Better Banking Blog
Our Impact

Supporting Our Team

Sep 13, 2022

Four staff members stand outside Beneficial State Bank's Rose City branch in Portland, OR.

At Beneficial State, we want to build an economy that works for everyone, starting with our team. We pay living wages, offer comprehensive benefits, and empower staff to advocate for a just and inclusive workplace. Our team members are fierce changemakers in the Beneficial Banking™ movement. As they do their important work, our leadership team works to build trust across the organization, support staff resilience, and ensure that our team composition reflects the inclusiveness we strive to foster in banking.

Beneficial employment at Beneficial State Bank

In 2021, our benefits include:

  • 125% Living Wage Policy
  • Full medical benefits with employer contribution
  • 401k plans with generous employer match
  • 32 hours of paid volunteer time per year
  • $250 charitable donation employee match
  • 1:9 highest–lowest salary ratio versus 1:196 average CEO: median salary ratio of top 20 banks

You are welcome here

We are dedicated to recognizing and addressing how our biases appear. We intentionally work to foster a culture of inclusion where everyone is a valued member of our team and treated with empathy, respect, and dignity. We commit to supporting today and each day to dismantle systemic racism. We commit to hearing feedback when our actions fall short of our intentions. We firmly believe that to build a more just world, we must demolish white supremacy.

We strive to ensure that those who work and bank with Beneficial State, no matter their identity, feel in their hearts the words they experience when they walk into our branches: YOU ARE WELCOME HERE.

Supporting worker power in the banking industry

In 2021, Beneficial State Bank reached a collective bargaining agreement with staff and Communications Workers of America (CWA), marking the first time bankers established a union agreement in over 40 years.

Beneficial State is proud to set a strong example for the rest of the banking industry, which has little unionization and often pays workers very low wages. We value our employees and see unionization as an opportunity for our employees to organize and have a collective voice.

Beneficial State Bank CEO and Communication Workers of America representative shake hands after signing our collective bargaining agreement

Diversity, equity, and inclusion

In 2021, we launched a Diversity, Equity, and Inclusion (DEI) Educational Enrichment Series as part of our commitment to embrace diversity and promote equity and social justice within our organization. Through town halls and workshop sessions, guest speakers, and a library of resources, we are educating ourselves in ways that we can support and effectively foster social justice, equity, and diversity within our organization, our communities, and society at large.

We're proud to support our employees, so we can all support our communities. Read our full impact report to learn more.

Ready to align your banking with your values? Open your account with Beneficial State Bank today.

Member FDIC, Equal Housing Lender