Four years ago, we reclaimed our legacy as a mission driven, values-based company.
Today, we are one of just 16 banks in the U.S. to become a Certified B Corporation™, and one of 22 B Corps proudly headquartered here in Maine. For us, this certification is more than just a label or endorsement. It is about being part of a tangible movement, using profit to power our purpose and creating a sustainable, more equitable planet. By putting our clients, employees, communities and environment at the heart of every decision, we are doing just that.
Since becoming a B Corp in 2021, we’ve been on a continuous journey to create deeper, more meaningful impact—for our clients, colleagues, communities, and the environment. From powering our branches with 100% renewable energy to launching our Sustainable Impact Program, our progress is woven into everything we do. And behind it all? A team of passionate, purpose-driven individuals always looking for the next ‘first’.
Community Engagement & Volunteering Program
We believe that our non-profit partners play a critical role in identifying innovative solutions to our most complex challenges as a community. And we believe that the solutions to those challenges can and should be community driven and rooted in trust. Our philanthropy aims to develop deeper collaboration with our non-profit leaders. Our goal is unlocking the deep expertise and potential of our non-profit leaders to understand the unmet needs and unrealized dreams of their organizations.
Our colleagues serve a critical role in ensuring these organizations have support ranging from day-to-day volunteers to board service. We leverage our talents and resources where possible to offer services not readily accessible to these organizations, in areas such as finance, marketing human resources and so on. In doing so, Bank colleagues connect more deeply to the challenges our community faces, the partners who are shifting the arc of individual lives and investments the Bank is making.
2024 By the Numbers:
- $401,521 in Total Contributions, Sponsorships & Grants (without volunteer time)
- $558,121 in Total Contributions, Sponsorships & Grants (with volunteer time)
- 1.2% of Employees Work Hours Spent Volunteering
- 79.1% of Employees Spent Time Volunteering
- $156,600 in Value of Volunteer Hours
- 4,950 Total Volunteer Hours
Environmental Stewardship
Recognizing our responsibility to shape a sustainable future for generations of Mainers, we embarked on a mission in 2020 to reduce our environmental footprint. Since then, we’ve made significant strides, particularly in reducing our reliance on fossil fuels, achieving a 63% reduction in fossil fuel-based energy usage for Bank operations.
To do this, we formed an “Environmental Stewardship Impact Team,” a group of passionate colleagues tasked with identifying and addressing our environmental impacts and opportunities. One of our most significant milestones was the adoption of 100% renewable energy across all our operations. Additionally, in partnership with ReVision Energy, the Bank purchased energy from a solar farm in Sidney, Maine, and installed LED lighting in all branch locations. These projects together eliminated approximately 1,030,000 pounds of CO2 annually and created energy savings of 106,000 kWh annually.
Finally, the Bank has created a leading Sustainable Impact Program that enables clients to advance their ESG goals by linking their bank deposits to loans made by the Bank that align with the UN Sustainable Development Goals (SDGs). While we celebrate these achievements, we also acknowledge the challenges ahead. Addressing indirect emissions that come from areas such as our supply chain, our loan book, or employee commuting, will require further collaboration and innovative solutions. We are committed to continuing our efforts and plan to begin this work in 2025.
2024 By the Numbers:
- 100% of Bank Branches and Operation Centers are Renewably Powered
- 63.8% reduction in Fossil-Fuel Based Energy Usage Since 2021
- 100% of Bank locations participate in a waste reduction program, ensuring resources are diverted appropriately.
Much more information can be found in the Bank’s Annual Impact Report.
So, what is a Benefit Corporation or a Certified B Corp? What’s the difference?
A Benefit Corporation in Maine is a for-profit company that aims to create a public benefit. Benefit corporations are also known as “B Corps”. Benefit corporations are required to create a positive impact on society and the environment. They must consider the impact of their decisions on all stakeholders, including workers, the community, and the environment. As part of this, we’re required to utilize a third party standard to verify our impacts. That’s where the B Corp Certification comes in.
Certified B Corporations™ are measured against 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 Benefit Corporation and 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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