Beneficial State Bank Recognized as a Top Impact Company in the 2024 Real Leaders Impact Awards
Jan 29, 2024
In a highly competitive process, Beneficial State Bank was ranked #54 overall in Real Leaders’ annual global ranking of businesses making a positive difference.
January 30, 2024, Oakland, Calif. – Beneficial State Bank, a mission-driven community bank and certified B Corporation serving California, Oregon, and Washington, was recognized as a top impact company in the 2024 Real Leaders Impact Awards, ranking #54 out of more than 500+ applications in the highly competitive Top Impact category.
The Real Leaders Impact Awards is a prestigious global ranking that celebrates mission-driven businesses across diverse industries. These awards spotlight organizations that excel financially while concurrently making significant contributions toward a better world.
We are honored to be recognized for our ongoing commitment to creating a positive impact on the planet and in the communities we serve. Beneficial State Bank is cultivating a new way of banking, one that invests in social justice, financial inclusion, and environmental wellbeing, while remaining financially sustainable. The last few years have underscored the importance of addressing the pervasive inequities in our financial system, and Beneficial State Bank is proud to be leading the way in transforming the banking industry for good.
As a federally certified Community Development Financial Institution (CDFI) and certified B Corp, Beneficial State Bank provides fair and transparent financing and banking services to under-resourced communities, while investing in mission-aligned social and environmental projects and organizations. At least 75% of Beneficial State Bank’s loan dollars go toward funding its mission categories, including affordable housing, renewable energy, and sustainability. Beneficial State Bank does not lend to industries that work against its mission, such as fossil fuels, private prisons, weapons manufacturing, or fracking.
In 2022, the bank provided $866 million in commercial loans, of which $601 million directly advanced its mission of serving communities and the planet. This includes $337 million in loans for affordable housing, $195 million invested in small businesses, and $100 million directed toward environmental sustainability initiatives. Beneficial State Bank is also a bank of choice for the nonprofit sector, with 992 nonprofit accounts entrusting the bank with deposits totaling $448 million. The bank’s dedication to the communities it serves also goes beyond lending: In 2022, bank employees were actively involved in community service, dedicating over 4,431 hours to volunteer work.
To learn more about Beneficial State Bank’s impact, view the bank’s 2022 Impact Report.
Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with branches in California, Oregon, and Washington. Beneficial State serves the triple bottom line of people, planet, and prosperity for all, which involves serving its communities, supporting positive environmental outcomes, and achieving long-term financial sustainability. A unique ownership structure supports these strategic priorities: the bank’s capital is majority-owned by the nonprofit Beneficial State Foundation. This means its economic rights are fully aligned with, and permanently governed in, the public interest.
Beneficial State Bank is a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, a Community Development Financial Institution (CDFI), Fossil Free Certified, and one of the world’s top-rated Certified B Corporations.
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