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The Inclusive Economy
CFED, Partners Launch New JoinBankOn.org
By Sean Luechtefeld on 11/01/2011 @ 11:00 AM
This morning, CFED, with support from the U.S. Department of the Treasury and in partnership with the San Francisco Office of Financial Empowerment, the National League of Cities and the New America Foundation, launched a new-and-improved Bank On website, which we invite you to visit at JoinBankOn.org.
The new site includes many new and exciting features, including the ‘Research Your Community’ tool, an online application that allows users to create customized data reports about the un- and underbanked populations in thousands of communities across the country. In addition to the new features, JoinBankOn.org also features improved versions of some of the old site’s features, re-vamped based on intensive user feedback. These include tools that help users find programs in their communities, in-depth instructions about how to start a Bank On program, comprehensive resources provided by a diverse network of Bank On professionals and much more.
The new JoinBankOn.org was redesigned with the goal of helping communities strengthen the financial well-being of local residents through the adoption of the Bank On model. Since its successful inception in 2006 in the city of San Francisco, the Bank On model has gained support from state and local officials across the U.S. as a way of bringing the 30 million unbanked and underbanked households into the financial mainstream. These households, which are usually comprised of low-income workers, are hard-pressed to build savings and assets, find it difficult to respond to emergencies, and are more likely to have their money lost, stolen or eaten away by predatory lending and check-cashing outlets. In addition to connecting unbanked individuals to low-cost accounts, Bank On initiatives involve efforts to raise public awareness, provide targeted outreach and expand access to financial education. Bank On promotes collaboration among financial institutions, nonprofit organizations, educational institutions and government entities to deliver beneficial services to people who need them most in a responsive, low-cost and sustainable manner. There are currently dozens of communities that have implemented Bank On initiatives across the United States, and many more are planned.
The JoinBankOn.org website was developed by the Treasurer of the City and County of San Francisco to widely share the lessons learned from their innovative Bank On San Francisco initiative launched in 2006. According to San Francisco Treasurer José Cisneros, “JoinBankOn.org is the online home of our nationwide movement to ensure everyone has access to the financial mainstream. It provides communities with easy access to information and resources for starting or enhancing local Bank On programs.”
Sign Up!
To stay informed on the latest news in the Bank On community and the larger financial access field, sign up to receive email updates. Or become a JoinBankOn.org member to participate in discussion forums and upload resources and news and events. Registration for JoinBankOn.org is free and simple. Click here to become a JoinBankOn.org member.
On behalf of all of our partners who made the new website possible, we are excited to introduce you to this new-and-improved digital resource. We also invite your feedback, as this website is premised on the idea that collaboration and community are the keys successfully expanding financial services for underbanked Americans everywhere. If you have questions or suggestions about the site, send us an email at info@joinbankon.org.
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