OMISTA Credit Union

Certified B Corporation
Headquarters

New Brunswick, Canada

Certified Since

February 2016

Industry

Deposit bank - Developed Markets

Sector

Service with Minor Environmental Footprint

Operates In

Canada

OMISTA Credit Union exists to provide A Better Way To Bank – one that operates with the best interests of their customers and community in mind. OMISTA’s products and services are designed for New Brunswickers who want full-service, holistic banking and who care about making the place they live even better. Credit Unions are unique from other financial institutions in that they are not owned by shareholders; they are owned by customers. While each Credit Union is independent and locally controlled by its customers, all Credit Unions share a common bond – to improve the wealth of the people and communities they serve. The goal at OMISTA is to have a positive impact on our stakeholders through the business they do. They truly believe business can be a force for good! They are committed to enhancing their communities through economic, social and environmental objectives. They do this by keeping more money in the pockets of their customers; helping communities prosper; putting people before profits; and partnering for public policy solutions. This means their profits have a higher purpose – to benefit the people they serve, their customers.

Overall B Impact Score

Based on the B Impact assessment, OMISTA Credit Union earned an overall score of 100.4. The median score for ordinary businesses who complete the assessment is currently 50.9.
100.4
100.4 Overall B Impact Score
80 Qualifies for B Corp Certification
50.9 Median Score for Ordinary Businesses

Governance 19.6

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 & Engagement2.1
Corporate Accountability1.7
Ethics2.0
Transparency6.3
+ Mission Locked7.5

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 36.4

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.

Compensation & Wages7.4
Benefits14.7
Training & Education1.3
Worker Ownership0.0
Management & Worker Communication2.9
Job Flexibility/Corporate Culture2.0

Community 25.0

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.

Job Creation1.0
Diversity & Inclusion5.4
Civic Engagement & Giving6.6
Local Involvement9.0
Suppliers, Distributors & Product2.0

Environment 4.3

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.

Land, Office, Plant2.0
Inputs0.9
Outputs0.9
+ 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 14.7

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.

+ Portfolio Reporting0
+ Targeted for Investment4
+ Leadership & Outreach0.5
+ Investment Criteria2.3
+ Portfolio Management5.7
+ Serving in Need Populations0.9

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

2018 Overall B Impact Score100.4
2016 Overall B Impact Score91.2

Best for the World

Every year, B Lab recognizes the B Corps that have achieved the highest verified scores in the five impact areas evaluated on the B Impact Assessment.

Best For The World: Governance2018
Best For The World: Governance2017

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