...Banks and credit unions offering certified accounts comprise over 50% of the U.S. deposit market share, and 40% of all US bank branches offer a certified account; nearly two million...
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...
...over the phone to help people strategize around supports for disruptions to their income and other financial concerns. They helped residents triage financial issues, identify immediate action steps, and make...
...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...
...has invested over $40 million in this initiative, which has provided 16,500 young people with summer jobs and over 800,000 low-income youth with access to financial education and safe and...
In this July 2023 press release, the CFE Fund announced the expansion of Summer Jobs Connect (SJC) through Summer Jobs Connect Academy, a new entry point for connecting banking access...
The CFE Fund has a number of funding opportunities to support banking access efforts, including the Bank On Capacity Grant: Capacity Grant: The CFE Fund’s Bank On Capacity Grant aims...
...the addition of CRA-based incentives for municipal financial empowerment services, such as for financial institutions that partner with municipalities to offer Bank On appropriate accounts, support children’s savings strategies, and...
...the short-term lending market that trap them in cycles of debt, and offers a number of recommendations. These include: the proposed full payment test should include standardized, transparent methods for...
Financial Empowerment Centers (FEC) offer professional, one-on-one financial counseling as a free public service to enable residents to address their financial challenges and needs as well as plan for their...