GTA-Based Credit Union Meets International Social Sustainability Standards By Integrating Social Responsibility Principles Into All Products, Practices and Profits
TORONTO, Oct. 13, 2015 /CNW/ - DUCA Financial Services Credit Union which serves the Greater Toronto Area (GTA), is Canada's first-ever credit union to achieve B-Corporation (B-Corp) Certification from B Lab, a not-for-profit, global organization that aims to redefine business success to include corporate social responsibility.
To achieve B-Corporation (B-Corp) Certification, DUCA met rigorous standards of social and environmental performance, accountability and transparency. The assessment includes benchmarking against dozens of established best practices regarding employee, community and environmental impact.
Companies must achieve an overall B Impact Assessment score of 80 points to be eligible for certification. DUCA scored 92.8 points. Most businesses achieve a score of 51 points.
"We are proud to be Canada's first credit union to become B-Corp certified," said DUCA's President and CEO Richard Senechal. "The achievement underlines DUCA's core values of putting people before profits and empowering our Members do more, be more and achieve more."
Being a B-Corp means becoming part of a global movement with a vision of a better way to do business by encouraging businesses, corporations and not-for-profits to have a positive impact. There are currently 1,366 B-Corps in 41 countries across 121 industries. In Canada 140 organizations have been awarded B-Corporations certification.
"B-Corps improve the quality of life in our communities by creating value of society, not just shareholders. With certification, DUCA is joining an elite community that's driving real, tangible change that creates economic opportunity, solves environmental challenges and empowers individuals," said Joyce Sou, Director of B Lab Canada. "We welcome and congratulate the DUCA team on this achievement."
DUCA is a fast emerging social responsibility leader. Earlier this year it was the first Toronto based employer to guarantee all employees a living wage of at least $18.52 per hour, well above the minimum wage of $11.25. This is one example of how its approach to doing business – called Fair Trade Banking – can contribute to society, both financially and socially.
For complete details on DUCA's B- Corp Certification and what it means for the community, visit DUCA.com
DUCA was formed in 1954 and has grown from a single branch credit union in Toronto to 15 branches across Southern Ontario and nearly 50,000 Members.
DUCA Financial Services Credit Union Ltd. (DUCA) provides innovative Co-Operative Banking as an attractive alternative to traditional banking institutions. Designed for Canadians who want Fair Trade banking™ - simple, low-cost community banking for people who care about their world, their community, and making a difference. With high interest savings and low-cost loans, DUCA exists to help people do more, be more, and achieve more with their money and their lives. To find out how, visit; www.DUCA.com.
About B Lab:
B Lab is a non-profit organization that serves a global movement of people using business as a force for good. Its vision is that one day all companies compete not only to be the best in the world, but the best for the world and society will enjoy prosperity for all for the long term.
B Lab drives this systemic change by: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between "good companies" and good marketing; 2) passing benefit corporation legislation to give business leaders the freedom to create value for society as well as shareholders; 3) helping businesses measure, compare and improve their social and environmental performance with the free B Impact Assessment; 4) driving capital to impact investments through use of its B Analytics and GIIRS Ratings platform.
For more information, visit www.bcorporation.net.
Image with caption: "DUCA (CNW Group/DUCA)". Image available at: http://photos.newswire.ca/images/download/20151013_C6924_PHOTO_EN_516050.jpg
For further information: Abby Radovski, Consultant, Thornley Fallis Communications, (416) 515-7517 ext 328, [email protected]