VCC Bank

Certified B Corporation
Headquarters

Virginia, United States

Certified Since

May 2012

Industry

Deposit bank - Developed Markets

Sector

Service with Minor Environmental Footprint

Operates In

United States

Virginia Community Capital has a mission to support community development ventures, create jobs, and build sustainable communities by providing flexible financing and advisory services in underserved markets and for low- to moderate-income people. Their focus is primarily in affordable housing, small business, mixed use development, community facilities, solar energy financing, and commercial real estate. VCC was established in 2006 as a Community Development Financial Institution (CDFI) with an initial $15 million investment under Governor Mark R. Warner. The goal was to leverage that initial investment for an economic return to underserved areas. More than $2.4 million was originated across our first seven real estate development loans. Since then? Growth, expansion and partnership. Through the power of partnerships and leverage, they have turned that $15 million seed investment into over $1.2 billion of impact in Virginia. Over the years, VCC has become known for its ability to combine the resources of national, state, and local social investors into successfully funded projects. They are, many times, the “first in” on projects designed to positively impact their community. And they’re just getting started. Let’s do more, together.

Overall B Impact Score

Based on the B Impact assessment, VCC Bank earned an overall score of 149.3. The median score for ordinary businesses who complete the assessment is currently 50.9.
149.3
149.3 Overall B Impact Score
80 Qualifies for B Corp Certification
50.9 Median Score for Ordinary Businesses

Governance 23.9

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 & Engagement3.7
Corporate Accountability1.7
Ethics1.8
Transparency6.6
+ Mission Locked10

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 21.3

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 & Wages6.5
Benefits9.1
Training & Education1.5
Worker Ownership0.0
Management & Worker Communication2.2
Job Flexibility/Corporate Culture2.0

Community 44.3

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 & Inclusion6.1
Civic Engagement & Giving7.4
Local Involvement9.5
Suppliers, Distributors & Product4.0
+ Local Economic Development0
+ Designed to Give16.1

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 5.4

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, Plant3.2
Inputs0.7
Outputs0.7
+ Environment Products & Services Introduction0
+ Green Lending0.7

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 54.2

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 Reporting2.2
+ Targeted for Investment6
+ Leadership & Outreach3.8
+ Investment Criteria3.2
+ Portfolio Management7.5
+ Serving in Need Populations30

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 Score149.3
2016 Overall B Impact Score159.9
2014 Overall B Impact Score156
2012 Overall B Impact Score118

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: Customers2019
Best For The World: Governance2019
Best For The World: Overall2019
Best For The World: Changemakers2018
Best For The World: Community2018
Best For The World: Customers2018
Best For The World: Overall2018
Best For The World: Changemakers2017
Best For The World: Community2017
Best For The World: Customers2017
Best For The World: Overall2017
Best For The World: Community2016
Best For The World: Overall2016
Best For The World: Community2015
Best For The World: Overall2015
Best For The World: Community2014
Best For The World: Community2013
Best For The World: Community2012
Best For The World: Overall2012

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