Oakland, California (EastBayDaily) — Beneficial State Bank was recognized for creating the most positive community impact by the nonprofit B Lab with the release of the third annual ‘B Corp Best for Communities’ list. The ‘B Corp Best for Communities’ list honors 86 businesses that earned a community impact score in the top 10% of all Certified B Corporations of their size on the B Impact Assessment, a rigorous and comprehensive assessment of a company's impact on its workers, community, and the environment. Honorees were recognized among micro, small, and mid-sized businesses.
Beneficial State Bank is a triple bottom-line financial institution that believes money should serve people, not the other way around. So we’re building a better future with our customers by building a better banking system: Beneficial Banking. The future we’re creating together will strengthen our local communities, improve quality of life for each of us, and be reflected in widespread gains in social equity and environmental renewal. Founded in 2007, we offer fair and transparent banking products and services to individuals, nonprofits and businesses.
Other honorees include d.light design, supplier of affordable, renewable energy to 30 million people in 60 countries, Greyston Bakery, which provides job opportunities regardless of work history through their open hiring policy, and Minnesota’s Sunrise Banks, which invests in projects to develop strong communities that provide homes and jobs to their residents.
"The B Corp community continues to rise in strength and is an extremely important touchstone for us. We are inspired to keep up with its call to action and humbled to receive this recognition, with awareness that we can always improve. Onward!” stated CEO and co-founder, Kat Taylor.
The ‘Best for Communities’ companies come from over 35 different industries such as consulting, educational support services, retail and financial services. A quarter of honorees are based outside North America, with 25% of companies operating in emerging markets including Chile, the Republic of Korea and Kenya. (Full list of honorees below and at bestfortheworld.bcorporation.net)
Each honored company is a Certified B Corporation. They use the power of business to solve social and environmental problems and have met rigorous standards of social and environmental performance, accountability, and transparency. Today there are over 1045 certified B Corporations, across 60 industries and 34 countries, unified by one common goal: to redefine success in business.
B Lab released the “Best for the World” list (overall impact) in March and the “Best for the Environment” list (environmental impact) in April. The ‘Best for Workers’ (employee impact) list will be announced in the fall.
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Beneficial State Bank is an FDIC-insured Community Development Financial Institution (CDFI) and certified B Corporation, that serves businesses, nonprofits, and individuals. Beneficial State Bank operates from a triple bottom-line measuring its financial, social, and environmental impact to meet the needs of its communities. The bank is headquartered in Oakland, California with branches in Seattle, Washington, Portland, Oregon and a loan development office in Sacramento, CA.
For more information, visit http://www.beneficialstate.com.
B Lab is a nonprofit organization that serves a global movement to redefine success in business so that all companies compete not only to be the best in the world, but the best for the world.
B Lab drives this systemic change through a number of interrelated initiative: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between “good companies” and good marketing; 2) passing legislation to accelerate growth of social entrepreneurship and impact investing (20 states have already passed benefit corporation legislation); 3) developing B Analytics, a customizable platform for investors to benchmark and report the impact of their global private equity portfolios; and 4) providing free, powerful tools for businesses to measure, compare and improve their social and environmental performance (more than 16,000 businesses use B Lab’s free B Impact Assessment).
For more information, visit http://www.bcorporation.net.