Better Banking Blog

5 Moments from 2020 That Give Us Hope

Dec 23, 2020 | Beneficial State Foundation

Protestors holding up various signs, including "Skin Colour Is Not a Crime" and "Silence Is Violence."

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

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!

Beneficial State Foundation Acorn

Beneficial State Foundation

Beneficial State Foundation, a nonprofit charitable organization governed in the public interest, is the majority owner of the economic interest of Beneficial State Bank.

Concentric Orange Hearts

People, Planet, Prosperity for All

We lend over $1 billion to support a brighter tomorrow, including affordable housing and the environment. When you bank beneficially, you choose to support people and planet.

Spotlight on Ethical Banking

We envision a more equitable economy and a banking industry that prioritizes a triple-bottom-line: people, planet, and prosperity for all.

Read More

Choose a Bank that Invests in Tomorrow

Bank Institution Icon

A Beneficial Bank serves the triple-bottom-line of People, Planet, and Prosperity for All. That means prioritizing social justice and environmental sustainability. Our clients want to see their money put to good use – funding causes that defend our planet and build resiliency in our communities. Change your bank and help change the world.