Collaborating & Engaging
We seek to advance the field of equitable banking by partnering with advocates and campaigners to build their capacity, convene and connect the field, and promote solutions to the public. Starting as a new focus area of Beneficial State Foundation in late 2018, our growing efforts have been and continue to be meaningful.
- Increase the connectedness and sharing between banking systems change and social justice movement spaces.
- Partner with mission-aligned banks and advocacy organizations to promote divestiture and alternative banking solutions.
- Support power-building campaigns at the intersection of social, racial, and environmental justice and banking.
- Increase the number of people receiving and engaging with equitable banking-related content from Beneficial State Foundation media channels.
- Catalyze audiences to take action for banking systems change through speaking engagements, stakeholder convening, digital media, and popular education.
We engage directly with banks and industry associations to develop, adopt, and spread equitable and triple-bottom-line banking standards, practices, and behaviors. Our industry relations work launched in mid-2019.
- Work together with banks and banking associations in gaining a clear understanding of the financial services industry landscape to support each other in building an equitable banking system.
- Enhance equitable banking standards and impact protocols in the industry in partnership with banking association efforts.
- Develop and share tools, materials, and templates for banks seeking to make progress on implementing equitable banking standards.
- Inspire the next generation for equitable banking leaders through leadership development programming.
Working in coalition, we advocate for an equitable and triple-bottom-line banking regulatory and policy agenda.
- Secure U.S. Treasury budget of at least $350 MM for the CDFI (Community Development Financial Institutions) Fund.
- Prevent erosion of Community Reinvestment Act (CRA) standards and instead ensure that CRA reforms provide additional support and protections for low-income communities, communities of color, and the environment.
- Support the creation of a state-level Consumer Financial Protection Bureau (CFPB) in California.
- Support the creation of public banks, including public bank legislation in the state of California.
- Advance efforts to strengthen the federal CFPB and its ability to protect consumers.
- Develop and deepen Beneficial State Foundation’s relationships with local communities engaged in banking reform that is grounded in social and environmental justice and community wellbeing.
To help build the pipeline for the next generation of leaders, Beneficial State is proud to offer an intensive summer fellowship program that provides valuable work and learning experience to students interested in beneficial banking, community economic development and responsible financial services.
Fellows work on challenging Bank and Foundation projects, complete deliverables designed to contribute to their educational and career development, and present to Beneficial State’s staff and senior leadership team at the end of the program. Learn more about the program and our previous cohorts.
2019 Summer Fellowship Projects Explored:
- Credit Card Product Research
- Equitable Banking Research
- Clean Vehicle Assistance Program Outreach
- Mission Principles and Policies
- B Corp Research and Outreach
- Impact Data and Deposits Research
- Organizational Development and Culture
- Solar Power Finance, Research, and Strategy
- ITM Research and Development
- Strategic Communications