Beneficial State Bank is a state-chartered, deposit-taking, federally insured, for-profit banking organization headquartered in Oakland, Calif. Founded as a social enterprise bank in 2007, Beneficial State Bank has grown organically and through aligned acquisition to serve the three West Coast states. Beneficial State Bank holds to a triple bottom-line of social justice, environmental well-being and economic sustainability. One hundred percent of the economic interest of Beneficial State Bank is entirely owned by the nonprofit Beneficial State Foundation that is permanently governed in the public interest. Beneficial State is jointly owned with Albina Community Bank, a Portland-based CDFI. Both banks are Certified B Corporations, with Beneficial State Bank ranking among the world’s top B Corps since becoming a certified B Corporation in 2012.
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