Sunrise Banks would like to offer a big congratulations to our fellow Certified B Corporation™, Virginia Community Capital (VCC), on recently becoming the first regulated bank in the United States to become a Benefit Corporation under Virginia state statutes.
VCC originally set on the path to becoming a Benefit Corporation after Sunrise became the first bank holding company Benefit Corporation and the first Benefit Corporation in the state of Minnesota in January of 2015.
Both VCC and Sunrise Banks are part of an international group of companies named, by B Lab, as Certified B Corporations™. Certified B Corporations™ meet the highest standards of verified, overall social and environmental performance, public transparency, and legal accountability
VCC’s conversion was conducted in partnership with B Lab. B Lab’s vision is that one day all companies compete not only to be the best in the world, but the Best for the World® and as a result society will enjoy a more shared and durable prosperity.
Sunrise Banks is happy to align with Virginia Community Capital, who has a similar mission times margin focus as Sunrise. VCC, like Sunrise, supports housing and community development ventures, projects that increase jobs, and they work to build sustainable communities by offering flexible financial products and advisory services.
A few of VCC’s investments include the community revitalization of Floyd Virginia, the expansion of the Essel Propack America plant (Danville, Va.), Pioneer Community Hospital of Patrick (Stuart, Va.), the Masonic Theatre (Clifton Forge, Va.), and the Robert Russa Moton Museum (Farmville, Va.).
Read more about VCC’s conversion to a benefit corporation here.