The waste bank (WB) is a government program encouraging community participation in managing waste with social engineering principles. Since its establishment in 2008, only 5% of active customers remain. This study evaluates the management of WB sustainably and the most optimal future alternatives. The research is qualitative and quantitative with a sequential exploratory approach. Data from 35 WB in four provinces (East Java, Central Java, West Java, and DI Yogyakarta) involved 680 respondents. The data was analyzed using the Analytic Network Process (ANP) and Multi-Criteria Decision Analysis (MCDA) to select the optimal alternative. This study found that the three main problems in WB management are institutional (community proactiveness, training, outreach, and capacity building), waste bank capital (triple helix, youth education, and communication forums), and marketing (old selling products, price fluctuations, and market access). Strengthening social capital-based institutions is the main topic of improvement and sustainability, especially networks and trust. The role of government, NGOs, and the community is needed to encourage the sustainability of the WB. The main strategy for solving the problem is strengthening social capital-based institutions, especially networking and value (trust, convenience, and relationships). Assistance is needed from the government or NGOs in managing WB by prioritizing institutional strengthening based on social capital. In addition, encourage all parties to develop an independent waste bank model with reinforcements, especially in institutions, capital, and marketing.