Beneficial State Bank is an innovative, triple-bottom line, community development financial institution. Started in 2007, BSB came from a shared vision to start a bank that finances community-based businesses, builds the long-term prosperity of responsible consumers and supports companies that have a commitment to the environment. BSB has a one of a kind ownership structure-- its profits, when distributed, can only be distributed to Beneficial State Foundation to support our communities & environment. By design, the community is the shareholder that BSB serves, not special interests of any one group.
Providing credit to constructive businesses and non-profits -- especially those boosting entrepreneurial activity in inner cities, following and strengthening wellness models, or reconnecting vital rural/urban dependencies -- is our main business. Credit allows these beneficial activities to grow and scale. We also believe that a healthy environment is the only reliable foundation for economic prosperity. Finally, the Bank must be a catalyst for positive change in our communities by providing fair, transparent, and sustainable banking products and services as alternatives to more predatory practices that otherwise unwind the benefits of our lending practice.