Wednesday, November 2, 2011

CFED and National Partners Launch New Bank On Website and Release the First Local Unbanked Population Data Tool

Immeuble du Crédit Lyonnais (siège)CFED, with collaboration from the US Department of the Treasury and in partnership with the the San Francisco Office of Financial Empowerment, the New America Foundation and the National League of Cities, announces the launch of a new Bank On website. was originally developed by the Treasurer of the City and County of San Francisco to share information and resources from the Bank on San Francisco initiative of 2006.

The website serves as a place where the national community of Bank On initiatives, organizations and individuals can share resources and information supporting financial access for low-and moderate-income Americans. The website includes several new and exciting features including the Research Your Community tool, which allows users to get maps and estimates on the number of unbanked and underbanked households in their local communities. (“Unbanked” refers to someone who does not have a checking or savings account, while an “underbanked” person is someone who has an account, but still relies on other financial services such as payday loans, check cashing services, pawn shops, etc. which often end up depleting financial resources.)

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