Sustainability Summary

This is an unclaimed profile. Beneficial State Bank has not joined Sustainability Tracker to verify their sustainability credentials. We gathered what we could from public sources.

Beneficial State Bank Sustainability Profile

Sustainability Summary

This is an unclaimed profile. Beneficial State Bank has not joined Sustainability Tracker to verify their sustainability credentials. We gathered what we could from public sources.

What do our labels mean?

Beneficial State Bank presents itself as an ethical, mission-driven community bank focused on people, planet, and prosperity for all. It says it was founded to challenge a banking model that prioritizes shareholders above all others, and instead operates with an aspiration to “deliver benefit to all and harm to none.” The bank says it tracks and reports its impact through annual impact reporting, and its lending and operations prioritize positive environmental and community outcomes. It is a B Corp, a CDFI, a member of the Global Alliance for Banking on Values, and a founding signatory of the UN Principles for Responsible Banking.

About Beneficial State Bank

Status
Unverified

Website
Visit Website

Employees
25 - 100

Country
United States

Beneficial State Bank Sustainability Actions

Published annual impact reporting

We track, report, and share key indicators and real stories that show how our ambitions lead to real, measurable benefits for communities and the environment. Our annual impact report is one way we demonstrate the impact your money makes through Beneficial Banking.

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Hired first Chief Impact Officer

On Jan. 29, 2024, Beneficial State Bank hired Terra Neilson as its new Chief Impact Officer. In this role, Neilson will help advance the bank's commitments to local communities, environmental sustainability, and inclusive, equitable practices, and will focus on developing, evaluating, and reporting on the bank’s social and environmental outcomes.

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Became a B Corp in 2012

In 2012, we became a B Corp, formalizing our commitment to serving our communities and the planet.

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Avoids harmful lending

We avoid lending to harmful industries and aim for at least 75% of our lending portfolio to go towards having a positive impact on people and the planet.

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