The Supervitamin Quarterly Newsletter, Issue 25

This issue, Issue 25, provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including an announcement that the Bank On movement has certified more than 200 bank and credit union accounts, with partner financial institutions comprising 56% of the U.S. deposit marketshare. Additionally, the issue describes the launch of a new pilot, Small Business Boost, to bring FEC financial counseling to small business owners and entrepreneurs; shares updates from the Financial Navigators initiative; and details a new expansion of the CityStart initiative to incorporate a racial equity lens. Additionally, this issue features a guest column from ChexSystems President Ron Whyte, highlighting how the ChexSystems Bank On bundle works to reduce the traditional barriers of negative banking history for under- and un-banked people. 

The Supervitamin Quarterly Newsletter, Issue 24

This issue, Issue 24, provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including an announcement of a new partnership with Bloomberg Philanthropies to help grow the municipal financial empowerment field. 

The CFE Fund announced a $19 million investment from Bloomberg Philanthropies to: expand FEC financial counseling through the launch of FEC Academy; support the creation of a new pilot to embed FEC financial counseling into eviction prevention services; build out the Financial Navigators initiative; and invest in a racial-equity focused CityStart initiative. Additionally, this issue includes updates on the 2021 Bank On National Conference which took place in mid-November, with nearly 500 partners in attendance from across the country. This issue also features a guest column from Detroit Mayor Mike Duggan, highlighting the City’s Summer Jobs Connect initiative work providing summer jobs and financial education for Detroit youth.

 

 

The Supervitamin Quarterly Newsletter, Issue 23

This issue, Issue 23, provides updates on the CFE Fund’s and partner cities’ financial empowerment efforts, including those related to COVID-19 recovery. 

In advance of the newly expanded federal Child Tax Credit monthly payments, the CFE Fund and Bank On coalitions are highlighting the availability of safe and affordable Bank On certified accounts; the CFE Fund recently announced that there are over 100 accounts certified as meeting the Bank On National Account Standards. Additionally, the Summer Jobs Connect initiative has launched its eighth summer, and the CFE Fund recently selected a new cohort of Financial Empowerment Center partners.  This issue also features a guest column from Robin McKinney and Sara Johnsonfrom CASH Campaign of Maryland, highlighting their work with the Maryland Department of Labor to offer Bank On certified accounts for residents receiving unemployment payments.

The Supervitamin Quarterly Newsletter, Issue 22

This issue, Issue 22, provides updates on CFE Fund’s and partner cities’ COVID-19 response efforts. 

Since the pandemic began, 31 cities and counties have launched Financial Navigators initiatives to provide phone-based financial triage and resource referrals; 35 municipal Financial Empowerment Center (FEC) partners are offering, or are working to launch, one-on-one financial counseling through FEC programs; and more than 80 Bank On coalitions are working to connect their communities to safe and affordable banking products so they can safely receive and use stimulus payments, unemployment benefits, wages, and more. This issue also features a guest column from Nick Gradisarthe Mayor of Pueblo, CO, highlighting the key role the CityStart and Financial Navigators initiatives have had in Pueblo’s emergency response.

The Supervitamin Quarterly Newsletter, Issue 21

This issue, Issue 21, details how the CFE Fund and our city partners continued to respond to COVID-19. Financial Empowerment Center initiative partners received CFE Fund support to meet increased demand due to the COVID-19 pandemic; the CFE Fund continued building out its newest program, the Financial Navigator initiative, to help cities provide remote financial triage and referrals; and the CFE Fund released the 2021-2022 Bank On National Account Standards. In addition, the CFE Fund announced the new cohort of Consumer Financial Protection Initiative grantees, who will focus first on a COVID-19 consumer awareness campaign and then plan for broader consumer financial protection capabilities within the city. This issue also features a guest column from the American Bankers Association (ABA) CEO and President, Rob Nichols, highlighting a recent partnership encouraging ABA partner banks across the country to offer Bank On certified accounts 

The Supervitamin Quarterly Newsletter, Issue 20

This issue, Issue 20, details the CFE Fund’s and city partners’ response to COVID-19. Financial Empowerment Center initiative partners pivoted to remote counseling; the CFE Fund announced a new program, the Financial Navigator initiative, to help cities provide remote financial triage and referrals; and Bank On coalition partners shared information about safe bank and credit union accounts that could be used to receive stimulus and other emergency payments. In addition, the CFE Fund announced the new cohort of Consumer Financial Protection Initiative grantees, who will focus first on a  COVID-19 consumer awareness campaign and then plan for broader consumer financial protection capabilities within the city. This issue also features a guest column from the City of Newark, New Jersey’s Mayor Ras Baraka on the city’s Summer Youth Employment Program plans as part of the Summer Jobs Connect initiative.

The Supervitamin Quarterly Newsletter, Issue 19

This issue, Issue 19, includes new highlights from the second CityStart cohort, exciting program updates from the growing Financial Empowerment Center (FEC) and Bank On national movements, as well as grant opportunities for the CFE Fund’s Local Consumer Financial Protection, Summer Jobs Connect, and newly-launched Wages Connect initiatives. This issue also features a guest column from the City of Rochester, New York’s Mayor Lovely Warren, highlighting the momentum established during Rochester’s CityStart engagement, which ultimately led to the creation of an Office of Community Wealth Building and the launch of the City’s Financial Empowerment Center (FEC) as part of the CFE Fund’s FEC Public movement.

The Supervitamin Quarterly, Issue 18

This issue, Issue 18, includes highlights from the second CityStart cohort, a newly selected Financial Empowerment Center (FEC) cohort, as well as exciting program updates for the CFE Fund’s Local Consumer Financial Protection, CityStart, Bank On, FEC, and Summer Jobs Connect initiatives. This issue includes the release of new findings from research on engaging unbanked people, featuring a guest column from the strategic communications firm RALLY, discussing the project, it’s findings, and the most effective messages to communicate with those who are unbanked about the value of safe bank accounts.

The Supervitamin Quarterly, Issue 17

This issue, Issue 17, includes highlights from the 2019 Bank On National Conference, a new Financial Empowerment Center (FEC) funding opportunity, as well as exciting program updates for the CFE Fund’s Local Consumer Financial Protection, CityStart, Bank On, FEC, and Summer Jobs Connect initiatives. This issue’s guest column is a summary of a conversation from the 2019 Bank On National Conference exploring the municipal connection to Bank On with Mayor Keisha Lance Bottoms of the City of Atlanta, GA; Mayor Chokwe Antar Lumumba of the City of Jackson, MS; and Mayor Frank Scott Jr. of the City of Little Rock, AR. It also includes local updates from the CFE Coalition, and recent financial empowerment news.

Supervitamin Quarterly, Issue 16

This issue, Issue 16, includes registration for the 2019 Bank On National Conference, exciting program updates for the CFE Fund’s Financial Empowerment Center (FEC) replication, CityStart, and Local Consumer Financial Protection initiatives; upcoming grant opportunities; and new Bank On resources. It also includes local updates from the CFE Coalition, and a guest column from Lin Lin Liang, Bank On Fellow for the Bank On Suncoast coalition.