July 21st, 2014 – GABV member One PacificCoast Bank has changed its name to Beneficial State Bank. The rebranding builds on the institutions’ heritage as a pioneer of values-based banking in the US.
Built on a commitment to social justice, environmental well-being, and financial sustainability, OneCalifornia Bank began in 2007 to offer fair and transparent commercial loans, transactional services, savings products, and financial assistance. Along the way, OneCalifornia Bank merged with ShoreBank Pacific, expanding its reach to Oregon and Washington, and settled temporarily on the name of One PacificCoast Bank. Since then the bank has worked on an identity that fits it better and reflects its vision, mission and commitment to a triple bottom-line, rather than merely the geographical region it serves.
The re-naming reinforces the bank’s aims to build prosperity in its communities through beneficial banking services for individuals, businesses and nonprofits, delivered in an economically and environmentally sustainable manner. The bank’s unique ownership model benefits its wider stakeholders too because all of the economic rights of Beneficial State Bank are owned by a non-profit, Beneficial State Foundation, which is mandated to re-invest all profits, whenever distributed, back into the low-income communities it serves and the environment upon which we all depend.
To remind co-workers and customers alike of the promise of a new banking system, Beneficial State Bank’s logo will be an Acorn — a tiny seed from which mighty oaks spring.
Article courtesy of beneficialstate.com.