The CFE Fund’s Bank On national initiative supports local coalitions with strategic and financial support, as well as liaising nationally with banking, regulatory, and nonprofit organization partners to expand banking access, including through the first-ever Bank On National Account Standards.
The CFE Fund’s Bank On Fellowship program, generously supported by Wells Fargo, provides funding and in-kind technical assistance to support a full-time Fellow to lead their coalition’s activities. The CFE Fund recently announced the fourth cohort of Bank On Fellows: Bank On Arizona (State of Arizona); Bank On CLE (Cleveland, OH); Bank On Inland SoCal (San Bernardino and Riverside County, CA); Kentucky Bank On Network (State of Kentucky); Bank On New Mexico (State of New Mexico); Bank On Northeast Louisiana (Northeast Louisiana).
Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities.
The CFE Fund’s CityStart initiative offers local governments a structured approach to identify financial empowerment goals, convene relevant stakeholders for sustainable success, develop actionable strategies, and ultimately craft a blueprint that is rooted in local insights and opportunities to consider and expand access to wealth.
This two-phase action engagement connects critical insights about the impact of financial instability on municipal governments with tangible, sustainable strategies to improve families’ financial lives. The first phase of the initiative is a learning phase, where the CFE Fund and municipal partners look to analyze the local landscape, including wealth extraction and accumulation impacting access to wealth; collect relevant data; and engage in intensive stakeholder roundtables to identify key challenges and opportunities. This also includes a resident engagement effort. Based on issues identified in the learning phase, as well as administration priorities, the CFE Fund works with local government partners on a design phase to craft a comprehensive, government-led financial empowerment blueprint; check out past CityStart blueprints from the City of Cincinnati and the City of Newark.
The CityStart initiative stems from the CFE Fund’s extensive work with local government leaders, and connects critical on-the-ground insights about the impact of financial instability on families, communities, and municipal budgets with tangible, measurable, and sustainable municipal strategies to improve residents’ financial lives. CityStart cities have historically leveraged their engagement with the CFE Fund to further their commitment to this work.
The CFE Fund is currently accepting applications for the next CityStart cohort. If you have any questions about the CityStart initiative, contact Sol Vilera Ramos, Principal.
Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. In addition to connecting people to safe and affordable accounts, Bank On coalitions also work to raise public awareness, target outreach to the unbanked, and expand access to financial education.
The CFE Fund’s Bank On national initiative builds on this grassroots movement, supporting local coalitions with strategic and financial support, as well as by liaising nationally with banking, regulatory, and nonprofit organization partners to expand banking access, including through the first-ever Bank On National Account Standards, updated for 2025 – 2026. The CFE Fund announced an online Bank On account validation and certification process; banks and credit unions across the country, at no cost, can submit for validation products they believe meet the national Standards. The list of financial institutions offering such products continues to expand across the country.