Beneficial State Bank

Beneficial State is a little different.  We were created to prove that banking could be materially better – more sustainable.  More inclusive.  More transformational.  More accountable.  While some banks have philanthropic arms, we have a philanthropic heart.  We are owned by nonprofit entities that invest in low-income communities, social equity activities, and environmental sustainability and work with countless stakeholders to further our mission: to help more people and help people more, in harmony with the environment.  Our charter precludes us from lending ANY money to special interests that are “contra mission,” such as fossil fuels, private prisons, weapons manufacturing, or fracking.

The bank is a leader in the social impact space, sharing our results, successes, failures, strategies, and learnings, so that other banks may follow our model and benefit from our insights.  Our impact and awards tell our story for us.  As of the end of 2020, we had over $270MM in loans to nonprofits, and over 75% of our lending portfolio was committed to mission-aligned applications.  Since opening our doors in 2007, we have financed over 10,000 affordable housing units, helping to address the housing crisis that plagues our Pacific Coast cities.  The Global Alliance for Banking on Values graded 84% of our loan portfolio as “triple bottom line” – serving people, planet, and prosperity.  We once again received a CRA rating of “outstanding,” demonstrating our commitment to meeting the needs of our communities.  Even through the pandemic we have been growing our impact.  We are now over $1.5B in assets and anticipate our growth to continue or accelerate well into 2030.

Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with Branches in California, Oregon, and Washington.  The bank’s unique ownership structure supports our impact commitments.  We are a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, and one of the world’s top-rated Certified B Corporations, having been awarded B Corp “Best for the World” status every year since 2012.  We recommend that any business seeking to become more purpose-driven and be a force for good take advantage of B Lab’s resources and third-party assessment framework and support our clients in their endeavors to build their impact and achieve their B Corp certification.  Together, we are the solution.  Learn more about our impact on our Foundation’s impact site.