Key Takeaway

These Principles serve as a template for semi-formally outlining partnership expectations between local Bank On Coalitions and financial institutions.

In addition to offering standardized and robust National Account Standards upon which coalitions and their financial institution partners may rely, the CFE Fund has worked with its National Advisory Board to develop model best practices for defining their successful relationship. The Statement of Financial Institution Partnership Principles provide a template to harmonize goals and guide partnerships with shared expectations.

Additional Takeaways

Shared goals include improving the financial stability of unbanked and underbanked residents in the community.

Partnering financial institutions should publicly offer and market to consumers a transactional account that meets Bank On National Account Standards.

Financial institution partners should support Coalition efforts through facilitating branch connections, supporting communications efforts, and underwriting Coalition activities as feasible.

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