Beneficial State Bank Focuses On Building Community

Forbes
Monday, August 25, 2014

In a video interview with Forbes Magazine, Beneficial State Bank CEO Kat Taylor discussed the bank's new social impact metrics, its rebranding from OnePacific Coast Bank and the power of community development banking. "If you think about any of the practices in the world that we need to change, they're all enabled and amplified by finance," Taylor said. "Finance -- and the banking system in particular -- is what amplifies the whole money supply and facilitates commerce. It's what allows growth and when we get it right, it's very very good and when we get it wrong it's very very bad. So it seemed particularly important to us to suggest a way of banking that would actually be beneficial."