Did you know that nearly 90% of adults in the U.S. feel unprepared to call their own financial shots? For most Americans, financial literacy is a huge challenge; but for people impacted by the criminal legal system, the obstacles are even greater. More than half of system-impacted people had essentially no income in the years leading up to their incarceration, and roughly a third had no bank account - that’s three times higher than the national average. Every year, tens of thousands of people are leaving prison with far too few tools or skills to establish the financial security that is critical to successful reentry.? ?? Good financial education can change the direction of someone’s reentry journey. That’s why Beneficial State Bank and Impact Justice are teaming up to provide financial education to people returning from prison.? We’re helping people learn how to establish a credit history, create and manage a budget, and build their savings - because we know that when banks fulfill their community investment promises, everyone benefits.?? ?? Read the full article on American Banker: https://lnkd.in/deRY5rbF Beneficial State Bank Member FDIC | Equal Housing Lender?
Beneficial State Bank
银行业
Oakland,CA 10,159 位关注者
Values-based bank and certified B Corporation committed to #BeneficialBanking. Privacy policy: https://bit.ly/1sd12Vr
关于我们
Beneficial State Bank is an FDIC-insured Community Development Financial Institution (CDFI) that serves businesses, nonprofit organizations, and individuals. Founded in 2007, Beneficial State Bank focuses on economic and environmental sustainability and takes a triple-bottom-line approach to community and environmental banking. We believe that a healthy environment is necessary for economic prosperity. We also believe that we can be a catalyst for positive change in our communities by providing fair, transparent, and sustainable banking products and services. Our vision is of a banking industry that is fair to the person with the least bargaining power; provides access to financial services for all our communities, particularly the traditionally underserved; results in the long-term prosperity of responsible consumers; promotes financial system stability; and contributes to the sustainability of the environmental commons. We call this vision Beneficial Banking.
- 网站
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https://www.beneficialstate.com
Beneficial State Bank的外部链接
- 所属行业
- 银行业
- 规模
- 201-500 人
- 总部
- Oakland,CA
- 类型
- 私人持股
- 创立
- 2007
- 领域
- Commercial Lending、Multifamily Lending、Small Business Financing、Checking & Savings Accounts、Affinity Credit Cards和Auto Loans
地点
Beneficial State Bank员工
动态
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We had the privilege of touring our client Street Roots’ new building in downtown Portland, currently undergoing major renovations. Street Roots, a nonprofit, publishes a weekly social justice newspaper sold by individuals experiencing homelessness and poverty, providing them with an income source. In desperate need of a larger space, Street Roots’ new multi-story building exceeds expectations. It features thoughtful details like a wheelchair charging station, spacious showers, laundry facilities, and a serene rooftop patio. The entire space is designed to provide a safe, inclusive environment where the people they serve can experience dignity and a sense of belonging. The tour included Kaia Sand, Executive Director at Street Roots, Randell Leach, CEO at Beneficial State Bank, and Terra Neilson, CIO at Beneficial State Bank. Thank you, Street Roots, for your incredible work in our community. Your efforts are truly inspiring and serve as a model for the rest of the country. We are proud to be your banking partner and ally as we work together towards a fair and just economic future for all ?? Learn more about Street Roots: https://lnkd.in/g9t7nvFq Beneficial State Bank Member FDIC | Equal Housing Lender
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We’re thrilled to highlight, Beatriz Acevedo, one of the leading inspirational voices and Latina entrepreneurs in the United States. As a board member at Beneficial State Bank, Beatriz brings her passion for empowering the next generation of Latino leaders. From winning three Emmys to co-founding mitú, her dedication to financial inclusion and social impact is unparalleled. Her latest startup, Suma Wealth, is the leading financial technology company devoted to increasing prosperity, opportunity, and financial inclusion for young U.S.-born Latinos. “Serving on the board of Beneficial State Bank is an incredible honor. I am proud to be part of a financial institution that consistently prioritizes the well-being of our communities and our planet. Beneficial State Bank’s commitment to balancing profit with purpose aligns deeply with my own values, and I’m excited to continue working alongside a team dedicated to fostering financial inclusion and social impact.” – Beatriz Acevedo. Join us in celebrating Beatriz’s incredible journey and her contributions to our community! ???? Read more: https://lnkd.in/g-SNqn6s #BoardMemberSpotlight #BeneficialBanking Beneficial State Bank Member FDIC | Equal Housing Lender
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This September and October, we proudly celebrate the vibrant culture, history, and contributions of the Latiné and Hispanic communities. At Beneficial State Bank, we recognize that our collective success is built on the unique perspectives and experiences each of us brings to our organization. As we reflect on the richness of these cultures, let’s continue to embrace the values of respect, inclusion, and equity that define who we are as an organization. Together, we are building a stronger, more vibrant future for all. Thank you to our Latiné and Hispanic colleagues for your leadership and contributions! ?? #LatinéHeritageMonth #HispanicHeritageMonth #CelebrateDiversity #BSBCommunity #Inclusion #Equity #SocialJustice Beneficial State Bank Member FDIC | Equal Housing Lender
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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
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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
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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
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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
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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
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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
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