Beneficial State Bank's 2014 Annual Beneficial Banking Report caps a year of major change for the bank. In July, Beneficial launched a major rebranding which included dropping its former name, One PacificCoast Bank. Beneficial State Bank lent $347 million in 2014, 81 percent of which went to mission-oriented causes. In 2014, Beneficial provided $156,900 in sponsorships to community organizations – ten percent of its total profits. Also in 2014, Beneficial launched the Personal Builder Loan, a consumer loan targeted at the underserved offered in partnership with LendUp Technologies. Beneficial has taken major steps to cut carbon emissions, cutting its greenhouse gas emissions 27% per FTE since 2011 and purchasing carbon offsets to become carbon-neutral.

A growing number of CDFI banks, including Virginia Community Capital, Sunrise Banks and Beneficial State Bank, are becoming certified B Corps -- corporations that use business to achieve social impact. For these banks, the B Corp label is an affirmation of their positive work bringing capital to underserved communities. For customers, it acts as a signal that the banks maintain high ethical standards to social and environmental goals. “Being a part of the B Corp community gives us the opportunity to stay focused on our mission to provide innovative capital promoting vibrant local communities and enriching people’s lives throughout Virginia,” said Jane Henderson, President and CEO of Virginia Community Capital. 

Minority-owned banks are crying foul after being shut out of this year's round of the New Markets Tax Credit (NMTC) program. The NMTC program provides a tax credit to investors who invest in low income communities by funneling their investments through NMTC allocatees. None of the 76 NMTC allocations made this year were awarded to a minority bank. A 2009 study by the Government Accountability Office found that only about 9 percent of minority entities were successful when applying for NMTC allocations, compared to 27 percent of non-minority applicants. "We need our CDFI Fund to do more; we need a real change that will allow us to receive allocations so we can use these resources to improve our communities," said Preston Pinkett, CEO of City National Bank and chairman of the National Bankers Association. 

A report by the Pew Charitable Trusts finds that reloadable prepaid cards are rising in popularity among consumers, particularly the unbanked. Unbanked consumers increasingly treat their cards as checking accounts, using them to receive direct deposits and pay bills. Prepaid card usage increased 50 percent between 2012 and 2014 and 23 million adults in America now use prepaid cards regularly. Much of this growth occurred among consumers with bank accounts who purchased a card at their bank or credit union. Among the risks of the new trend: the report found that many consumers did not fully understand their cards' liability limitations for unauthorized transactions or the binding arbitration clauses mandated by most prepaid cards.