The Co-operative Bank is the only bank in Aotearoa New Zealand to be 100% owned by their customers. It was established in 1928 with the idea of giving back and sharing profits with the customers that helped build it. The bank’s main purpose is ‘to create prosperity for their customers, rather than to create profit for anyone else.’
Since 1928 we’ve been a customer-owned bank with a clear purpose. As a co-operative, our
customers, our people and our communities are at the heart of what we do, and we’ve made it our
mission to do right by people. We’re stoked to have achieved this certification because we truly care
about the environment that we work, live and play in.
Why did you want to become a Certified B Corporation?
We’re extremely proud to announce that we’ve become a Certified B Corp. Being a B Corp is all
about balancing purpose with profit, which aligns perfectly with our Co-operative DNA. Even more
exciting is that we’re the first New Zealand Bank to join the movement and we’re excited to help
drive a new way of doing business.
What makes The Co-operative Bank unique as a business? Tell us some of the areas where you have the biggest impact, or some of the little changes you’ve made to make a difference.
Some of the good stuff we do already includes running a waste reduction program, measuring our
carbon footprint, giving back to charities, being living wage accredited and we are one of the only
banks in New Zealand who don’t invest in fossil fuels. Our co-operative model, and the gender diversity of our Board and Senior Leadership Team are also strengths in the way we run our business. We are excited to start our journey to keep improving and doing even better.
Do you have any tips for aspiring B Corps about the certification process?
A passion for good business and a committed leadership team are definitely a must-have. The Senior
Leadership team had hands-on involvement from start to finish in the certification process and
champion our commitment throughout their day to day business, from planting trees with our
people to driving policy change.
A big congratulations to The Co-operative Bank for achieving B Corp certification!