MONCTON–OMISTA Credit Union has announced it has received its B Corporation certification, the first credit union in New Brunswick to do so.
“As a financial cooperative that is focused on doing business by investing in each other, we are excited to announce that OMISTA Credit Union is the first credit union in New Brunswick to become a certified B Corporation,” CEO Richard Vaillancourt said.
B Corp certified companies must meet socially and environmentally responsible standards of business to qualify for and keep their certifications from B Lab, a nonprofit organization that serves a global movement of people using business as a force for good.
“It is inspiring to see the movement of credit unions, who have led the way in values-led banking, join this growing movement of Certified B Corps,” B Lab Canada director Joyce Sou said. “OMISTA set the example for others to use business as a force for good by measuring and reporting on the things that truly matter.”
In a release, OMISTA Credit Union said they chose to become B Corp certified because of the belief that business should have a higher social purpose beyond profit and said they are now part of a global movement of business leaders that seek to redefine success in business.
“OMISTA has long understood the importance of social responsibility, which can be demonstrated through many of our practices,” said OMISTA marketing manager Trisha Leaver. “We are the only New Brunswick provider of micro loans to Canadian newcomers for costs associated with obtaining Canadianized version of their professional certifications.”
OMISTA Credit Union joins the ranks of a growing community of more than 1600 certified B Corps from 47 countries and over 120 industries, including existing B Corps in New Brunswick such as Adams Green, BBoards.org, Hemmings House, Picaroons, Symplicity Designs and Wicked Ideas Media.