B the Change Weekly: November 8, 2019
Delivered on Fridays, B the Change Weekly delivers the most important and most relevant stories about people using business as a force for good. The newsletter features a weekly note from the B the Change team alongside insight and context on the stories we share here on Medium. Below is our latest roundup. To receive these insights directly in your inbox, sign up for B the Change Weekly today. Now on to the good stuff:
Are you banking on the future or investing in the status quo?
With each deposit, we trust our banks with our money — and they decide where to share those dollars through loans, investments and other financial uses. By choosing to work with a bank that is building a better world through the organizations and causes it funds and supports, your deposits serve as an everyday vote for a more inclusive economy that serves us all.
Certified B Corporations in the banking industry invest in a brighter future by providing loans, savings accounts and other inclusive financial services that strengthen and support their partners, customers and communities. This week, we take a look at how your money-management decisions can create ripples of positive impact.
Putting Dollars to Work for a Better Future
B Corp Amalgamated Bank was founded nearly a century ago with a clear objective in mind: to bring banking access — once reserved for corporations and wealthy individuals — to hardworking men, women and their families. Since then, Amalgamated has continued to build social responsibility into its business model, amassing nearly $5 billion in assets and growing to serve customers and clients sharing its purpose-driven mission.
Creating a Financial Foundation
With its headquarters in the South Bronx, B Corp Spring Bank focuses on serving underserved consumers and small businesses in the New York City area to help them break debt cycles and build wealth. About two years ago, Spring Bank began partnering with businesses for its Employee Opportunity Loan program, which provides workers with an alternative to payday loans and other high-interest financial options.
Banking on the B Corp Movement
The Business Development Bank of Canada (BDC) provides loans, investments and advisory services for Canada’s entrepreneurs. For BDC, supporting B Corps flows from this purpose and is a sure investment. Craig Ryan, BDC’s director of social entrepreneurship, says: “The B Corp certification assessment is comprehensive and bracing. … We see that B Corp companies are as profitable and resilient as traditional companies.”
Stay in the Know
Here’s your chance to catch up on all the good stuff we shared this week:
- How B Corp Banks Are Building a Better World: Vote Every Day With Your Financial Institution
- A Rising Tide of Ocean Optimism: Purpose-Driven Businesses Are Acting on Climate Concerns and Creating Hope for the Future
- How to Overcome the Unique Challenges of Conscious Business: Consider What’s Keeping You from Your Goals — and What to Do About It
- Accelerating Industrywide Action on Sustainable Tourism: B Corp Better Places Builds on Travel Offsets Program
- Mission-Driven Success: How to Improve Work/Life Balance and Better the World Through Business: Lunapads and Nestworks Founder Helps Fellow Social Innovators Make an Impact
- Building the Youth Movement for Climate Justice: As Part of Youth vs. Apocalypse and Sunrise Movement, Isha Clarke Advocates for a Livable Climate and Just World
B the Change gathers and shares the voices from within the movement of people using business as a force for good and the community of Certified B Corporations. The opinions expressed do not necessarily reflect those of the nonprofit B Lab.
Put Your Money to Work for the Greater Good was originally published in B the Change on Medium, where people are continuing the conversation by highlighting and responding to this story.
