The CFE Fund’s 2017 National Bank On Conference brought together key stakeholders from multiple sectors across the country.
Keynote addresses were delivered by Federal Deposit Insurance Corporation Chairman Martin J.
The CFE Fund’s Bank On Listserv is an online community for Bank On coalition members, financial institutions, academics, and other stakeholders interested in banking access efforts.
In this April 2017 press release, the CFE Fund announced the Bank On Fellowship Program, generously funded by Wells Fargo. Through the program, the CFE Fund will provide match funding up to $45,000 per year for two years to as many as five Bank On coalitions to support a full-time Fellow to lead coalition’s activities.
This issue, Issue 10, includes updates on the Bank On initiative; a sneak peek of findings from the upcoming Financial Empowerment Center evaluation; and updates on the Summer Jobs Connect initiative.
This March 2017 press release details the Citi Foundation’s ongoing support; their $5 million investment will provide more than 2,400 low-income youth with summer jobs and access to financial education as part of Summer Jobs Connect in 2017.
This January 2017 press release announces a suite of new Bank On resources: Bank On National Account Standards, updated for 2017-2018; a free online Bank On account validation and certification process; and the opening chapters of the Bank On Coalition Playbook, a new resource to help equip local coalitions for banking access success.
The updated Bank On National Account Standards, identify critical product features for appropriate bank or credit union accounts. Core account features include low costs, no overdraft fees, robust transaction capabilities such as a debit or prepaid card, and online bill pay.
The CFE Fund leads a national movement that supports local Bank On coalition efforts to expand banking access for consumers outside the financial mainstream, including through municipal infrastructure.
The CFE Fund invites financial institutions with products they believe meet Bank On National Account Standards (2017 – 2018) to apply for validation, and invites local Bank On coalitions to connect financial institutions with whom they are considering partnering in their communities to do so.
The CFE Fund’s Bank On Coalition Playbook provides tools and resources that local coalitions can use to do their work more effectively. The CFE Fund will continue to release new chapters throughout the year; resources include chapters on Guiding Principles for the Bank On movement, a template Statement of Principles for articulating partnership expectations between local Bank On Coalitions and financial institutions; information on the Bank On Account verification and certification process; and a Bank On listserv.