Coastal Financial in Everett, Wash., bought the GreenFi brand of climate-friendly consumer financial services products from Mission Financial Partners.
The $4.6 billion-asset Coastal said in a press release that, as part of the deal, Mission Financial will continue to partner with the bank to operate and market the GreenFi program through its existing technology platform. The price wasn’t disclosed.
Coastal will remain the banking partner for GreenFi’s consumer financial services program.
The acquisition “gives Coastal full control over a mission-driven consumer financial products offering in an area of increasing consumer demand,” Eric Sprink, Coastal’s CEO, said in the release. “We were very intentional that this next phase of our partnership preserved customer continuity, while creating optionality for how the GreenFi platform may grow in the future, whether through continued partnership, deeper integration, or expanded product offerings.”