Beneficial State Bank
Beneficial State Bank is a $1.98B-asset, FDIC-insured community development bank (CDFI) operating branches in California, Oregon, and Washington. Founded in 2007, it serves small businesses, nonprofits, affordable housing developers, and consumers with values-aligned lending, free checking, and digital banking.
- Company typePrivate
- Founded2007
- HeadquartersOakland, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Beneficial State Bank does
Beneficial State Bank is a private, state-chartered FDIC-insured Community Development Financial Institution (CDFI) headquartered in Oakland, California, founded in 2007 by Kat Taylor and Tom Steyer. The bank operates five branches across California (Oakland, Fresno, Porterville), Oregon (Portland), and Washington (Seattle), serving individual consumers, small businesses, nonprofits, B Corps, affordable housing developers, and environmental projects through a triple-bottom-line model ("people, planet, prosperity for all"). As of 2025, the bank holds $1.98 billion in total assets and reported $86.8MM in affordable housing, $47.7MM in small business, $16.5MM in health and social services, and $14.5MM in environmental loan originations, with zero lending to fossil fuels, private prisons, fracking, or weapons manufacturing.
The bank's product surface spans personal banking (free checking, savings, auto loans, credit cards, mobile and online banking), commercial banking (business checking/savings, lending, treasury/cash management, business credit cards, CDARS/ICS deposit placement), and specialized lending (affordable housing, green lending for commercial real estate, SBA preferred lending). The underlying technology stack includes iOS and Android mobile applications, an online banking portal, and proprietary tools such as an Impact Calculator that allows depositors to visualize the social and environmental outcomes of their deposits. The bank is majority-owned by the nonprofit Beneficial State Foundation, ensuring permanent governance in the public interest.
Revenue is generated primarily through net interest income on lending, supplemented by deposit service fees, cash management and treasury services, and CDARS/ICS-related fees. Pricing is not publicly disclosed in detail, but free checking accounts anchor the consumer acquisition funnel, while commercial and nonprofit banking is delivered through a relationship-based banker model. The bank holds B Corp, CDFI, Fossil Free, SBA Preferred Lender, Equal Housing Lender, GABV member, and UN Principles for Responsible Banking founding signatory certifications, and maintains union representation with the Communications Workers of America.
Beneficial State Bank firmographics
Firmographics- Name
- Beneficial State Bank
- Legal name
- Beneficial State Bank
- Website
- https://beneficialstatebank.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Beneficial State Bank is a $1.98B-asset, FDIC-insured community development bank (CDFI) operating branches in California, Oregon, and Washington. Founded in 2007, it serves small businesses, nonprofits, affordable housing developers, and consumers with values-aligned lending, free checking, and digital banking.
- Ownership category
- akta.pro rank
Beneficial State Bank industry classification
Industry- Product category
- Community Development Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
- akta.pro secondary industries
- Housing & Urban Development Banks (Public) (FSABAKAG), Green/Climate Development Banks & Funds (FSABAKAH), SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI)
Keywords
Where Beneficial State Bank is headquartered
LocationHeadquarters
- HQ city
- Oakland
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Beneficial State Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income from Lending: Traditional banking revenue generated from interest earned on loans to small businesses, affordable housing projects, environmental/sustainability initiatives, nonprofits, and consumer loans including auto loans and credit cards.
- Deposit Services and Transaction Fees: Revenue from deposit accounts including checking and savings, potentially including overdraft fees, ATM fees, and other transaction-related charges. Free checking accounts are offered as part of their ethical banking model.
- Cash Management and Treasury Services: Business cash management services, CDARS and ICS deposit placement services for businesses and nonprofits to access FDIC insurance beyond standard limits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Free Checking Account |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Beneficial State Bank product offering
Product offeringCore offering
Beneficial State Bank is a community development financial institution (CDFI) providing FDIC-insured personal, business, and nonprofit banking services through physical branches in California, Oregon, and Washington, plus digital and mobile banking channels. Its specialized lending programs channel capital to affordable housing developers, environmentally sustainable projects, small businesses (including SBA-backed loans), and nonprofit organizations, while explicitly prohibiting lending to fossil fuels, private prisons, weapons manufacturing, and fracking. The bank also offers treasury management, CDARS/ICS deposit placement, and a proprietary Impact Calculator that allows customers to measure the social and environmental effect of their deposits.
Product overview
Beneficial State Bank operates as a triple-bottom-line community development bank offering a unified portfolio of personal, business, and nonprofit banking products unified by their 'Beneficial Banking' mission. Personal banking includes checking, savings, auto loans, credit cards, and online/mobile banking with financial wellness resources. Business banking encompasses commercial checking and savings, lending services, business credit cards, online cash management, and CDARS/ICS deposit services, with specialized offerings for B Corps and nonprofits. Specialized lending includes Affordable Housing ($86.8MM in 2025), Green Lending for commercial real estate ($14.5MM), and Small Business/SBA loans ($47.7MM). The bank also provides an Impact Calculator tool enabling customers to measure the positive impact of their deposits. As a CDFI with $1.98 billion in assets as of 2025, the bank maintains strict contra-mission policies, lending $0 to fossil fuels, private prisons, weapons manufacturing, and fracking.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Free FDIC-insured personal checking accounts for individual customers, offered with no monthly maintenance fees as part of the bank's ethical banking model. Available through branches and digital channels across California, Oregon, and Washington.
- Personal Savings Accounts Interest-bearing savings accounts for individuals that help customers build savings while supporting the bank's mission-driven lending activities.
- Auto Loans Consumer auto loan products for individuals purchasing vehicles, available to personal banking customers of the bank.
- Personal Credit Cards Personal credit card products positioned as environmentally responsible for individual consumers.
- Personal Online and Mobile Banking Digital banking channel enabling personal customers to manage accounts, transfer funds, pay bills, and access services via web and mobile applications on iOS and Android.
- Business Checking Accounts Commercial checking accounts designed for small businesses, B Corps, and nonprofits operating across the bank's West Coast footprint.
- Business Savings Accounts Business savings accounts designed for organizational depositors that align with the bank's social and environmental mission.
- Business Lending Term loans and lines of credit for businesses, including SBA-backed financing and other commercial lending products for mission-aligned enterprises.
- Business Credit Cards Credit cards designed for small businesses, nonprofits, and other commercial banking customers of the bank.
- Online Cash Management Digital treasury management tools that allow businesses and nonprofits to manage cash flow, process payments, and optimize working capital through an online platform.
- CDARS and ICS Deposit Placement Deposit placement services via CDARS and ICS that allow businesses and nonprofits to access FDIC insurance coverage on large deposits beyond standard limits.
- Banking for Nonprofits and Foundations Specialized banking services for 501(c)(3) nonprofit organizations and foundations, including sponsorship support for social justice and environmental work in California, Oregon, and Washington.
- Banking for Certified B Corporations Banking services tailored for Certified B Corporation businesses that meet social and environmental performance standards.
- Affordable Housing Lending Loan products supporting the development and preservation of affordable housing, with $86.8MM in affordable housing loan originations in 2025 for developers serving low-to-moderate income communities.
- Green Lending Program (Commercial Real Estate) Environmental sustainability-focused lending for commercial real estate projects, with $14.5MM in environmental loans originated in 2025 to support clean energy and climate-positive outcomes.
- Small Business and SBA Loans Small business loans including SBA-backed financing, with $47.7MM in small business loan originations in 2025, supporting underserved businesses on the West Coast.
- Beneficial State Bank Mobile App Mobile banking application on iOS and Android that lets customers access accounts, manage finances, and conduct banking transactions on the go.
- Impact Calculator Interactive calculator tool allowing customers to model how their deposits support affordable housing, environmental projects, small businesses, and health services while avoiding investments in fossil fuels, private prisons, and weapons manufacturing.
Quantifiable outcome
- $86.8MM in affordable housing loans (2025)
- +7 more outcomes
Companies that use Beneficial State Bank
Customer profileNamed customers16 records
Segments6 records
Ideal customer profiles3 records
Beneficial State Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature2 records
Beneficial State Bank partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship and core.
- Beneficial State FoundationflagshipBeneficial State Foundation is the majority owner of Beneficial State Bank's capital, ensuring permanent governance in the public interest. The foundation was founded by co-founders Kat Taylor and Tom Steyer, who donated capital to establish the bank. The foundation measures impact and advocates for greater change in the banking industry.
- White Pine RenewablescoreInnovative solar deployment company partnered with Beneficial State Bank to finance distributed solar projects in Kettleman City and San Joaquin County using adaptable, technology-driven solutions.
- Energetic CapitalcorePartnered with Beneficial State Bank to finance distributed solar projects supporting efficient solar deployment on limited or constrained parcels.
- Planted SolarcoreInnovative solar deployment company supporting behind-the-meter and community-scale solar projects financed through Beneficial State Bank partnerships.
- bank.greencoreOrganization behind Fossil Free Certification that provides third-party verification of the bank's commitment to not funding fossil fuel activities. Featured Beneficial State Bank on their blog.
- Fossil Free Banking AlliancecoreAlliance of fossil-free banks. Beneficial State Bank is a founding member working to increase visibility of fossil-free banking commitments.
- Global Alliance for Banking on Values (GABV)coreInternational network of values-based banks requiring sustainability as an integral part of the bottom line. Beneficial State Bank is a member.
- FHLBank San FranciscocoreFederal Home Loan Bank partnership providing $599,000 in grants to four California nonprofits through the AHEAD Program supporting green jobs training, sustainable homeownership, and youth workforce development.
- United Nations Environment Programme Finance InitiativeflagshipFounding signatory for Principles for Responsible Banking, requiring the bank to report impact information every 18 months.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Beneficial State Bank competitors and assessment
Company assessmentDirect peers
- Atmos Financial: Atmos Financial is a climate-focused digital bank that channels deposits into renewable energy and sustainable projects. Comparable to Beneficial State's green lending mandate, but smaller, digital-only, and lacking the community development, small-business, and nonprofit banking breadth.
- Self-Help Federal Credit Union: Self-Help Federal Credit Union is a CDFI providing lending and depository services to underserved communities, with deep affordable housing and small business expertise. Directly comparable to Beneficial State on CDFI focus, LMI lending, and nonprofit-anchored governance, though structured as a credit union rather than a bank.
- Amalgamated Bank: Amalgamated Bank is a values-based, B Corp-certified commercial bank serving progressive nonprofits, labor unions, and mission-driven businesses. It is the closest U.S. direct peer to Beneficial State Bank given overlapping triple-bottom-line positioning, similar nonprofit and B Corp customer segments, and a comparable certification portfolio.
- Sunrise Banks: Sunrise Banks is a CDFI-certified, B Corp-certified community bank headquartered in Minnesota serving underserved consumers, small businesses, and nonprofits. Directly comparable to Beneficial State as a similarly sized CDFI with mission-locked products and impact reporting, but operating in the Upper Midwest.
- Aspiration Bank: Aspiration is a digital-first, fossil-fuel-free banking and wealth platform targeting environmentally conscious consumers and SMBs. It is comparable to Beneficial State in mission alignment and contra-investment screens, but operates without a branch network and focuses on retail/wealth rather than small-business and nonprofit banking.
Regional players
- Ecology Building Society: Ecology Building Society is a UK-based building society lending solely on environmental sustainability for homes and land. Comparable in green-only mandate, membership in the GABV, and mission-driven governance, but operates as a UK building society rather than a U.S. commercial bank.
- Triodos Bank: Triodos Bank is a European sustainable bank and GABV member lending only to positive-impact sectors including organic farming, renewable energy, and social housing. Highly comparable in mission, contra-investment screens, and GABV membership, but operates in Europe (Netherlands, Belgium, UK, Spain, Germany) rather than the U.S.
Others
- Calvert Impact Capital: Calvert Impact Capital is a nonprofit impact investing intermediary raising capital for community development financial institutions and mission-aligned lenders. Comparable to Beneficial State in impact mandate and CDFI ecosystem participation, but is a capital intermediary rather than a depository institution.
- RSF Social Finance: RSF Social Finance is a nonprofit financial organization providing loans, grants, and investments to social enterprises in food, education, and climate. Comparable to Beneficial State as an impact-aligned finance institution serving nonprofits and social enterprises, but operates as a non-bank social finance intermediary.
Emerging players
- Greenwood Banking: Greenwood is a digital-first Black-focused banking platform serving Black and Latino consumers and small businesses. It is comparable to Beneficial State in values-aligned, community-development mission and digital delivery, but is earlier-stage and more retail-focused.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Beneficial State Bank social profiles
Digital presenceBeneficial State Bank compliance and trust
Trust signalCompliance8 records
Beneficial State Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Beneficial State Bank leadership team
Management profileNumber of profiles
Profiles9 records
Beneficial State Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Beneficial State Bank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Beneficial State Bank
What does Beneficial State Bank do?
Beneficial State Bank is a community development financial institution (CDFI) providing FDIC-insured personal, business, and nonprofit banking services through physical branches in California, Oregon, and Washington, plus digital and mobile banking channels. Its specialized lending programs channel capital to affordable housing developers, environmentally sustainable projects, small businesses (including SBA-backed loans), and nonprofit organizations, while explicitly prohibiting lending to fossil fuels, private prisons, weapons manufacturing, and fracking. The bank also offers treasury management, CDARS/ICS deposit placement, and a proprietary Impact Calculator that allows customers to measure the social and environmental effect of their deposits.
Is Beneficial State Bank a public or private company?
Beneficial State Bank is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Beneficial State Bank founded?
Beneficial State Bank was founded in 2007. It employs 51 to 100 people.
Where is Beneficial State Bank based?
Beneficial State Bank is headquartered in Oakland, United States, in the North America region.
How does Beneficial State Bank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Services and Transaction Fees and cash Management and Treasury Services.
Who are Beneficial State Bank's main competitors?
Direct peers on record are Atmos Financial, Self-Help Federal Credit Union, Amalgamated Bank, Sunrise Banks and Aspiration Bank. Regional players are Ecology Building Society and Triodos Bank. Others are Calvert Impact Capital and RSF Social Finance. Greenwood Banking is listed as an emerging player.
Does Beneficial State Bank have an API?
No public API is recorded for Beneficial State Bank.
What industry is Beneficial State Bank in?
Beneficial State Bank's product category is Community Development Banking. Its primary akta.pro industry code is BPAGALAA, Impact Investing & Social Finance (Funds, CDFIs, Microfinance), with a secondary code of FSABAKAG, Housing & Urban Development Banks (Public). Its NAICS code is 52211 and its SIC code is 6022.