Better Banking Blog

Press Release: Raisbeck High School Students Receive Sponsorship for Solar Car Contest

Jul 14, 2021

Beneficial State Bank has awarded the Raisbeck Aviation High School Green Energy and Solar Car Team with a sponsorship for its contributions to environmental sustainability

July 14, 2021, Seattle, Wash. – Beneficial State Bank, a mission-driven community bank with branches in Washington, Oregon, and California, announced that it has awarded the Raisbeck Aviation High School Green Energy and Solar Car Team a $500 sponsorship to participate in the 2021 Solar Car Challenge at the Texas Motor Speedway in Fort Worth, Texas, from July 15-22.

Raisbeck Aviation High School, located outside of Seattle in Tukwila, Wash., is a nationally ranked STEM high school serving 25 districts from the Puget Sound. Its Green Energy and Solar Car Team is composed of freshmen through seniors interested in engineering and solving real-world problems, with a focus on energy and the environment. In addition to designing and building clean energy technology, the team engages with local elementary and middle schools to engage students in STEM programs.

To support its community above and beyond its lending, Beneficial State Bank, which has a branch in Seattle’s Bullitt Center, provides sponsorships to 501(c)(3) nonprofit organizations engaged in transformative social justice and environmental work. The RAHS Green Energy and Solar Car Team qualifies as a 501(c)(3) through the school’s Parent-Teacher-Student Association. Throughout its history, the bank has provided the equivalent of 5-10% or more of its profits to selected organizations, amounting to five to ten times the U.S. average corporate giving of less than 1%.

“As a triple-bottom-line bank serving people, planet, and prosperity for all, sustainability is at the heart of our business,” said Randell Leach, Beneficial State Bank CEO. “That’s what makes us proud to support mission-aligned organizations like the RAHS Green Energy Team. We’re so excited about the impressive work these students are doing to both develop sustainable technology and encourage younger students in the community to follow suit. We are wishing them the best of luck at this year’s Solar Car Challenge!”

Solar car built by RAHS Green Energy and Solar Car Team

The Solar Car Challenge is the top project-based STEM Initiative helping motivate students in Science, Engineering, and Alternative Energy. The competition takes place from July 15-22. To learn more about the RAHS Green Energy Team’s year-long effort to design and build their solar car, visit their website.


About Beneficial State Bank

Beneficial State Bank (Beneficial State) is a state-chartered, federally insured, and for-profit bank. Its economic rights are majority-owned by the nonprofit, Beneficial State Foundation, which is in turn permanently governed in the public interest. That ownership allows the bank to prove and maintain an innovative model for banking that generates benefit for people and the planet while being financially safe and sound. Beneficial State is both a Community Development Financial Institution (CDFI) as designated by the US Treasury and one of the world’s top Certified B Corporations since it was awarded B Corp status in 2012. For additional information, visit Member FDIC, Equal Housing Lender.

Media Contact: Erin Musgrave (530) 864-7014