I just cut up my REI MasterCard after I started looking into USBank.
The direct reason for this was the terrible overview you get on what you are paying when. So I ended up paying more interest then I ever got rewards. The second reason is my looking deeper into what USBank actually is! Really, it is time for REI to step away from these big corporate banks and set an example by working with more sustainable banks. REI is a coop and needs to behave like one.
I love REI, guys, please do better in your choice of banks!
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One of the reasons we are excited about this community is our ability to hear directly from our members with their questions, concerns, suggestions and feedback. We appreciate you reaching out about our relationship with US Bank.
As you may know, REI has a longstanding and broad commitment to stewarding the outdoors and the environment – if you’re interested in learning more, please visit our Stewardship Report which covers the breadth of our work, including our investment of millions of dollars each year in more than 430 nonprofits that help to protect the outdoor spaces we know and love. That includes $1 million donated to the National Forest Foundation from the REI Co-op Mastercard.
In terms of our work with US Bank and the topic of sustainability, please know that we have work underway. We have met with the bank’s senior leaders, members of our community, and our board of directors, which led us to engage an external consultant to look more closely at environmental, social, and governance (ESG) best practices for the financial services sector. We’re using that work to support conversations with our service providers and guide future decisions as contracts come up for renewal.
Thank you, again, for providing us with your feedback - it helps us to form a full picture as we strive to deliver the highest quality service to our members and customers.
At REI, we believe time outside is fundamental to a life well lived.