Beneficial State Bank | Company Profile - Revenue, Headcount, Tech Stack, Contacts

Beneficial State Bank is a community-focused financial institution founded in 2007 by Kat Taylor and Tom Steyer. As a state-chartered, federally insured Community Development Financial Institution (CDFI), it aims to create a more equitable and sustainable banking model. The bank operates under a unique ownership structure where most economic rights are held by the nonprofit Beneficial State Foundation, allowing profits to be reinvested into low-to-moderate income communities and environmental initiatives.

The bank offers a wide range of financial products and services for individuals, businesses, and nonprofit organizations. For individuals, it provides savings and checking accounts designed to support financial stability. Businesses can access commercial accounts, cash management services, and various lending options. Nonprofits benefit from specialized accounts and financing for community development projects. Beneficial State Bank also emphasizes financial literacy and technical assistance through its foundation, enhancing the capacity of its customers. With a focus on serving low-to-moderate income individuals and communities in California, Oregon, and Washington, the bank is committed to promoting social justice and environmental sustainability.