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Beneficial State Bank Reports $762M in 2021 Values-Aligned Loans

Beneficial State Bank Reports $762M in Values-Aligned Loans

Oakland, CA-based Beneficial State Bank has released its 2021 Impact Report, revealing $762 million in loans went toward affordable housing, environmental sustainability, fair auto loans and more. The bank was also awarded $218 million in mission-aligned funds from the U.S. Treasury.

“Beneficial State Bank’s mission is to practice beneficial banking in harmony with nature, to help more people and help people more,” said the bank’s CEO Randell Leach. “I am proud of our team for achieving amazing results in 2021 and demonstrating that socially responsible banking isn’t just possible, it’s essential to a sustainable and inclusive economy.”

In 2021, Beneficial State Bank provided $286 million in loans to mission-aligned affordable housing, supporting over 8,700 units. The bank also loaned $94 million to the environmental sustainability sector, plus $93 million to the Paycheck Protection Program, supporting 778 small businesses.

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Beneficial State BankRandell Leach

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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