Beneficial State Bank

Banks can play a crucial role in combating climate change. Check out this insightful Forbes article on practical and effective ways banks can reduce their carbon footprints, including a quote from Monique Johnson our Director of Client & Community Partnerships: https://lnkd.in/e6gnYdE9 One significant way banks can reduce their carbon footprint is by optimizing their lending portfolios. We take pride in financing projects that benefit the environment and consciously avoid supporting harmful industries like fossil fuels. Let’s work together for a greener future! ???? #SustainableBanking #ClimateAction #GreenFinance #BeneficialBanking Beneficial State Bank Member FDIC | Equal Housing Lender

We’re proud to announce that Manny Barragan VP, Client & Treasury Manager at Beneficial State Bank, will present at this year’s Net Zero Conference on September 18th! Alongside Ravi Mikkelsen, Co-Founder at Atmos Financial, Manny will be diving into the topic of green banking in their presentation, “Accelerating Climate Action: The Critical Role of Financial Institutions.” The 11th annual Net Zero Conference, presented by Verdical Group, has been convening climate leaders for over a decade to re-envision a decarbonized and net zero built environment. We hope to see some of you there! https://lnkd.in/gRhDFVM Beneficial State Bank Member FDIC | Equal Housing Lender

We’re proud to take a stand for community investment and financial equity by opposing efforts to block the modernization of the Community Reinvestment Act (CRA). “Historically there's been a one-sided relationship between banks and low-income communities. Banks would take deposits from residents and businesses there, offering minimal interest in return, but they frequently denied loans or provided high-interest, predatory loans to people in those same areas. When the CRA passed in 1977, Congress directed regulators to issue binding evaluations of how effectively banks lend to low- and moderate-income individuals.” Read more and hear from our CEO, Randell Leach, about the ongoing CRA lawsuit and our involvement in advocating for fairer financial practices: https://lnkd.in/gZNw5ffP Beneficial State Bank Member FDIC | Equal Housing Lender

At Beneficial State Bank, we believe that worker empowerment is key to building a stronger, more equitable society. As our CEO, Randell Leach, expressed, “Worker empowerment is not a threat but an invaluable opportunity to build a more equitable, sustainable, and prosperous future for all stakeholders in the banking sector.” We stand firm in our commitment to being a pro-employee bank, where the voices and contributions of our workers are not just valued, but essential to our success. We believe that by empowering our employees, we are empowering the communities we serve. Together, let’s keep building a better, more just future. Happy Labor Day! ?? Please note that in observance of Labor Day, our branches and customer care center will be closed. We look forward to welcoming you back tomorrow.? #LaborDay #WorkerEmpowerment #ProEmployee #Community #SocialJustice #BeneficialStateBank Beneficial State Bank Member FDIC | Equal Housing Lender

As Black Business Month comes to a close, we’re excited to shine a light on the amazing Black-owned businesses that our team members have chosen to highlight. A heartfelt thank you to both our team for sharing these local gems and to the businesses themselves for their outstanding contributions to our communities. While Black Business Month may be ending, let’s keep uplifting and celebrating the voices, talents, and hard work that enrich our neighborhoods all year long. ?? #BlackBusinessMonth #SupportLocal Beneficial State Bank Member FDIC | Equal Housing Lender

We’re thrilled to share that Lisa Webb - CCBCO, CRCM, our Vice President and Senior Compliance Manager, has been recognized in Marquis Who's Who for her outstanding contributions to the banking industry. Lisa’s dedication to sustainable banking practices and her commitment to excellence have been invaluable to Beneficial State Bank since she joined in 2021. Congratulations, Lisa, on this well-deserved honor! ?? Read More: https://bit.ly/4dpym98 #BeneficialStateBank #Leadership #Compliance #MarquisWhosWho Beneficial State Bank Member FDIC | Equal Housing Lender

The recent Supreme Court decision overturning the 1984 Chevron doctrine threatens consumer financial protections. The Consumer Financial Protection Bureau (CFPB), which safeguards consumers from unfair and abusive financial practices and holds banks accountable for legal violations, is among the most impacted agencies. Financial institutions possess significant power to influence communities and individuals’ lives, for better or worse. By supporting regulatory frameworks that protect consumers and small businesses, we can create a fairer and more just financial system for everyone. Read our new blog post to learn more: https://lnkd.in/gtFXWDnx Beneficial State Bank Member FDIC | Equal Housing Lender

We strongly oppose the ongoing efforts to block or weaken the updated Community Reinvestment Act (CRA) regulations. As legal proceedings continue to stall these crucial updates, we’ve stepped up by filing an amicus brief with the U.S. Court of Appeals for the Fifth Circuit, advocating for these pivotal financial rules to take effect. The CRA has spurred banks to make more than $2.5 trillion in home loans to low-and moderate-income borrowers and over $856 million to small businesses from 2009 to 2020. While we wished CRA modernization had gone even further to address the racial wealth gap, stalling implementation prevents financial services from meeting the credit needs of all communities, particularly LMI neighborhoods. CRA modernization is vital to creating a more equitable banking system – and that’s what our communities rightfully deserve. We urge the court to lift the injunction and allow the reform to move forward. Read the full story on American Banker: https://lnkd.in/gK5mXetZ #CRA #FairBanking #CommunityReinvestmentAct Beneficial State Bank Member FDIC | Equal Housing Lender

?? Happy National Nonprofit Day! ?? Today, we honor the incredible work of nonprofits that uplift our communities and drive meaningful change. At the heart of our mission is Beneficial State Foundation, a 501(c)(3) nonprofit committed to advancing financial justice and transforming the banking system for good. As the founding investor and majority shareholder of Beneficial State Bank, Beneficial State Foundation ensures that our values of equity, sustainability, and social responsibility are woven into everything we do as we continue to grow and evolve. On this special day, we’re shining a light on three remarkable nonprofits making a difference: 1?? Hammond Climate Solutions Foundation, based in San Diego, California, teams up with local philanthropists, organizations, advocates, and elected officials to implement effective solutions toward stopping the climate crisis. 2?? Hacienda Community Development Corp. (CDC), based in Portland, Oregon, is a Latino-led Community Development Corporation that strengthens families by providing affordable housing, homeownership support, economic advancement, and educational opportunities. 3?? 501 Commons, based in Seattle, Washington, provides expertise to nonprofits through a full range of management consulting and hosts GiveBIG, an annual Washington State fundraising event. Together, by supporting nonprofits of all sizes, from local grassroots initiatives to expansive international organizations, we can persist in driving transformative change for our world. Let us know what your favorite nonprofit is in the comments! #NationalNonprofitDay #FinancialJustice #CommunityDevelopment #BeneficialStateBank Beneficial State Bank Member FDIC | Equal Housing Lender

Congrats to the Portland Pickles Baseball Team who will play their first-ever West Coast League championship game today at Walker Stadium! Let's go, Pickles! ???? Beneficial State Bank Member FDIC | Equal Housing Lender