Three years ago, we reclaimed our legacy as a mission driven, values based company.
Establishing an internal culture and building a team of like-minded people was the first step in our journey. The next was to ensure our actions matched our intentions while raising the bar even higher by committing to an external benchmark that transparently measures how well we serve our clients, employees, and communities.
We’re now one of only 14 banks in the U.S. to become a Certified B Corporation™. That means we’ll continue to use profit to power our purpose, rather than serving as the purpose itself. We’ll serve the best interests of our clients, our employees and our communities, while also honoring our environment. Some of the ways in which we plan to elevate our game in this regard as a B Corp include:
- Developing a new community engagement approach that will pair increased philanthropy with even deeper levels of service to community partners. This service will include seeking opportunities to lend our strategic, operational and problem solving skills to our community partners to help them really move the needle in achieving their own missions.
- Establishing a new high priority “Empowering” category of giving through which we will seek to deliver truly profound impacts on the lives of individuals who are striving to overcome a wide range of obstacles. There will be a special emphasis within this category for individuals with a limited voice or those seeking to overcome the multi-faceted direct and indirect challenges of racism, sexism and all other forms of prejudice.
- Embracing an even deeper commitment to Diversity, Equity and Inclusion, ranging from internal efforts to ensure an equitable internal culture to targeted donations to organizations like the Maine Justice Foundation to focusing on serving the needs of women and minority-owned businesses.
- Securing a long term agreement to procure our electricity from a local Maine solar farm.
So what is B Corp
and what does that mean for you?
Certified B Corporations™ are businesses dedicated to meeting the highest standards of verifiable social and environmental performance, public transparency, and legal accountability. This movement is helping redefine success by giving companies, and their customers, a tangible and measurable benchmark.
In short, it means we’re committed to creating a more socially equitable world, and joining the ranks of other B Corp certified companies—such as Patagonia, Ben & Jerry’s, and Seventh Generation.
As the first bank headquartered in Maine to become a Certified B Corporation, we’re using this as another opportunity to lead by example. It’s a signal to our business partners, clients, and communities that your money’s not only in safe hands, but caring ones as well. We’ll continue to pay it forward, and to use the loyalty and trust we’ve earned to make Maine a more equitable, sustainable home for everyone.
Our certification comes from B Lab™
A nonprofit that evaluates impact on natural resources, treatment of employees and vendors, and the company’s behavior in the community. Visit bcorporation.net to learn more about their work all over the world.
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