It says it is ‘immensely proud’ of the accolade and believes it is the first UK building society to achieve it.

B Corp is a globally recognised certification for companies that meet high standards of social and environmental performance, accountability, and transparency.

So far, more than 6,000 companies of different sizes, in different sectors and from different countries have achieved the certification.

Coventry Building Society chief executive Steve Hughes says: “It feels good to be the first building society to do so and, after almost 140 years, it’s fantastic that Coventry Building Society is still achieving firsts and being recognised for doing things in the right way,” he says.

“B Corp is about understanding the impact businesses have in the world, and the recognition that people and place matter.

“Our members, our people and our communities are central to what we do, and there is a strong link between our values as a mutual and the principles of being a B Corp.

“This achievement doesn’t change the fundamentals of what we do or why we do it, but it emphatically underlines our focus on becoming a force for good for our people, members, customers, suppliers and communities.”