Beneficial State Bank was founded to prove that there is a more viable, equitable, and sustainable model for banking.
For too long, banks worldwide have enabled the concentration of wealth and power by investing in and lending to exploitative and harmful industries.
We believe that banks should nourish our communities, not extract from them. Together, we can create a new banking system that is inclusive, racially- and gender-just, and environmentally regenerative. Beneficial State Bank operates every day from the belief that banking can be better, and we strategically partner and align with like-minded people, partners, and other banks to work together to build this new reality.
What is the Global Alliance for Banking on Values (GABV)?
The Global Alliance for Banking on Values (GABV) is an international network of independent banks using finance to deliver sustainable economic, social, and environmental development. The membership’s collective goal is to make the banking industry more transparent and support positive economic, social, and environmental change. Beneficial State Bank has been a member since 2012. Today, GABV’s growing membership includes banks across more than 45 countries in Africa, Latin America, Asia Pacific, North America, and Europe.
Why does GABV exist?
GABV’s member banks are committed to finding local solutions to global problems and promoting a positive, viable alternative to the current financial system. As members, we share a commitment to the six principles of values-based banking:
All of these principles are embedded in the leadership and culture of our bank.
We must fix our financial systems to have a viable future for ourselves and future generations. GABV strongly believes that we cannot fix the climate crisis without fixing the systems that finance the industries causing irreparable harm.
Beneficial State Bank is proud to be a part of this coalition of values-based banks from around the world committed to demonstrating that banking can be profitable and serve our communities and planet at the same time.
How does a bank become a GABV member?
To become a GABV member bank, each prospective bank is evaluated against a comprehensive set of criteria, and progress is monitored over time. Basic requirements include a values-based mission, being a regulated bank or credit union, commitment at the CEO level, and a minimum of $50 million in total assets. Learn more about GABV’s membership requirements.
How do you know if your bank is a member of GABV?
There are 16 GABV member banks operating in North America. Learn more about GABV’s members.
Where you bank makes a difference.
Your bank uses your deposits to make investments and loans. By choosing to bank with a GABV member, your deposits support local investments in affordable housing, small businesses, nonprofits, and environmentally regenerative projects. Whether you are an individual or an institution, where you put your money matters. Move your money to a bank that values people, planet, and profit equally.
A Beneficial Bank serves the triple-bottom-line of People, Planet, and Prosperity for All. That means prioritizing social justice and environmental sustainability. Change your bank and help change the world.