Beneficial State Bank (Beneficial State) is a State Chartered Bank, regulated by the Department of Business Oversight (DBO), and the FDIC. Chartered in 2007 under a unique foundation ownership model, Beneficial State Bank has local branches in CA, OR and WA. We offer checking, saving, loans, credit cards, online and mobile banking and everything else you’d expect from a bank — but we exist to serve your prosperity and goals, not to profit from them.
With 100% of the bank’s economic rights belonging to Beneficial State Foundation, any profits when distributed must flow into a public charity mandated by our bylaws to invest in low-income communities and the natural environment. We are also proud to be a certified B Corporation, which means we prioritize people, the planet and profit.
The Public Banking Institute (PBI) was formed in January 2011 and is a national educational non-profit organization working to achieve the implementation of public banking at all levels of the American economy and government: local, regional, state, and national.
We are part of the New Economy movement and are steadily advancing innovative short and long-term solutions to the damage caused by the Wall Street cartel and a dysfunctional banking system; and are regularly called on to provide expertise in subjects as diverse as bank capitalization, applicable banking regulation, governance, loan portfolio makeup, risk management and the newly proposed U.S. Postal Savings Bank.
Our vision is a national network of public banks, administered as public utilities that serve the public interest, run by public servants, providing transparency and accountability to the public.