New Survey Reveals Majority of Bankers Want to Support Community Wellbeing

Recent polling shows that four in ten people want banks to make stronger commitments to fairness, reduce environmental harm, advance social outcomes for workers and communities, and strengthen accountability. In an industry often seen as purely profit-driven, customers want to see banks prioritize people and the planet alongside their bottom line.

The good news is that banking professionals feel the same way. 

How do we know? Beneficial State Foundation recently partnered with Arizent and American Banker to survey over 100 banking professionals about what drives decisions about new products, features, or services at their institutions. What we discovered challenges common assumptions about what motivates banks — and reveals significant untapped potential for community-centered banking.

1. Community need can drive product innovation, even without immediate profit

According to Beneficial State Foundation’s survey, changes to product or policy are most often driven by profitability. But, surprisingly, 98% of survey respondents say their bank is willing to bring forward a new product or service that does not present an immediate profit opportunity.

What would motivate them instead?

• 63% said they’d be driven by demonstrated community need or market demand
• 58% by brand differentiation
• 43% by a desire to make a positive impact
• Only 2% said immediate profitability is necessary to bring products to market

This finding challenges the assumption that banks only act when there’s a clear path to profit. The reality is more nuanced: banking professionals recognize that meeting community needs and building trust can create long-term value, even when short-term returns aren’t guaranteed.

2. DEI and ESG labels are waning, but impact remains

Our survey found that new products and services are most often introduced by product development or innovation teams (63%) or division heads (56%), providing a clearer picture of where new offerings tend to originate within banks today. Meanwhile, Chief ESG/Impact Officers (5%) and Chief DEI Officers (2%) are among the least influential in introducing new offerings.

This finding aligns with what the RepTrak polling revealed: banks gain the most reputational benefit when they act on values without leaning on ESG or DEI labels. In the current political environment, this is critical.

What matters is action, not acronyms. Financial institutions can advance equity and community wellbeing through everyday product decisions, underwriting practices, and operational choices — driven by teams across the organization, not just those with “impact” in their titles.

3. Bankers are ready to learn how to better serve their communities

Perhaps most encouraging: 69% of respondents in our survey are interested in learning more about ways to develop and deliver banking that supports communities and financial well-being.

There is a big appetite for learning how to make a difference. Banking professionals are seeking tools, frameworks, and examples that can help them translate values into practice — and they’re looking beyond their own institutions for inspiration. Financial institutions look to fintechs, other institutions known for innovation, and large banks for ideas, and 72% of banking employees attend conferences to learn about banking-related topics.

What This Means

For banks: Both potential customers and employees want financial institutions to do more for their communities. If you lean into these trends, you can net positive reputational and customer gains. To do so, cultivate champions for financial inclusion within the bank — across product teams, innovation departments, and division leadership. Recognize that advancing equity doesn’t require an ESG officer or DEI label. It requires commitment to community wellbeing embedded in everyday decisions about how your bank operates.

For customers: There are banks that explicitly prioritize serving the needs of people and the planet. Seek them out. Ask questions about how institutions make decisions, what communities they serve, and how they measure impact beyond profit.

For financial professionals: You are not alone. There is a growing movement of banking professionals who want to do well by doing good — and there are tools to help you support community wellbeing and change the banking system for the better.

At Beneficial State Foundation, we work every day to support financial institutions in developing products and practices that repair harm, expand access, and build community wealth. Our initiatives — including Underwriting for Racial Justice and the Equitable Bank Standards — provide practical frameworks and opportunities for banking leaders ready to move from intention to action.

If you’re interested in learning more about how to bring equitable, community-centered innovation to your institution, we invite you to explore our resources and connect with us. Follow us on social media (LinkedIn, YouTube, Facebook, Instagram, X, and Bluesky) for updates, insights, and tools as we continue to advocate for a banking system that truly serves all communities.