We were B Corp before B Corp was big

Charity Bank was the sixth UK business and first bank in Europe to become a B Corp. Discover our B Corp story and savings with purpose.

Today, B Corp is one of the world’s best-known movements for responsible business. 

But when Charity Bank joined, things looked rather different. 

In 2015, we became the sixth UK business to achieve B Corp certification and the first bank in Europe to do so.  

We became a B Corp because its principles closely reflected the reason Charity Bank already existed: to use money to create positive social impact. 

More than a decade later, the UK B Corp community has grown to more than 3,000 businesses.  

We’re proud to have been there near the beginning. 

More than a badge 

Becoming a B Corp gave Charity Bank independent validation of our approach to social impact, sustainable practice and responsible business.  

At our last recertification under the previous B Corp standards, our B Impact Score increased from 128.7 to 134.4, compared with a certification threshold of 80 under that system.  

B Corp certification itself is now changing. B Lab’s new standards move away from cumulative point scoring and require businesses to meet minimum requirements across seven Impact Topics, including climate action, fair work, human rights and environmental stewardship.  

But one thing has not changed for Charity Bank: our belief that finance can be used as a force for good. 

What does your money do when you’re not using it? 

Banking can sometimes be overlooked when businesses consider their wider impact. 

Yet money held on deposit does not simply sit in a vault. Banks use deposits as part of their funding, including to support lending. 

At Charity Bank, we use the money entrusted to us by savers to provide loans to charities, social enterprises and other social purpose organisations across the UK. Since 2002, we have made more than 1,480 loans totalling over £653 million.  

That creates a simple question for any purpose led business: 

 Does where you keep your money reflect the values behind your business? 

For B Corps in particular, it is worth considering alongside the other choices you make about your organisation, its relationships and its impact. 

A natural fit for B Corps 

Charity Bank has something important in common with the B Corp businesses that choose to save with us: we’re a B Corp too. 

We understand why purpose matters because it has shaped our own business from the beginning. 

For organisations reviewing their banking arrangements, we believe the questions should go beyond rate alone: 

• Where does our bank put its money? 
• What does it finance? 
• What won’t it finance? 
• Is purpose embedded in the organisation itself? 
• Does the relationship fit with our own values and approach to responsible business? 

These are considerations rather than a claim about B Corp certification. Under B Lab’s current model, certification is assessed against its defined standards and Impact Topics.  

Supporting businesses on their B Corp journey 

We also want this information to be useful to the advisers, consultants and networks supporting businesses through B Corp certification and ongoing improvement. 

Banking is one of the relationships an organisation may wish to review as it considers how consistently its purpose and values are reflected across the business. 

For businesses exploring their options, Charity Bank offers an unusual combination: a certified B Corp bank whose core purpose is to use money to support positive social change. 

Whether you are already a B Corp, working towards certification, or simply looking more closely at the impact of your money, we would be delighted to be part of the conversation. 

Put your money where your values are 

If you’re considering where to hold your organisation’s cash or reserves, find out more about Charity Bank savings for businesses. 

And B Corp values do not have to stop at the office door. Individuals who want to consider where their own savings are held can explore our savings accounts for personal savers too: Explore personal savings.

If you’re already a B Corp and want to think more deeply about the relationship between your organisation’s purpose and its reserves, read our companion article: Your business is a force for good. What about your savings?