Some 52% of customers would have more confidence in their building society or bank if they were B Corp certified, new data shows.

A global certification, B Corp is a movement which recognises organisations that put people and planet alongside profit, recognising their ethical business practices, social impact and transparent reporting.

A survey of 2,000 respondents, commissioned by The Cumberland Building Society, reveals insights into customer relationships with their financial providers and their attitudes towards their impact on the wider community.

Over half of banking customers say they’d have more trust in B Corp accredited organisations, the findings suggest customers are looking for their financial provider to have a greater, more positive impact on the community around it.

It is currently B Corp month, this year’s theme, “A Simple Symbol, A Powerful Signal" looks to celebrate the real-world impact of purpose-driven businesses and shine a spotlight on the positive change they create.

Younger generations are most likely to trust their financial provider if it were B Corp certified, with roughly 2 in 3 (67%) of 25-35-year-olds and 3 in 5 (59%) of 18-24-year-olds saying it would increase their confidence.

Among older customers, 55% of 35-44-year-olds and 47% of those over 45 said B Corp accreditation would increase their confidence.

In January this year The Cumberland became the first building society in the North to become B Corp accredited.

Achieving a score of 104.6 throughout the assessment process, The Cumberland sits above the UK company average of 82.8 and sets a benchmark for other businesses in the building society sector to follow, with organisations in the service industry averaging 80.9.

Being recognised for its ethical business practices, social impact and transparent governance, The Cumberland is the largest employer in Cumbria to achieve B Corp status.

Stuart Miller

These results show just how customer expectations are evolving and it’s not just about products and services. People want to know that their bank or building society is making a positive difference in the communities they serve.

With more than half feeling more confident in B Corp-certified financial providers, with that figure rising even higher among younger generations, this shows a clear shift towards purpose-led banking, where trust is built not only through service, but through values and real-world impact.

At The Cumberland that’s exactly what we aim to do, ensuring we support people with their financial needs as well as the communities we’re based in.

Additionally, the survey found almost a third of respondents were unaware of the difference between a building society and bank.

A building society is a member-owned financial institution focused on serving its customers, while a bank is shareholder-owned and primarily aims to generate profits.

The findings come as The Cumberland continues to place an onus on positively impacting the community around it and developing relationships with its customers, with the building society holding 31 branches across Cumbria, Lancashire, the North East and Scotland.

With a view to aiding customers with their financial needs, The Cumberland implements a people-first approach focused on customer relationships.

Jill Johnston, Chief People & Sustainability Officer, said: “At The Cumberland we’ve always focused on building trust, supporting our community, and putting people first.

“This research shows how consumers value organisations that put people and planet alongside profit and achieving B Corp certification shows that we’re on the right path, making a real difference that our customers can see and feel.

Having secured B Corp status, The Cumberland is now looking to continue its journey in developing a responsible business which fosters relationships with customers and progress its positive impact on the community around it.