Certified B Corporation®
Sunrise is a certified B Corp! B Corps use the power of business to solve social and environmental problems. In order to gain certification, companies must demonstrate responsible corporate governance, environmental stewardship, and accountability to their community. B Corps are accountable to all stakeholders including the community, customers, vendors, and the environment. Learn more about B Corps.
Certified Community Development Financial Institution
Sunrise is also a certified Community Development Financial Institution (CDFI). This certification, conferred by an agency under the U.S. Department of Treasury, is held by approximately 100 banks in the U.S. Sunrise is the only CDFI Bank in Minnesota.
Global Alliance for Banking on Values
Sunrise is a member of the Global Alliance for Banking on Values (GABV). GABV is an independent network of banks using finance to deliver sustainable economic, social and environmental development.
Public Benefit Corporation
In 2015, Minnesota enabled new legislation to allow for Public Benefit Corporations, a new form of business incorporation for for-profit socially-minded businesses.
A benefit corporation is a corporation that has voluntarily met the highest standards of corporate purpose, accountability, and transparency. Benefit corporations have a corporate purpose to create a material positive impact on society and the environment, have expanded the fiduciary duty of their directors to include consideration of stakeholder interests, and are required to report on their overall social and environmental performance.
Sunrise Banks’ holding company, University Financial Corp, GBC became a Public Benefit Corporation on January 2, 2015, the date it was first legal in Minnesota.
The Public Benefit Corporation status isn’t just a bragging right, it requires intention, vigilance, and commitment to the bank’s mission and creating public good. Transparency is also one of the major components of the PBC legislation and something that Sunrise takes very seriously. Sunrise highlights its efforts and results in an Annual Benefit Report. This reports shares the results related to community, worker, customer, and environmental impact, as well as governance.
Learn more about the benefit corporation movement.