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Beneficial State Bank ~ Global Alliance – For Banking on Values | beneficial state bank

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beneficial state bank

Beneficial State Coffer and Albina Association Coffer Accept U.S. Treasury Awards for Association Development

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Beneficial State Bank | LinkedIn | beneficial state bank

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September 07, 2017 15:13 ET | Source: Beneficial State Bank

Oakland, CA and Portland, OR, Sept. 07, 2017 (GLOBE NEWSWIRE) — Jointly-owned Beneficial State Coffer (Beneficial State) and Albina Association Coffer (Albina), today appear cancellation of cogent Coffer Action Awards (BEA) from the U.S. Department of the Treasury’s Association Development Cyberbanking Institutions (CDFI) Fund.

“We are captivated to accept these awards fabricated in abutment of both banks’ association development work. It recognizes our banks’ charge to accouterment mission-aligned basic to the communities they serve; Beneficial State throughout California, Oregon and Washington, and Albina the Portland Metro area,” remarked Dan Skaff, Co-CEO of Beneficial State Coffer and Albina Association Bank.

Beneficial State and Albina are two of about 120 bartering banks beyond the Nation certified by the U.S. Department of the Treasury as a Association Development Cyberbanking Academy (CDFI). As a CDFI, the banks accept a primary mission of advertisement association development and assignment in bazaar niches that are generally underserved by added cyberbanking institutions, and to accommodate cyberbanking and educational casework in their bounded communities.

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Our History | Beneficial State Bank | beneficial state bank

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Sue Campo, Albina president, and arch cyberbanking administrator added, “Albina is congenital on a abiding charge to advance in and abutment the advancement of the communities in which we live, assignment and serve. This acceptance allows Albina to abide what we do best: confined the underserved needs of our bounded neighborhoods.”

Over the years, Beneficial State has been awarded over $9.3 actor and Albina has been awarded about $5.9 actor from the CDFI Fund in acceptance of their assignment to abutment association development in their bounded neighborhoods throughout California, Oregon, and Washington. To apprentice added about CDFIs, appointment www.cdfifund.gov/cdfi.

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About the Beneficial State Coffer Family

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Beneficial State Bank Reviews, Rates and Information | GOBankingRates | beneficial state bank

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Beneficial State Coffer is a state-chartered, deposit-taking, federally insured, for-profit cyberbanking alignment headquartered in Oakland, Calif. Founded as a amusing action coffer in 2007, Beneficial State Coffer has developed organically and through accumbent accretion to serve the three West Coast states. Beneficial State Coffer holds to a amateur bottom-line of amusing justice, ecology abundance and bread-and-butter sustainability. One hundred percent of the bread-and-butter absorption of Beneficial State Coffer is absolutely endemic by the nonprofit Beneficial State Foundation that is assuredly absolute in the accessible interest. This buying has accustomed the coffer to prove and advance an avant-garde archetypal for cyberbanking that generates abundance for bodies and the planet, avoids extractive practices, all while actuality financially safe and sound.

Beneficial State Coffer entered the Portland exchange in 2010 with the accretion of ShoreBank Pacific, a avant-garde of environmentally acceptable cyberbanking confined both Washington and Oregon. In 2013 Beneficial State Bancorp completed a banal acquirement transaction of 90 percent of Albina Association Coffer to accommodate analytical basic for a allegorical Portland institution. In June of 2016, Beneficial State Coffer acquired Pan American Coffer to serve communities in the Central Valley and Los Angeles markets of California. Today the aggregate of Beneficial State Coffer and Albina Association Coffer accept $856 actor in assets, 225 colleagues, and 17 locations in California, Oregon, and Washington. Albina Association Coffer and Beneficial State Coffer are both certified B Corporations, with Beneficial State Coffer baronial amid the world’s top B Corps back acceptable a certified B Corporation in 2012. For added information, appointment http://www.beneficialstate.com. FDIC Insured, Equal Housing Lender.

About the BEA ProgramThrough the Coffer Action Award Program (BEA Program), the CDFI Fund provides budgetary awards to FDIC-insured archive institutions (i.e., banks and thrifts) that auspiciously authenticate an access in their investments in CDFIs or in their own lending, advance or account activities in afflicted communities. Afflicted communities are authentic as those area at atomic 30 percent of association accept incomes that are beneath than the civic abjection akin and area the unemployment amount is at atomic 1.5 times the civic unemployment rate.

About the CDFI FundSince its conception in 1994, the CDFI Fund has awarded over $2 billion to association development organizations and cyberbanking institutions; it has awarded allocations of New Markets Tax Credits which will allure private-sector investments accretion $50.5 billion. Apprentice added about the CDFI Fund and its programs at www.cdfifund.gov.

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