Member FDIC. Equal Housing Lender.
We’re a Proud Certified B Corp Bank
Banking as a Force for Good
We’ve been a certified B Corp since 2012 and are one of just sixteen certified B Corp banks in the United States. While most banks focus solely on profit, we equally prioritize the well-being of people, the health of the environment, and our long-term financial sustainability.
What Is a B Corp?
B Corporations are for-profit companies that balance the interests of all their stakeholders, including customers, workers, environment, and community. Most banks and businesses have a single bottom line: profit. B Corps embrace a triple bottom line: people, planet, and profit, because a single bottom line (profit) is not enough. People and planet are equally important to long-term success and sustainability.
In 2011, there were 400 certified B Corps, primarily based in North America. Now, there are over 10,000 B Corps across the globe. Beneficial State Bank encourages all companies to embrace B Corp principles: doing good is good business.
How Does a Company Become a B Corp?
To become a B Corp, companies must:
- Amend their governing documents to embed their mission into their corporate structure
- Take the rigorous third-party B Impact Assessment
- Meet standards across seven Impact Topics, including Purpose and Stakeholder Governance, Climate Action, Human Rights, and more
- Commit to continuous improvement over time, with additional requirements to meet after three and five years
The B Impact Assessment quantifies the positive impact we make in the world and helps us continue to raise the bar for ourselves each time we are evaluated.
Why Beneficial State Bank Became a B Corp
The financial industry has a long history of exploiting local communities and our natural world. As a bank founded to prove there is a better way to do business, B Corp certification helps us hold ourselves accountable and identify blind spots. Through B Corp certification, we consistently measure and improve how our business practices impact our workers, clients, communities, and the planet.
Make Impact by Banking with a B Corp Bank
When you bank with a certified B Corp bank, it means your money is being used responsibly. For our clients, that means their dollars are supporting affordable housing development, local small businesses, and solar projects instead of pipelines, weapons, and prisons. B Corp banking is also a way to cast a vote for more ethical business practices in general. Your money holds power.
Beyond banking, every purchase you make has an impact. Find B Corps to use in every area of your life to amplify your impact.
Supporting the Global B Corp Movement
We’re proud to support the broader B Corp movement throughout the year. Whether our team is serving on B Local boards or attending national B Corp events, it’s important for us to support this growing community. It’s one way we help to shape global business into a more sustainable sector.
The Bank for B Corps
We have a full suite of banking products and services for B Corps and mission-driven businesses, helping you align your money with your business's values. Banking – the original form of crowdfunding – is one of the most overlooked impact levers a business can pull. Learn more about how we can support your B Corp business banking needs.
Upholding Our Mission with Integrity
Beyond B Corp certification, we voluntarily adhere to several third-party certifications and memberships from globally recognized, independent organizations. Those include Fossil-Free certification, GABV membership, and Community Development Financial Institution (CDFI) certification. We’re also proud to be the only unionized community bank in the U.S.
We're on a journey to help raise the standards for the banking industry – and that starts with ourselves.
Spotlight on B Corporations
As a B Corp bank, we are proud to support other B Corps that show that business can be a force for good.
