Camden National Corporation.
CAC.US | Other monetary intermediation
Camden National Corporation is a bank holding company. It provides a range of commercial and consumer banking services through its subsidiary, Camden National Bank. These services include deposit accounts, loans (commercial, real estate, and consumer), and wealth management services. The bank operat...Show More
Better Health for All
0
Camden National Corporation's core business is banking services, which do not inherently have direct positive or negative health impacts, nor do they involve health-related products, R&D, or data. The company made several philanthropic donations to healthcare organizations, including $250,000 to Maine Medical Center for its expansion, $250,000 to Pen Bay Medical Center for a new health center, and $10,000 to LifeFlight.
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It also made a gift to Northern Light Maine Coast Hospital for a new birthing center.
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While these donations support healthcare infrastructure and services, they are not considered direct business activities, R&D, or specific programs by the bank that would fall under the quantitative thresholds of the 'Better Health for All' KPIs. Therefore, all KPIs are scored as 'Not applicable' or 'Neutral'.
Fair Money & Economic Opportunity
-30
The company's inclusion lending, comprising 5,398 outstanding small business and community development loans totaling $452,573,752, represents approximately 11.04% of its $4.1 billion total loan book.
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The company has a Community Reinvestment Act (CRA) rating of 'Satisfactory' for the period 2021-2023 and 'Outstanding' in 2021, with no specific regulatory findings or fines mentioned in the provided reports.
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Digital banking tools are available, including online account opening and a Money Manager tool, with 21.5 million total digital banking logins and 61% of consumer accounts using paperless statements.
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The company offers an online financial wellness program (Enrich) with 41% employee participation and an 11% enrollment increase, along with financial literacy articles on its blog.
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It operates 73 branches in Maine and New Hampshire.
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The company also offers essential banking products with no or low monthly maintenance fees, including a Launch Checking Account that meets Bank On National Account Standards.
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Fair Pay & Worker Respect
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No evidence available to assess Camden National Corporation on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
0
No evidence available to assess Camden National Corporation on Fair Trade & Ethical Sourcing.
Honest & Fair Business
0
No specific, concrete evidence was found in the provided articles to assess Camden National Corporation against any of the 'Honest & Fair Business' KPIs. , while providing an ESG Risk Rating, explicitly states that no data on Honest & Fair Business is present.
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could not be accessed due to throttling, preventing data extraction.
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Kind to Animals
0
Camden National Corporation is a bank holding company, providing commercial and consumer banking services.
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This is a service-oriented business model. The provided articles, which include financial results and an environmental report, contain no information related to animal welfare practices, animal testing, animal-derived products, or habitat conservation efforts.
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Therefore, all KPIs related to 'Kind to Animals' are scored as N/A, as they are not applicable to the company's core business model or operations.
No War, No Weapons
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No evidence was found in the provided articles to assess Camden National Corporation against the 'No War, No Weapons' ethical value. The available articles focus on environmental initiatives and investment management, with one article being unavailable, and none contain data relevant to arms, defense, or peacebuilding activities.
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Planet-Friendly Business
-20
Camden National Corporation's 2023, 2024, and Environmental reports consistently state that no specific regulatory actions, violations, fines, or compliance issues were mentioned.
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The company has invested $6 million in solar tax equity, funding 21.98 MWdc solar projects across three states.
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It has reduced its data center physical footprint by 70% and power consumption by 50% through cloud migration.
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The company uses FSC-certified paper and has digitally stored over 200 million pages.
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In 2024, 61% of consumer and 60% of business accounts used paperless statements, saving 4.1 million pages annually.
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Over 1 ton of electronic waste and 90,000-105,000 lbs of paper were recycled in 2024.
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Respect for Cultures & Communities
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The provided articles do not contain specific, quantitative data points relevant to any of the KPIs for 'Respect for Cultures & Communities'. Information available focuses on general employee benefits, training hours, and volunteer activities with local nonprofits, but lacks details on formal partnerships with indigenous or local community groups, revenue reinvested in local development, cultural appropriation incidents, cultural impact assessment protocols, local employment ratios, grievance mechanisms, FPIC participation, community governance inclusion, cultural preservation investment, local procurement, indigenous suppliers, cultural site protection, social license, charitable giving to cultural organizations, community fund allocation, language inclusivity, cultural incident response, or cultural sensitivity training completion rates.
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Safe & Smart Tech
-40
In 2024, the company achieved a 100% completion rate for all required BSA/AML/OFAC training for all new hires and existing employees, with the Board of Directors also completing 100% of this annual training.
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An 80% or higher passing score is required on all compliance courses, and a security awareness program includes regular social engineering testing.
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The company uses Mimecast email encryption for sensitive information and debit cards have embedded chips for secure in-store shopping.
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However, a lawsuit has been filed alleging the company sold customer data, including credit card and bank account applications, to Meta and Google without permission or knowledge.
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Users have limited control over data collection and distribution, though they can update contact information, review and change personal information, and manage device privacy settings for location, camera, contacts, and storage.
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Multi-factor authentication is used for digital banking logins when a device or browser is not recognized, requiring a Login ID, Password, and a secure access code valid for approximately 10 minutes.
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Critical vulnerabilities are patched within 7-14 days on average, and the company reduced overall vulnerabilities by two-thirds.
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70-80% of systems undergo comprehensive security testing, with continuous testing for critical systems, and annual cybersecurity and data privacy program assessments and audits are conducted by internal and external parties.
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The company has reduced paper usage by digitizing processes, with a secure document imaging platform housing over 200 million pages digitally.
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The company states it complies with federal law and references California and Vermont state laws regarding information sharing, but the lawsuit implies potential non-compliance with data privacy regulations.
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Zero Waste & Sustainable Products
-40
The company has implemented waste reduction initiatives, including saving 3 million pages of paper by encouraging paperless statements and securely shredding and recycling 105,000 pounds of paper.
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The 2024 Environmental Impact Report states that no regulatory actions, violations, fines, or compliance issues were mentioned.
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Furthermore, the company has programs to educate customers on waste reduction, evidenced by 61% of consumer and 60% of business deposit accounts receiving paperless statements, indicating comprehensive educational resources for customers.
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