Beneficial State Bank is a social enterprise bank founded in 2007 with a triple-bottom-line focus on social justice, environmental resilience, and economic sustainability. Beneficial State is a state-chartered, federally regulated bank whose economic interest is owned by a non-profit foundation of the same name. Beneficial State is mandated to produce meaningful social justice and environmental benefits in an economically sustainable manner. The merger greatly expanded the Bank’s reach on the West Coast and enhanced its capacity to serve its mission. ShoreBank Pacific, a pioneer of environmentally sustainable banking, served both Washington and Oregon. The joint forces produced an enlarged footprint covering a bio-regional territory some call the Salmon Nation and united the synergies of social justice and ecological banking. A few years later in October 2013, Beneficial State Bancorp completed a stock purchase transaction of 90% of Albina Community Bank, bringing a Portland-based community bank that has been investing in individuals, families, businesses, and local neighborhoods for over 20 years, into their family. In June of 2016, Beneficial State Bank merged with Pan American Bank. The Beneficial State branch network serves Northern and Southern California, the Portland Metro Area in Oregon, and Seattle, Washington. Beneficial State, a community development financial institution, has been a certified B Corporation since 2013 and has been honored as “Best for the World,” a designation reserved for the top 10% of all B Corps based on environmental, community, and worker impact. Overall, Beneficial State is one of the top 10 B Corps worldwide on the B Corp impact assessment. Follow us on Twitter: https://twitter.com/BeneficialState
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