Amsterdam, Netherlands, 4 April 2025 – The Global Alliance for Banking on Values (GABV) welcomes Mascoma Bank (USA) as its newest member in North America, furthering the mission to use finance as a force for good.
Founded in 1899 and headquartered in Lebanon, New Hampshire, Mascoma Bank is a mutually owned financial institution dedicated to community investment and sustainable banking. As a Certified B Corporation, the bank prioritises social responsibility, recognising the interdependence between business, people and the planet while ensuring long-term benefits for future generations.
A Legacy of Community-Driven Banking
Mascoma Bank has a long-standing tradition of supporting communities in times of need. During the Great Depression, it played a key role in helping returning WWII veterans secure home mortgages. In 1988, it established the Mascoma Bank Foundation, which has since awarded over USD 6 million in grants to local non-profits. In 2011, following Tropical Storm Irene, the bank contributed to the region’s recovery, and in 2020, it processed over 1,000 Paycheck Protection Program loans within two weeks to support businesses during the pandemic.
Mascoma Bank’s dedication to community development is exemplified through initiatives like the Mascoma Community Development (MCD), established in 2013. MCD focuses on deploying tax credits into projects that benefit severely distressed, low-income communities and individuals, aligning with the GABV’s commitment to social equity and inclusion. Today, the bank operates 27 branches and two loan production offices, employs over 400 co-workers and manages nearly USD 3 billion in assets.
Expanding the Values-Based Banking Network
GABV’s Executive Director, Martin Rohner, welcomes the new member:
“I am delighted to welcome Mascoma Bank, a community-focused institution operating across New Hampshire, Vermont and Maine to the GABV. For 125 years, it has been supporting community development and fostering entrepreneurship among business with limited access to finance. Mascoma is an excellent fit with the GABV and will enhance the diversity and reach of banking on values in North America.”
The North American Chapter of the Global Alliance for Banking on Values currently consists of 18 banks, including three in Canada: Amalgamated Bank (USA), Beneficial State Bank (USA), Caisse d’économie solidaire Desjardins (Canada), City First Bank (USA), Civic Federal Credit Union (USA), Climate First Bank (USA), Credit Human (USA), EastRise Credit Union (USA), Kindred Credit Union (Canada), National Cooperative Bank (USA), Southern Bancorp Inc. (USA), Spring Bank (USA), Summit Credit Union (USA), Sunrise Banks (USA), Vancity (Canada), Verity Credit Union (USA) and the recently joined Mascoma Bank (USA). In total, the North American Chapter serves nearly 2.4 million customers, manages USD 87 billion in assets and employs over 8,000 people.
About the GABV
The Global Alliance for Banking on Values (GABV) is a network of independent banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social, and environmental development. Founded in 2009, the GABV comprises 70 financial institutions operating in over 45 countries across Asia-Pacific, Africa, Latin America, North America and Europe. It serves more than 50 million customers collectively, holds over USD 265 billion of combined assets under management and employs 100,000 co-workers.
Meet the banks of the network and the countries where they operate: www.gabv.org/members
