B Corp

Our innovative business model leads the way.

Virginia Community Capital is structured as both a non-profit Community Development Financial Institution (CDFI) and a for-profit bank, VCC Bank. As a CDFI, we are able to provide credit and financial services to people, businesses, and communities not served by mainstream lenders.

VCC Bank is a certified B Corp. Every two years, Virginia Community Capital undergoes a thorough examination to assess our impact in the following areas:

  • Governance
  • Workers
  • Community
  • Environment
  • Products & Services

This assessment is used to ensure VCC is meeting the highest standards of verified social and environmental performance, public transparency, and legal accountability. In 2017, VCC was honored with a Best for the World B Corp, having earned an overall score in the top 10% of all Certified B Corps.

VCC Bank is also the first regulated bank in the US to earn the designation of a Benefit Corporation, setting a new model for the financial industry. With this corporate structure, instead of shareholders looking for a quarterly dividend, the bank has a non-profit owner whose mission is to create jobs, vibrant places, and enhance the quality of life in communities throughout the Commonwealth.

Terminology

Certified B Corp

  • A certification conferred by the non-profit B Lab
  • A company that meets a high level of social and environmental performance, with a commitment to consider all stakeholders
  • Any for-profit company in any country can pursue certification (LLCs included)

Benefit Corporation

  • A corporate form (taxed like a C Corp or an S Corp) that has a higher level of transparency, accountability and purpose
  • A legal entity that has protection and permission to consider its impact on all stakeholders, not just shareholders
  • Available in 31 states in the U.S.

Other B Corps we have worked with…

Acorn Sign Graphics

Hamilton Perkins

Impact Makers

Rivanna Natural Designs

Secure Futures