Mascoma Bank has a long history of commitment to both its employees and its communities, and this commitment continues to grow with time. And now, these efforts are being recognized.
In June, Mascoma Bank was included in the Best For The World Overall list published by the nonprofit B Lab. This list includes businesses that earned scores in the top 10 percent of more than 2,400 Certified B Corporations across all categories on the B Impact Assessment.
To certify as B Corporations, companies like Mascoma Bank must complete the full assessment and have their answers verified by B Lab. This assessment evaluates a company’s environmental performance, employee relationships, diversity, involvement in the local community, the impact a company’s product or service has on those it serves, and more. Honorees scoring in the top 10 percent of all B Corporations set a gold standard for companies using business as a force for good. Mascoma Bank made the list thanks to exceptional practices such as a unique incentive program available to all employees, a formalized wellness program, and paid volunteer time off.
This was Mascoma Bank’s first time being assessed by B Lab, and the experience has been eye-opening and inspiring. It’s gratifying to see that much of the work we do now is well-aligned with the goals and ideals of B Lab. At the same time, we greatly appreciate the opportunity to see the direction and distance we need to go to keep our Mascoma family thriving.
A total of 932 Certified B Corporations were named 2018 Best For The World Honorees, including Patagonia, King Arthur Flour Company, Green Mountain Power, and the United Kingdom’s Charity Bank. Fifty-two countries are represented, including Denmark, India, South Africa and Taiwan. You can see the selection criteria for Best for the World honorees here.
“With the rise of anger at a system that feels rigged, people are hungry for companies like Mascoma Bank, who are changing the system by building businesses that seek to create the greatest positive impact,” says Jay Coen Gilbert, co-founder of B Lab. “Best For The World is the only list of businesses that uses comprehensive, comparable, third-party-validated data about a company’s social and environmental performance. As consumers, talent, and investors increasingly demand transparent, values-aligned businesses to buy from, work at, and invest in, companies will need to be not just the best in the world but the best for the world.”