Do you ever wonder what happens to your money when you deposit it into a bank?
It doesn't just sit in a vault. It gets leveraged and loaned out to businesses and individuals alongside others' cash. When you choose a bank, you choose a company that will invest your money. If you bank with Beneficial State Bank, you can rest knowing that your money is going to local businesses, nonprofits, and individuals in need, and never to harmful actors. At least 75% of our lending goes toward our mission categories, and the rest never funds toward projects or organizations that cause harm.
Not all loans are equal. Some banks loan your money to small businesses or help people buy a car or a house. But other companies, like oil and gas producers, weapons manufacturers, and builders of private prisons, all take out loans, too. According to the Rainforest Action Network, "In the five years since the Paris Agreement, the world's 60 biggest banks have financed fossil fuels to the tune of $3.8 trillion." If you put your money in some banks, your money might be working to fund these projects without your consent.
Learn more about Beneficial State Bank’s lending policy.