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Lewiston, Maine — Four years ago, Androscoggin Bank took a bold step to reclaim its longstanding legacy as a mission-driven, values-based company by joining the B Corporation (B Corp) movement. As one of only 16 B Corp banks in the United States, this move was a natural evolution for a Bank whose DNA has been woven from decades of caring for clients, colleagues, communities, and the environment.
Today, Androscoggin Bank is proud to announce it has successfully achieved B Corp™ recertification, reaffirming its commitment to using business as a force for good. After a rigorous assessment by B Lab, the nonprofit that certifies B Corporations™, the Bank’s impact score increased from 91.1 to 117.6, a 29% improvement that far exceeds the 9% average increase for B Corp banks in their first recertification cycle.
“While we are excited and proud of our new score, I’m inspired by the way we achieved these results,” said Chris Lyon, Director of Corporate Impact. “We’ve made human-centered decisions that provide benefit and value to all of our stakeholders. This recertification verifies that our mission is alive in every part of our work.”
Since becoming a B Corp in 2021, Androscoggin Bank has been on a continuous journey to create deeper, more meaningful impact. Behind it all is a team of passionate, purpose-driven individuals always looking for the next “first.”
Key long-term achievements since certification include:
● First bank headquartered in Maine to embed mission into its legal framework as a Benefit Corporation.
● 100% renewable energy powering branches and operations centers.
● Expanded benefits, professional development, and workplace satisfaction programs.
● 63% reduction in fossil fuel-based energy usage since 2021.
● Partnered with ReVision Energy to develop a solar project and separately installed LED lighting across all locations—cutting 1 million pounds of CO₂ and 106,000 kWh annually.
● Launch of the Sustainable Impact Program, linking client deposits to loans that align with the UN Sustainable Development Goals.
● Introduction of the Islamic Home Financing Alternative, a program recognized by BBC and CNBC.
2024 Highlights:
● Contributed $401,521 in sponsorships, grants, and charitable donations—$558,121 including the value of volunteer time.
● Logged 4,950 volunteer hours, representing 1.2% of total employee work hours, with 79.1% of employees volunteering.
● Maintained 100% participation in a bank-wide waste reduction program across all locations.
“This certification is more than a label—it’s a verified commitment to creating a better world for our clients, employees, and communities,” said CEO, Neil Kiely. “We will continue to innovate, lead, and deepen our impact.”
For Androscoggin Bank, real impact isn’t measured over quarters, it is measured over years and lifetimes. That means never standing still. It means putting people, communities, and the planet at the center of every decision. And it means staying true to the idea that banking should always be a force for good.
To learn more about Androscoggin Bank’s B Corp journey and view its full impact report, visit androscogginbank.com/b-corp.
About Androscoggin Bank:
Headquartered in Lewiston, Maine, Androscoggin Bank has been independent for 154 years. In 2021, the Bank became a Certified B Corporation™, joining only a handful other banks nationally to meet the highest standards of verified social and environmental performance, public transparency and legal accountability. The team at Androscoggin is eager to empower Maine’s business owners to improve their financial lives and continue to fuel economic growth for the state. To further this work, the Bank has recently launched a Sustainable Impact Program, designed to direct deposits to support lending in key areas that align with the United Nations Sustainable Development Goals. Androscoggin Bank is Member FDIC.
