Summer Joins the B Corp Movement

April 24, 2020

Summer is now a certified B Corporation®. Certified B Corps are a newer type of company that use the power of business innovation to solve social and environmental problems.

Summer was certified by the non-profit B Lab® for meeting rigorous standards of social and environmental performance, accountability, and transparency. As we reviewed how our practices impact our employees, our customers (student loan borrowers), our partner community, and the environment, we found the process both robust and inspiring. This is a community of businesses that serve society and think about purpose and mission the way that we do.

Today, there are over 3,200 Certified B Corps around the globe, including Patagonia, Ben & Jerry’s, and Seventh Generation. We are proud to join them in redefining success in business to demonstrate that businesses can truly lead as a force for good. To learn more about our certification, check out our B Corp profile.

Summer was founded as a Public Benefit Corporation on the belief that all student loan borrowers have the right to financial health, and Summer’s solution would improve financial security by helping borrowers simplify and save on their student debt.

Today, we’ve helped thousands of student loan borrowers navigate through the stress, confusion, and hardship of student loan repayment. Summer’s online tools and borrower success live advisors and advocates have helped borrowers save a total of over $20 million to date, and we’re just getting started.

Now more than ever, it is important to affirm our values. The B Lab’s certification represents a community that will help hold us accountable when many businesses are not held to this standard.

This is what the B Corp certification means for us:

1. It’s About Protecting Consumers.

We’re student loan borrowers too, and we know how confusing it is to navigate repayment and decide which businesses to trust for help. Our unique, borrower-focused approach comes from years of experience working in student loan policy and from partnerships with respected institutions. Our certification serves as a daily reminder of what we stand for and why we work to create a positive impact on an industry that desperately needs it.

In response to the considerable financial hardship caused by COVID-19, Summer has ramped up our work to support the most vulnerable student loan borrowers by providing Summer for free to anyone that needs our services during these unprecedented times. Those individuals and families that are most vulnerable are those who cannot work remotely, do not have access to paid leave, have had hours cut due to closures, or have recently needed to file for unemployment. We have seen first-hand how this public health and economic crisis has hit hardest in these communities, exacerbating systemic inequalities.

2. It’s About Who We Partner With.

We partner with organizations ranging from employers, financial institutions, and unions to provide borrowers with access to our cutting-edge tools and a dedicated team of student loan advisors to help them find, compare and enroll in loan assistance and forgiveness programs. Summer’s partner organizations come to us because they care about supporting the financial health of their employees, customers, and members in an impactful way.

3. It’s About Our Workplace Culture and Honoring Our Values.

Our product and services are only as strong as the team behind them. We take deep pride in the values upheld by every member of the Summer team. There is a commitment each day in our workplace to maintain and celebrate our commitment to empathy, diversity, determination, and humility.

“We are thrilled to welcome Summer into the global family of Certified B Corporations not just for its commitments to positive impact at the company and for student loan borrowers, but also its dedication to empowering people around the country to use business as a force for good. They’re paving the way for the student loan industry to follow,” said Andy Fyfe of B Lab.

We’re proud to join this community and scale our work to support student loan borrowers. “…by joining the thousands of Certified B Corporations around the world, Summer is helping lead the way toward a more equitable economy,” said Fyfe.

To learn more about Summer, please reach out:

  • Interested in joining our team? Learn more about our team and open roles.
  • Want to bring Summer to your employees or customers? Schedule a meeting here.

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