OnePacificCoast Bank will improve economic opportunity for low-to moderate-income communities throughout California, starting in Oakland. It will partner with respected community institutions to provide banking services to small to medium-size businesses, non-profit organizations, community facilities, affordable-housing developers, individuals and families.
Banking services will be integrated with financial literacy, technical assistance and business education supported by OnePacificCoast’s supporting non-profit organization, OnePacificCoast Foundation.
The Bank maintains a triple bottom line focus of meeting its social mission while operating in a safe, sound and sustainable manner.
A designated Community Development Financial Institution (CDFI), OPCB was founded on the premise that traditional banks have failed to adequately serve businesses and individuals in many low- and moderate-income (LMI) markets nationwide. OPCB has devoted itself to serving this segment. More recently, OPCB has adopted an additional focus on environmental sustainability, resulting in a three-part mission to:
OPCB focuses its lending on community development in urban LMI communities in the San Francisco Bay Area and on sustainable business and housing, including neighborhood stabilization lending, throughout the Bay Area. A substantial portion of its deposits come from customers attracted to its community development mission.
The Bank offers a wide range of loan and deposit products to serve the needs of its customers. Deposit products include personal and business checking accounts, online banking, business cash management and merchant services, and deposit products specifically tailored to previously unbanked and underbanked customers. The Bank also offers mission-based deposit products that allow individuals, businesses, and nonprofits to support the Bank by accepting below-market interest rates.
Lending products include residential and commercial real estate loans, commercial and industrial loans, SBA small business loans, and, starting in 2011, affordable small-dollar consumer loans. The Bank will focus especially on lending that supports affordable housing and green industries.