Opening New Financial Hub in Bullitt Center
Sep 30, 2020
FOR IMMEDIATE RELEASE
Beneficial State Bank, a mission-driven community bank with a strong focus on sustainability, will open a new financial center in the ‘greenest commercial building in the world’ on Oct. 6, with a goal of providing technical assistance to all Seattle residents–especially the un- and underbanked–to support them in transitioning to the future of online banking
Seattle, Sept. 30, 2020 – Beneficial State Bank, a mission-driven community bank with locations branches in Washington, Oregon and California, will open a new financial center on October 6 in Seattle’s Bullitt Center, the “greenest commercial building in the world,” in its ongoing commitment to sustainability as Seattle and communities across the West Coast suffer the impacts from the climate crisis.
To celebrate, Beneficial State will host a free outdoor concert and giveaways at the Bullitt Center on Friday, Oct. 9 from 4-6pm. The performance will feature local musicians from Capitol Hill.
“When our Washington branch first opened in a trailer in Ilwaco, we couldn’t have imagined that one day we’d bank from the world’s most sustainable building,” said CEO Randell Leach. “It’s the result of a decade of proactive investments in environmental sustainability and climate justice coming to fruition.”
Furthering Beneficial State’s green mission, the new financial center will be cashless with the exception of the branch’s ATM. By utilizing digital technology, the bank will help its customers do their banking electronically without relying on paper transactions. Customers will be able to set up accounts, talk to bankers, and manage their money digitally. The center will also focus on teaching Seattle residents how to use less paper and less cash, and move toward the financial future of digital banking.
“We recognize the importance of ensuring that the evolution of banking doesn’t inadvertently leave some groups behind, but we also believe it’s incredibly important not to unintentionally disadvantage people by failing to provide them with the ability to become bankable and move their finances online,” said Calvin Coleman, VP, Regional Manager of Retail Banking at Beneficial State Bank. “We are working to balance supporting people in low income areas who have previously been cash intensive, and changing their view of becoming bankable. This new financial center will focus on giving people the tools they need to learn how to bank online so they can move away from solely relying on cash and gain access to safer, more flexible banking options enjoyed by more affluent segments.”
Beneficial State’s new financial center in the Bullitt Center is located at 1501 E. Madison St. in Seattle.
As a federally certified Community Development Financial Institution and certified B Corporation, Beneficial State provides under-resourced communities fair and transparent banking services.
Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with branches in California, Oregon, and Washington. Beneficial State serves the triple bottom line of people, planet, and prosperity for all, which involves serving its communities, supporting positive environmental outcomes, and achieving long-term financial sustainability. A unique ownership structure supports these strategic priorities: the bank’s capital is majority-owned by the nonprofit Beneficial State Foundation. This means its economic rights are fully aligned with, and permanently governed in, the public interest.
Beneficial State Bank is a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, a Community Development Financial Institution (CDFI), Fossil Free Certified, and one of the world’s top-rated Certified B Corporations, awarded B Corp "Best for the World" status every year since 2013.