10 LGBTQ-Friendly Banks Of 2024 (2024)

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LGBTQ-friendly banks aim to provide a safe space where people of all sexual orientations and gender identities can access financial products and services tailored to their needs and goals. Many of these financial institutions also promote equality from within through inclusive policies for their employees.

We’ve compiled a list of 10 banks that support the LGBTQ+ community 365 days a year—not just during Pride month.

Key Takeaways

  • U.S. Bank, Bank of America, TD Bank, Climate First Bank and Amalgamated Bank are just a handful of institutions implementing policies to support the LGBTQ+ community.
  • LGBTQ-friendly banks show their support by donating to LGBTQ+ organizations, sponsoring Pride events, having inclusive workplace policies and benefits for LGBTQ+ employees and offering services tailored to LGBTQ+ customers.
  • The Human Rights Campaign Foundation has awarded several of the banks on this list the Equality 100 Award for their leadership in LGBTQ+ workplace inclusion.
  • Some of these banks—including Republic Bank and BMO—offer True Name debit cards for transgender and nonbinary people.

Top LGBTQ-Friendly Banks

Over 40% of LGBTQ+ adults feel their financial institution’s policies and values don’t reflect their own, according to Forbes Advisor’s LGBTQ+ finances survey. The following banks are striving to change that with more inclusive policies, products and services.

1. U.S. Bank

U.S. Bank has LGBTQ+ flagship branches in Phoenix’s Uptown, Seattle’s Capitol Hill, San Francisco’s Castro District, and Chicago’s Lakeview East. These branches are located in historically LGBTQ-friendly neighborhoods, staffed by LGBTQ+ members and allies, and decorated with LGBTQ-themed artwork.

For the past 17 years, the bank has also earned a perfect score of 100 on the Human Rights Campaign Foundation’s Corporate Equality Index (HRC CEI), a report that measures LGBTQ+ workplace equality.

On U.S. Bank’s website, you’ll find an entire LGBTQ+ financial services hub with articles on family planning, estate planning, preparing for homeownership and more. The bank also conducted an LGBTQ+ Financial Landscape study in 2022 to shed light on the unique challenges this community faces within the banking industry.

2. Bank of America

Bank of America was the first financial services company to provide its employees with full domestic partner benefits, back in 1998 before same-sex marriage was legalized in the U.S. In the same year, it included sexual orientation in its non-discrimination policies.

Today, Bank of America runs an LGBTQ+ Pride Employee Network and LGBTQ+ Pride Ally Program with over 26,000 out-at-work LGBTQ+ employees and allies across 30 countries. This program hosts educational and volunteer events for employees. The bank is also an official partner of Love Has No Labels, which campaigns for representation of all identities and actively supports Pride events.

3. TD Bank

TD Bank is another institution that scored a perfect 100 on the HRC CEI in 2024. In 2022, the HRC also named it one of the Best Places to Work for LGBTQ+ Equality for its “comprehensive policies, benefits and practices that ensure greater equity for LGBTQ+ workers and their families.”

The bank sponsors a program called Own It, which helps support transgender, nonbinary and gender-expansive entrepreneurs in getting their business ideas off the ground. Also, through its global initiative TD Ready Commitment, TD Bank plans to dedicate $750 million to promoting positive change in its communities by 2030. Part of this plan involves supporting LGBTQ+ programs and initiatives.

4. Climate First Bank

Climate First Bank offers a Pride Checking account designed to support the LGBTQ+ community. For every new qualifying account opened, the bank donates $100 to the LGBTQ+ nonprofit Bliss CARES, a medical and sexual health organization that provides comprehensive care to individuals living with or at risk of HIV and also offers gender-affirming care services and support.

The Pride Checking account earns 0.10% APY, comes with free Pride checks and has a low minimum deposit of $50 and no monthly fees. Plus, you can use your preferred name and pronouns. Climate First Bank is based in Florida, but you can open an account from anywhere.

5. Amalgamated Bank

Like other banks on this list, Amalgamated Bank scored 100% on the HRC CEI. The bank launched the Hate is Not Charitable campaign to prevent philanthropic funds from reaching hate groups. It was also one of the first banks to accept New York’s gender-affirming IDNYC card as a valid form of identification, which allowed transgender people to open bank accounts using their true first names.

Internally, Amalgamated Bank’s staff insurance plan covers gender-affirming surgery and hormone therapy. Its Pride Employee Resource Group (ERG) offers pro bono services to organizations like Immigration Equality and the Transgender Legal Defense and Education Fund.

6. Chase Bank

Through its Office of LGBTQ+ Affairs, Chase Bank leads several initiatives designed to foster equality and inclusivity, including a Pride Business Resource Group, an LGBTQ+ Executive Forum and a Bi+ Council. The bank also earned a score of 100 on the HRC CEI in 2024.

In 2021, Chase pledged to donate $5 million to LGBTQ+ nonprofits in four years. These nonprofits include GLSEN, Out & Equal, SAGE, San Francisco AIDS Foundation and The Lesbian, Gay, Bisexual & Transgender Community Center (The Center).

7. Citizens Bank

Citizens Financial Group also received a score of 100 on the HRC CEI in 2024. Citizens Bank’s employee-led Pride Business Resource Group (Pride BRG) aims to ensure the organization makes decisions that consider and benefit the LGBTQ+ community. The Pride BRG also puts together volunteer and training projects for employees and the community.

Citizens Bank sponsors Pride events in New York, Ohio, Pennsylvania, Massachusetts, New Jersey and Rhode Island.

8. Ally Bank

In many ways, Ally stands out for being LGBTQ-friendly. For one, the company presented GLAAD’s critically acclaimed web series, Changemakers, which featured Black LGBTQ+ business owners making a difference in their communities. Ally donated $10,000 to each business owner featured.

Ally partners with several LGBTQ+ organizations, including Time Out Youth and the Ruth Ellis Center in Detroit. In 2024, Ally sponsored Pride events in Dallas; Pittsburgh; Detroit; Charlotte, North Carolina; Jacksonville, Florida and Central Arkansas.

The Human Rights Campaign Foundation recognized Ally as one of the “Best Places to Work for LGBTQ+ Equality” in 2022, and the bank has joined over 200 other companies in opposing anti-LGBTQ+ state legislation with the HRC.

9. Republic Bank

Republic Bank is one of only a few banks that participate in the “True Name” program. This program allows transgender and nonbinary individuals to display their chosen names on their accounts. Republic Bank offers this option for business and personal debit cards. The other two banks that participate in this program are Citi and BMO Bank.

Republic Bank also has a Pride Business Resource Group and participates in community Pride events.

10. BMO Bank

BMO Bank also participates in the “True Name” program. With this bank, you can get a credit card, debit card or ATM card with your chosen name.

BMO also launched a multi-year growth initiative in 2020 called Zero Barriers to Inclusion 2025. This initiative focuses on improving the bank’s programs, policies, and practices to better serve employees, customers, and communities facing systemic barriers.

For the past three years, BMO has run a Rainbow Deposits campaign during Pride season. During this campaign, BMO donates $1 to Rainbow Railroad each time someone shares a picture of a rainbow on social media.

LGBTQ+ Discrimination in Banking

Over 30% of LGBTQ+ adults have experienced discrimination when accessing financial services, according to the 2024 LGBTQ+ Financial Wellness Report by the HRC. This discrimination can manifest in various ways, such as being denied loans or facing higher interest rates and fees than non-LGBTQ+ counterparts, facing harassment by service representatives or not being permitted to use preferred names and pronouns.

One major factor contributing to discrimination in banking is a lack of inclusive policies. Many banks require customers to use legal names or names that match their birth certificates when opening and managing accounts. This can exclude nonbinary and transgender individuals who use a preferred name that differs from the name on their government ID. Although some banks now allow customers to use their chosen first names, many do not.

Financial discrimination can have severe consequences. A 2022 LGBTQ+ Financial Landscape study by U.S. Bank found that 52% of LGBTQ+ adults have reported difficulty getting a mortgage compared to 38% of non-LGBTQ+ adults—despite having higher credit scores.

Why Is Choosing an LGBTQ-Friendly Bank Important?

When you deposit money into a bank account, your bank invests it in various projects, businesses, and initiatives. Consumers who worry their money is being used in a way that doesn’t align with their values may feel better about supporting a financial institution that prioritizes the LGBTQ+ community. The same goes for choosing LGBTQ-friendly investments.

Choosing an LGBTQ-friendly bank can mean supporting a company that fosters a safe and inclusive work environment for its employees, and it can also mean feeling more comfortable and safe as a customer.

Opting to bank with an LGBTQ-friendly institution can also help you avoid discrimination in the financial sector and open up access to services catering directly to the LGBTQ+ community.

Find The Best Online Banks Of 2024

Learn More

How To Know if Your Bank Is LGBTQ-Friendly

Several signs can help you determine if a bank is LGBTQ-friendly.

  • The bank has explicit non-discrimination policies protecting LGBTQ+ individuals. These policies should be easily accessible on their website or through customer service. Look for policies for both consumers and employees. An example would be a bank that allows its employees’ domestic partners to qualify for insurance benefits.
  • The bank offers financial products for the LGBTQ+ community. One such product is the True Name program, which allows customers to display their chosen names on their debit or credit cards. Pride Checking from Climate First Bank is another great example.
  • The bank has a history of supporting LGBTQ+ causes. Many LGBTQ-friendly banks highlight their partnerships or commitments to the community on their websites or social media. Look for actual steps the bank has taken to support the community, whether that’s Pride event sponsorships, financial contributions or company-led educational and volunteer initiatives.
  • The bank ranks highly on the Human Rights Campaign’s Corporate Equality Index. LGBTQ+ publications can also be helpful resources to see which banks actively reach out to and support the community.
10 LGBTQ-Friendly Banks Of 2024 (2024)

FAQs

What banks are most LGBTQ friendly? ›

Top LGBTQ-Friendly Banks
  • TD Bank. ...
  • Climate First Bank. ...
  • Amalgamated Bank. ...
  • Chase Bank. ...
  • Citizens Bank. ...
  • Ally Bank. ...
  • Republic Bank. Republic Bank is one of only a few banks that participate in the “True Name” program. ...
  • BMO Bank. BMO Bank also participates in the “True Name” program.
3 days ago

Which bank supports Pride? ›

If we are to become the best bank for customers then we must continue to ensure that this vision is inclusive of the LGBTQ+ community. At Lloyds Banking Group, we're #AlwaysProud because for us, Pride isn't a month in the calendar, it's an all-year celebration of sexualities and identities.

Does Bank of America support LGBTQ? ›

Our LGBTQ+ Pride Ally Program, an extension of our LGBTQ+ Pride Employee Network, deepens our commitment to our core values by realizing the power of our people, acting responsibly and delivering together as one team. Being an ally supports our commitment to being a great place to work for all teammates.

Does Wells Fargo support LGBTQ? ›

We support our customers' needs

We've been at the forefront of the financial services industry's efforts to meet the needs of the LGBTQ community.

What is the most ethical bank? ›

These seven providers rank highly on the ethical stakes.
  • Triodos Bank.
  • Nationwide.
  • The Co-operative Bank.
  • Cumberland Building Society.
  • Engage.
  • Starling Bank.
  • Monzo.
May 31, 2024

What is the hardest bank to get into? ›

Ex-Goldman Sachs helping train students/recent grads to secure jobs in banking - 90% placement rate to banks like GS, UBS and JP. These are the 10 hardest investment banks to get a job at in the world🌍👇 1. JP Morgan 2. Goldman Sachs 3.

Does Chase support pride? ›

We're working to foster an environment that accepts, supports and celebrates LGBTQ+ individuals and communities. In 2022, our organization saw a 35% rise in self-identifying LGBTQ+ employees, following a 50% increase in 2021.

Does TD Bank support LGBT? ›

At TD Bank, we support the LGBTQ2+ community and want everyone – friends, colleagues, and family alike – to be able to come as they are. Here's a look at how our journey has evolved over the years.

What type of Bank is LBG? ›

Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks.

Is PNC LGBTQ friendly? ›

PNC Proud PNC Proud seeks to provide resources, programming and support for LGBTQ+ employees through engagement, educational events and volunteering opportunities while creating an inclusive environment.

What is the Bank of America controversy? ›

The CFPB has taken numerous actions against Bank of America for violating federal law. In July 2023, the CFPB and the Office of the Comptroller of the Currency (OCC) ordered Bank of America to pay over $200 million for illegally charging junk fees, withholding credit card rewards, and opening fake accounts.

What group owns Bank of America? ›

Bank of America is a publicly held company owned by shareholders. Institutional investors own about 59% of its shares. The largest shareholder is Warren Buffett's Berkshire Hathaway, which owns about 13% of the shares.

Is Morgan State LGBTQ friendly? ›

Morgan State University Counseling Center services are affirming for students with all sexual orientations and gender identities. Our staff is committed to helping students navigate the challenges of exploring their identities, coming out, and integrated sexuality and gender identity and expression into their lives.

Does discover support lgbtq? ›

LGBTQ+ Professionals at Discover

PRIDE brings together lesbian, gay, bisexual, transgender, queer and ally employees. Their combined power and potential benefits everyone, from customers to communities.

What bank is Wells Fargo merging? ›

First Union merges

The new company was named Wachovia Corporation. As of December 31, 2001, it held assets totaling $330 billion and stockholders' equity totaling $28 billion. In 2008, Wells Fargo & Company acquired Wachovia Corporation, including First Union.

Does Bank of America support gender equality? ›

Investing in women

Inside our company, we have active efforts to recruit, retain and promote women, who represent over 50% of our global workforce and over 45% of our management team.

Does Capital One support LGBT? ›

Capital One is proud to continue to do our part in standing for what we believe in, fighting for what we know is right, and supporting and elevating the LGBTQ+ community. Together we listen. And learn. And grow.

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