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What is a B Corp?
Demonstrate high social
and environmental
performance by achieving a
B Impact Assessment score
of 80 or above and passing
a risk review.
Make a legal commitment by
changing their corporate
governance structure to be
accountable to all stakeholders,
not just shareholders, and
achieve benefit corporation
status if available in their
jurisdiction.
Exhibit transparency by
allowing information about
their performance measured
against B Lab’s standards to be
publicly available on their B
Corp profile on B Lab’s website.
Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing a risk review.
Make a legal commitment by changing their corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in their jurisdiction.
Exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.
Best for The World
Spring Bank is New York’s first B Corp Bank with a current rating of 161.2. You can read details about our score here. We are proud to have received the designation of “Best for the World” in 2022, for the 5th year in a row, in two categories: Customers and Governance.
This means that we are amongst the top 5% of B Corps in our ratings in these categories.
Is your Bank a B Corp?
Certified B Corporations are businesses that balance purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. The B Corp community of companies are driving a global movement of people using business as a force for good. All B Corps are given a score by the independent third-party B Lab. You can find B Corps and their scores at:
https://bcorporation.net/directory.
Spring Bank is New York’s first B Corp Bank with a current rating of 161.2. You can read details about our score here. We are proud to have received the designation of “Best for the World” in 2022 in two categories: Customers and Governance. This means that we are amongst the top 5% of B Corps in our ratings in these categories.
Is your Bank a B Corp?
Certified B Corporations are businesses that balance purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. The B Corp community of companies are driving a global movement of people using business as a force for good. All B Corps are given a score by the independent third-party B-Lab. You can find B Corps and their scores at:
https://bcorporation.net/directory.
Spring Bank is New York’s first B Corp Bank with a current rating of 136.2. You can read details about our score here. We are proud to have received the designation of “Best for the World” in 2021 in two categories: Customers and Governance. This means that we are amongst the top 10% of B Corps in our ratings in these categories.
What is your bank’s
Community Reinvestment
Act (CRA) rating
Start by looking at your bank’s publicly available CRA rating. The CRA legislation was passed in 1977 to prevent the practice of redlining and to minimize systemic financial exclusion.
You can read more about CRA at https://www.frbatlanta.org and find the CRA rating of your bank or any bank in the USA at https://www.ffiec.gov.
In December 2018 Spring Bank received the highest available CRA rating from the FDIC – “Outstanding.”
What is your bank’s
Community Reinvestment
Act (CRA) rating
Start by looking at your bank’s publicly available CRA rating. The CRA legislation was passed in 1977 to prevent the practice of redlining and to minimize systemic financial exclusion.
You can read more about CRA at:
https://www.frbatlanta.org and find the CRA rating of your bank or any bank in the USA at: https://www.ffiec.gov.
In December 2018 Spring Bank received the highest available CRA rating from the FDIC – “Outstanding.”
Is your bank a US Treasury Certified
Community Development
Financial Institution (CDFI)?
Since 1994 the United States Treasury has certified a singular number of banks as Community Development Financial Institutions (CDFIs) based on their use of deposits to provide low- and moderate-income communities the credit they need. If your bank is a designated CDFI, you can be certain that your money is being lent to the communities that need capital the most. Find a CDFI bank in your community at: https://ofn.org/cdfi-locator.
Spring Bank was designated a CDFI in 2014 and has received numerous awards and recognition from the CDFI fund.
Is your bank green?
When you bank with us, you can rest assured that your banking experience is carbon emission-free. We have been certified carbon neutral since 2018, and have also pledged with Bank for Good and Bank.Green to not fund or invest in fossil fuel extraction. We regularly support local nonprofits such as the Bronx River Alliance that work towards the restoration of the Bronx River.
Schedule an Appointment
Ready to grow with us? Come in and talk to one of our account managers to see how we can help. You can open a checking account, apply for a loan, open an IRA account and much more. Use the form below to schedule an appointment:
Have any questions? Stop by a branch or call us at (718) 879-5000.
Our Promise
We don’t take it lightly that you trust us with your money. In fact, the best part about working here is getting to know our customers and their families. You’ll soon find out that you are far from a number here. On the contrary, you become part of the Spring Bank Family. We can’t wait to get to know you.
