Androscoggin Bank

Certified B Corporation
Headquarters

Maine, United States

Certified Since

January 2021

Industry

Deposit bank - Developed Markets

Sector

Service with Minor Environmental Footprint

Operates In

United States

Androscoggin Bank is a leading Maine community financial institution with a mission to enrich the lives of its clients, employees and local communities through trusted relationships. Headquartered in Lewiston, the Bank has been fiercely independent for 150 years offering innovative banking solutions to meet clients’ individual needs. Androscoggin Bank is Member FDIC. Androscoggin Bank is part of a small number of banks nationally who share in their commitment to leverage business as a force of good in their world. This means moving beyond stereotypical mindsets by challenging themselves to reimagine and reinvent the experience of community banking for their clients, employees, and community partners, while also honoring the environment. They'll continue to use profit to power purpose, rather than serving as the purpose itself. They believe that business – including banking – should aim higher and seek to create meaningful value for multiple stakeholders. It’s a signal to their business partners, clients, and communities that their money’s not only in safe hands, but caring ones as well. They will continue to pay it forward, and to use the loyalty and trust they have earned to make Maine a more equitable, sustainable home for everyone.

Overall B Impact Score

Based on the B Impact assessment, Androscoggin Bank earned an overall score of 91.1. The median score for ordinary businesses who complete the assessment is currently 50.9.
91.1
91.1 Overall B Impact Score
80 Qualifies for B Corp Certification
50.9 Median Score for Ordinary Businesses

Governance 9.3

The Governance Impact Area evaluates a company's overall mission, engagement around its social and environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.

Mission & Engagement0.3
Ethics & Transparency6.5
+ Mission Locked2.5

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Workers 30.2

The Workers Impact Area evaluates a company's contributions to its employees' financial security, health and safety, wellness, career development, as well as overall engagement and satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.

Financial Security11.1
Health, Wellness, & Safety8.5
Career Development4.4
Engagement & Satisfaction5.0

Community 32.8

The Community Impact Area evaluates a company's engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity, and inclusion; economic impact; civic engagement; charitable giving; and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.

Diversity, Equity, & Inclusion4.7
Economic Impact5.8
Civic Engagement & Giving7.3
Supply Chain Management0.7
+ Local Economic Development11.5

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Environment 5.3

The Environment Impact Area evaluates a company's overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company's operations and, when applicable, its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.

Environmental Management2.9
Air & Climate0.6
Water0.3
Land & Life1.5
+ Green Lending0

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.


Customers 13.0

The Customers Impact Area evaluates a company's stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts and media products, serving underserved customers or clients, and services that improve the social impact of other businesses or organizations.

Customer Stewardship2.0
+ Portfolio Reporting0
+ Targeted for Investment0
+ Leadership & Outreach1.8
+ Investment Criteria2.3
+ Portfolio Management6.6
+ Serving in Need Populations0

What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.



Previous Overall B Impact Scores

2021 Overall B Impact Score91.1

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