Affordable Housing

A woman and three children sit in front of their home, provided through Our Just Future, a Beneficial State Bank client.
Photo by Christine Dong, courtesy of Our Just Future.

Affordable housing is a necessity

Housing is one of our most basic human needs. We make a positive impact through our lending practice — investing depositor dollars in endeavors that serve our communities. That includes financing the development, preservation, and renovation of affordable housing on the West Coast. Supporting deed-restricted affordable housing development and renewal is central to our mission.

California, Oregon, and Washington are all in the top 7 states with highest levels of unhoused individuals in the country, with California in the top position.1 We have lent hundreds of millions of dollars to affordable housing developers in all three states, supporting the development of over 8,400 units.2

    CDFI logo from the US Department of the Treasury

    We’re proud to be a Community Development Financial Institution (CDFI)

    As one of the nine CDFI banks on the West Coast, our impact is rooted in our commitment to shared prosperity. With our focus on lending to affordable housing, local businesses, and impactful nonprofits, Beneficial State Bank is creating positive impacts in low-to-moderate income (LMI) communities.

    Our affordable housing impact


    State outline of California in orange

    6,488 Affordable Units


    State outline of Oregon in orange

    1,492 Affordable Units


    State outline of Washington in orange

    854 Affordable Units

    Impact data as of December 31, 2021.

    The exterior of an affordable housing development
    Photo courtesy of Do Good Multnomah.

    Competitive terms. High-touch service.

    • High-touch client service with an experienced and dedicated Affordable Housing team
    • Competitive fixed rates
    • Reduced origination and bank fees
    • Efficient underwriting and closing

    Supportive banking services

    • Operating and Treasury services
    • Property management deposit accounts
    • Individual Development Accounts (IDAs) and Sponsor Programs
    • Financial wellness educational classes or 1-on-1 financial coaching

    Our clients

    The vast majority of our housing development lending goes to affordable housing projects, specifically deed-restricted and HUD Housing Assistance Payments properties (Section 8 housing). Affordable housing is a foundational part of our lending and we are proud of what our clients do every day to combat our housing crisis.

    A chat bubble with a smile on it

    To learn about our affordable housing banking services, please reach out to our team.

    1 State of Homelessness: 2023 Edition. National Alliance to End Homelessness.

    2 Beneficial State Bank Impact Report.