What Led Us to Today

Beneficial State Bank (formerly One PacificCoast Bank, FSB & OneCalifornia Bank), grew from the vision of Tom Steyer, Kat Taylor, and the team they formed to create a triple-bottom-line bank and a supportive nonprofit foundation of the same name.

In December 2010, OneCalifornia Bank acquired ShoreBank Pacific and changed its name to One PacificCoast Bank. The merger greatly expanded the Bank's reach on the West Coast and enhanced its capacity to serve its mission. ShoreBank Pacific, a pioneer of environmentally sustainable banking, began operations in 1997 in Ilwaco, Washington, at the mouth of the Columbia River, and grew to establish offices in Portland and Seattle. Joining forces with OneCalifornia Bank produced an enlarged footprint covering a bio-regional territory some call the Salmon Nation and united the forces of social justice and ecological banking.

In 2013, Beneficial State Bancorp completed a stock purchase transaction of 90.1 percent of Albina Community Bank to provide critical capital for a legendary Portland institution, and in 2017, Beneficial State Bancorp purchased the remaining shares.

In July 2014, One PacificCoast Bank rebranded with the help of fellow Certified B Corporation, Free Range, to develop an identity that reflects our vision, mission, and commitment to our triple-bottom-line, rather than merely the geographical region we serve.

In June of 2016, Beneficial State Bank merged with Pan American Bank to serve communities in the Central Valley and Los Angeles markets of California.

As of February 1, 2018, Beneficial State Bank and Albina Community Bank have merged, resulting in a combined bank of $929 million in assets, over 250 colleagues, and 17 locations throughout California, Oregon, and Washington.

Beneficial State Bank pursues economic justice and environmental sustainability by focusing on change-makers that need loan capital, such as:

Support Diverse and Distributed Ownership

Businesses and nonprofits that are owned by people from under-served and historically oppressed groups can help build wealth and power for these individuals and communities

Mission-Driven Ownership Structures

Nonprofit organizations, worker-owned cooperatives, benefit corporations, Social Purpose corporations, and similar business models put people and the planet before profit

Mission-Driven Core Products & Services

Nonprofits and businesses whose core products or services are intended to improve the lives of people and communities and/or support environmental sustainability.

Mission-Driven Corporate Practices

We seek borrowers that purposefully support people and the planet through their corporate practices, such as the provision of living wages and benefits, well-being opportunities for staff, sustainability practices and policies, and community service programs. These practices are often recognized through certifications and labels such as B Corp, Green Business, JUST, LEED, and others

Providing credit to constructive businesses and nonprofits is our main business, especially those boosting entrepreneurial activity in inner cities, following and strengthening wellness models, or reconnecting vital rural/urban dependencies. Credit allows these beneficial activities to grow and scale. We also believe that a healthy environment is the only reliable foundation for economic prosperity. Finally, the Bank must be a catalyst for positive change in our communities by providing fair, transparent, and sustainable banking products and services as alternatives to more predatory practices that otherwise unwind the benefits of our lending practice.

Learn more at our virtual impact report.

Employees and supporters of Beneficial State Bank mingle at a Grand Opening event in Oakland in September, 2007

In 2007, that vision was realized when OneCalifornia Bank and OneCalifornia Foundation opened in Oakland. Fashioned in the image of the great socially responsible banks and credit unions of national and international fame, the Bank is mandated to produce meaningful social justice and environmental benefits at the same time that it is financially sustainable. The Foundation currently owns all of the economic rights of the Bank, and all future owners must be non-profit organizations that collectively reinvest all distributed bank profits back into the communities we serve to promote thriving people, a prosperous economy for all, and a healthy planet. In our theory and experience, this ownership model aligns our incentives with the triple bottom-line and the values of our bank customers.