Product offeringCore offering
Greenpenny was a virtual, carbon-neutral community bank that specialized in originating and servicing residential solar loans while offering FDIC-insured personal and business deposit products (checking, savings, CDs) through a digital-first banking platform. It operated as a subsidiary brand of Decorah Bank & Trust, a family- and employee-owned community bank in Decorah, Iowa.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Solar Loans
Companies that use Greenpenny
Customer profileIdeal customer profiles2 records
Greenpenny technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Greenpenny competitors and assessment
Company assessmentDirect peers
- Aspiration: Aspiration is a digital bank explicitly marketed around sustainability and carbon offsetting, offering deposit products and impact-focused services — directly comparable to Greenpenny's carbon-neutral virtual banking positioning.
- Ando Money: Ando is a digital, carbon-neutral challenger bank that channels deposits into clean energy lending. It competes directly with Greenpenny's value proposition of green deposits funding renewable energy loans.
- Atmos Financial: Atmos is a climate-focused digital bank and lending platform that funds clean energy and sustainability projects via deposits. Its deposit-and-green-lending dual model is the closest analog to Greenpenny's solar-loan-plus-deposit offering.
Broad incumbents
- Amalgamated Bank: Amalgamated is a larger, mission-driven commercial bank with a strong sustainability/ESG focus and climate-friendly lending. It is a broader incumbent offering overlapping capabilities to Greenpenny's community-bank + green-lending thesis.
- Beneficial State Bank: Beneficial State is a values-based, B-Corp community bank focused on environmental and social impact lending. Comparable to Greenpenny's community-bank + sustainability positioning, though it operates at a larger, multi-state scale.
Market position
Customer concentration
Greenpenny social profiles
Digital presenceGreenpenny compliance and trust
Trust signalCompliance2 records
Greenpenny financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greenpenny leadership team
Management profileNumber of profiles
Greenpenny funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greenpenny M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greenpenny
What does Greenpenny do?
Greenpenny was a virtual, carbon-neutral community bank that specialized in originating and servicing residential solar loans while offering FDIC-insured personal and business deposit products (checking, savings, CDs) through a digital-first banking platform. It operated as a subsidiary brand of Decorah Bank & Trust, a family- and employee-owned community bank in Decorah, Iowa.
Is Greenpenny a public or private company?
Greenpenny is a private company. It is classified as family owned and is currently closed.
When was Greenpenny founded?
Greenpenny was founded in 2020. It employs 51 to 100 people.
Where is Greenpenny based?
Greenpenny is headquartered in Decorah, United States, in the North America region.
How does Greenpenny make money?
Two revenue lines are on record. Residential Solar Loan Servicing is the primary driver. The others are deposit Account Banking (Net Interest Margin).
Who are Greenpenny's main competitors?
Direct peers on record are Aspiration, Ando Money and Atmos Financial. Broad incumbents are Amalgamated Bank and Beneficial State Bank.
Does Greenpenny have an API?
No public API is recorded for Greenpenny.
What industry is Greenpenny in?
Greenpenny's product category is Community Banking. Its primary akta.pro industry code is FSABAFAI, Green/Ethical/Sustainable Neobanks. Its NAICS code is 5221 and its SIC code is 6022.