Mary Houghton

Director, Citizens Bank of Canada Mary Houghton

Cofounder and president of ShoreBank Corporation, 1973 to May 2010

ShoreBank Corporation was a regulated commercial bank holding company organized for the purposes of community development and environmental protection strategies in Chicago, Cleveland, Detroit, rural Michigan and Washington/Oregon. It was the first specialized community development bank in the U.S. and the largest.

Mary managed expansion activities, the last being the formation of ShoreCap International, an equity investor in regulated microfinance and small business banks in Africa, Asia and eastern Europe. ShoreBank Corporation raised/deployed equity and deposits of social investors in neglected markets until closing in 2011 in the aftermath of the predatory lending crisis in the U.S. All operating subsidiaries continue under new ownership and all but one of the operating non-profit affiliates and sponsored ventures continue independently.

Current Directorships
Director, Basix and BSFL (regulated non bank financial institution subsidiary), Hyderabad, India; Director and Member, Audit Committee, Calvert Foundation, Bethesda, Maryland; Vice Chair and Chair of Finance Committee, Womens World Banking, New York; Director, Grassroots Business Fund, Washington, DC; Chair, International Breast Cancer Research Foundation, Madison, Wisconsin; Director, Rapid Results Institute, Stamford, Connecticut; Founder, Global Alliance for Banking on Values, Zeist, Netherlands; Director, two ex-ShoreBank affiliates and one subsidiary.

About Citizens Bank

Citizens Bank was formed by Vancity in 1997 as a national bank that would take the largest credit union in Canada beyond the borders of B.C. We were the first and we’re still the only bank with a clear ethical policy. In April 2008, we became the first North American-based bank to be carbon neutral, which means that the CO2 emissions we create are now equal to the emissions we have reduced or offset elsewhere. We achieved this goal through a rigorous emissions reduction program focusing on energy use, staff travel, paper consumption and waste.