Better Banking Blog

5 Moments from 2020 That Give Us Hope

Dec 23, 2020

Courtesy of Beneficial State Foundation

In a year that challenged us as a society, let’s take a moment to recognize that change in the banking system is accelerating.

Colour is not a crime

Here are five 2020 bright spots in the movement for economic justice:

  1. CDFIs outperform big banks in giving out PPP loans to small businesses.
  2. Racial discrimination becomes a key focus in conversations about financial reform.
  3. Protests push banks to commit to divesting from prisons, immigration detention centers, and fossil fuels.
  4. Public banking gets the green light in California and grows in popularity nationally.
  5. Bank workers at Beneficial State Bank unionize in a rare win for labor rights in finance.

This momentum reflects the collective work of countless advocates and resilient organizations coming together. We’re humbled to work in solidarity with each of them as we strive to dismantle inequitable power structures. Beneficial State Foundation is committed to looking throughout the entire banking system to learn what is working and who can help us build a just economy for all. We love what we do, and we can’t do it without you on our side.

To better ways of banking in 2021!