B Corp

We are one of only 58 banks in the world to be a Certified B Corp¹, meaning we are part of the global movement for an inclusive, equitable, and regenerative economy. 

What B Corp Certification means

B Corp Certification is achieved by meeting high standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. It is one of the few certifications that measures a company’s holistic social and environmental performance.

Certifying as a B Corporation goes beyond product- or service-level certification. B Corp Certification measures standards, through the B Impact Score covering the entire bank’s performance across five pillars of customers, governance, environment, workers, and community, by third-party verification.

There are approximately 9,400 B Corps globally, just over 750² of these are Australian and New Zealand companies, and eight are Australian mutual banks³.

B Corp Certification is important our members

Certified B Corporations are required to implement legal governance to demonstrate that a company is not only committed and accountable to creating lasting value for all stakeholders but is credibly using their business as a force for good. For our bank this required us to ask our members to approve an amendment to our Constitution to reflect our B Corp status and affirm our commitment to be a force for good for our members and the planet. In November 2022, we asked our members to vote on this proposed Constitution amendment, which was successfully carried with a positive vote of 91.4%. 

Recertification as a B Corp 

B Corp Certification is for three years, after which time a company must recertify. This is because, according to B Lab, ‘impact’ is neither a destination to be reached nor a box to be ticked, but a commitment to continuous improvement. 

We are currently undergoing recertification with B Lab for 2025 – 2028, where we aim to improve our overall performance score of 102.4 in January 2022⁴, which is above the Australia and Aotearoa New Zealand B Corp average score of 96⁵.

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1. 58 is correct as of 28 January 2025. Deposit Bank – Developed Capital Markets as defined on bcorporation.net

2. Correct as of 28 January 2025. What is a B Corp? | B Lab Australia & Aotearoa New Zealand

3. Other Australian mutuals listed on B Corp website: Great Southern Bank, People’s Choice CU (2022 #1) (People’s First Bank), Australian Mutual Bank, BankVic, Summerland Bank, Bank Australia, and Beyond Bank. 

4. https://www.bcorporation.net/en-us/find-a-b-corp/company/teachers-mutual-bank-limited

5. Source: https://bcorporation.com.au/blog/unpacking-the-b-impact-score/, Unpacking the ‘B Impact Score’ – what it is and why is matters, 6 July 2022, accessed 30 January 2025