This March, we celebrate one of our proudest accomplishments: joining the B Corp movement. In 2016, we became the first B Corp-certified bank in New York State, and today, we remain among the highest-rated B Corp banks in the country. 

The B Corp movement is built on the idea that business can be a force for good, meeting the needs of customers and communities while also achieving business goals. We’ve learned that real progress requires partnerships. For us, that has always meant showing up alongside the nonprofits, community organizations, and underserved communities that traditional banks have historically left behind.

Banking Where It’s Needed Most

Founded in 2007 in the South Bronx as the only bank to establish its base in the borough in over a quarter century, we set out to work in neighborhoods where high-cost check cashing and predatory lending were unfortunately the norm. 19 years later, our mission hasn’t changed. We continue to lead on our promise of community-first banking and are especially driven by our B Corp values. 

Most recently, we opened a new branch in Red Hook, Brooklyn, a neighborhood that had long been underserved by traditional financial institutions. Without a local bank for over a decade, residents and small businesses were forced to travel outside the neighborhood for every transaction or spend money on high-cost alternative financial services. Since opening the branch over a year ago, we’ve established partnerships with local organizations, including the Red Hook Initiative and Red Hook Art Project, and are working to build relations with the Red Hook community. 

Products and Partnerships That Move Our Communities Forward

Another way we put our B Corp values into action is by creating community-inspired products, like our Credit Builder Loan and Nonprofit Banking Program, that support the day-to-day financial health of all New Yorkers.

From fee-free nonprofit checking accounts and flexible working capital lines of credit to small business loans built for borrowers traditional banks turn away, every product we offer is intentionally designed. We know that a nonprofit waiting on a government contract reimbursement can’t afford to wait on their bank, too. We know that a delivery worker without a credit history still deserves access to a safe, reliable bike. So, we build our products accordingly.

Our GoGreen Cycle Loan especially embodies what it means to be a B Corp. Offered in partnership with local bike shops across the city, it provides affordable e-bike financing with no credit score requirement, making sustainable transportation accessible to the workers who need it most. How’d we get it done? Once again, thanks to our local nonprofit partnerships. As a founding member and board member of The E-Mobility Project (TEMP), a nonprofit working to advance mobility options and sustainability in New York City, we worked together to design and launch the GoGreen Cycle Loan, which was the first of its kind! 

The B Corp movement asks businesses to consider their impact on every stakeholder, including workers, communities, and the environment, and our work is a direct expression of that. We’ve spent nearly 20 years building relationships with mission-driven organizations across New York City that are doing the hard, essential work of keeping communities afloat. We’ve also supported – and continue to support – nonprofits, small businesses, and everyday New Yorkers with the financial tools they need to carry out essential daily tasks. 

So, whether you need a small business checking account, a personal checking account, or personal or business financing, we’ve got you covered with products that are community-focused and backed by our B Corp values. 

The B Is Just the Beginning

We’ve always understood that our B Corp certification isn’t a finish line, but a framework for continuous improvement, and one we hold ourselves to every single day. Here’s to many more years of community-first banking and to everything still ahead! Thank you for being part of our journey. 

Ready to bank with a purpose? Explore our personal and business banking options or learn more about our nonprofit banking program. You can also visit our B Corp profile to learn more about what our certification means and the standards we’re committed to upholding.