Still a Banking Force for Good
Four years ago, we reaffirmed our longstanding legacy as a mission-driven, values-based company by joining the B Corporation™ (B Corp) movement. As one of only 16 B Corp banks in the entire United States, this was a bold step, but not an unfamiliar one.
For more than 150 years, the threads of our DNA have been woven from caring for clients, colleagues, communities, and the environment. From helping generations of New Mainers build their futures, to supporting our communities through economic ebbs and flows, to protecting the natural beauty of our state—we’ve always believed banking should make life better. Becoming a B Corp wasn’t about changing course. It was about raising the bar, holding ourselves accountable, and committing to growth.
Today, we are extremely proud to announce that we have successfully achieved B Corp recertification, renewing our commitment to using business as a force for good. After a rigorous assessment process by B Lab—the nonprofit that certifies B Corporations™—our impact score increased from 91.1 to 117.6, a 29% improvement that far exceeds the 9% average increase for B Corp banks in their first recertification cycle.
“While we are excited and proud of our new score, I’m most inspired by how we got here,” said Chris Lyon, Director of Corporate Impact. “We’ve made human-centered decisions that benefit all of our stakeholders. This recertification proves our mission is alive in every part of our work.”
What are Benefit Corporations and Certified B Corps? What is the difference?
A Benefit Corporation in Maine is a for-profit company that commits to creating a public benefit in addition to generating profit. By law, Benefit Corporations must consider the impact of their decisions on all stakeholders—workers, communities, clients, and the environment.
To ensure this impact isn’t just a promise on paper, Benefit Corporations are also required to use a third-party standard to measure and verify their performance. That’s where Certified B Corporation™ status comes in. Certification by B Lab provides the independent verification that a company is truly meeting the highest standards of social and environmental accountability.
In other words:
- Becoming a Benefit Corporation locks our mission into our legal framework.
- Becoming a Certified B Corporation™ proves—through measurable standards—that we are living up to that mission every day.
For Androscoggin Bank, this dual commitment is a legal and verifiable promise: we aim to do good, and we hold ourselves accountable to make sure we actually do. It also signals to our business partners, clients, and communities that your money is not only in safe hands, but caring ones as well.
How Recertification Works
B Corp certification isn’t permanent. Every three years, companies must recertify, proving that they are continuing to meet the ever-improving standards of B Lab. For us, this first recertification took nearly two years of deep evaluation, examining every facet of our operations.
The outcome: a stronger score and stronger proof of impact.
Key Achievements Since 2021
- Became the first bank in Maine to embed mission into our legal framework as a Benefit Corporation.
- Transitioned to 100% renewable energy for branches and operations centers.
- Reduced fossil fuel-based energy use by 63% since 2021.
- Partnered with ReVision Energy to develop a solar project and separately installed LED lighting across all locations—cutting 1 million pounds of CO₂ and 106,000 kWh
- Expanded benefits, professional development, and workplace satisfaction programs.
- Launched the Sustainable Impact Program, linking client deposits to loans that align with the UN Sustainable Development Goals.
- Introduced our Islamic Home Financing Alternative, a program that has since received recognition from BBC and CNBC.
What’s Next?
“This certification is more than a label—it’s a promise,” said Neil Kiely, President & CEO. “We will keep pushing ourselves to innovate, to lead, and to deepen our impact for clients, employees, and communities.”
The work doesn’t end here. Our next recertification in 2028 is already on the horizon, and we’re aiming even higher.
But the truth is, real impact isn’t measured over quarters, it is measured over years and lifetimes. That means never standing still. It means 200 employees looking for the next “first.” It means putting people, communities, and the planet at the center of every decision. And it means staying true to the idea that banking should always be a force for good.
Luckily for us, that just means business as usual.
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