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Family Economic Success

Banking On Opportunity: A Scan of the Evolving Bank On Field

NLC has prepared a new report under contract with the U.S. Department of the Treasury and CFED tracing the growth of the Bank On model within the broader financial access field and examining the current landscape of Bank On programs.

New Bank On Cities Project

Five cities - Houston, Louisville, San Francisco, Savannah, Ga., and Seattle - will receive technical assistance and $5,000 mini-grants to support the collection of data on residents’ access to mainstream financial services. Supported by the Ford Foundation, the “Improving Data Collection in Municipal Bank On Initiatives” project will address key barriers to evaluating the progress of local "Bank On" programs.

Combating Child Hunger

Millions of children and teens who rely on school meals are at greater risk of going hungry during the summer when school is not in session. City leaders can use the USDA's Summer Food Service Program Outreach Toolkit to connect young people with healthy, nutritious meals at community centers, parks, schools, and other eligible program sites throughout the community.

Spotlight On: Bank On Cities

A new YEF Institute toolkit, Bank On Cities: Connecting Residents to the Financial Mainstream, provides cities with a step-by-step guide for expanding access to mainstream financial services. Through Bank On initiatives, cities can reduce unbanked residents’ dependence on high-cost check cashing and fringe financial services by connecting them with affordable bank accounts and financial education.
Learn more | Bank On Cities toolkit

Asset Building

Many low-income families have little or no financial reserves to draw upon in the event of job loss, serious accident or illness, or other personal crises. City officials can help residents achieve financial stability by promoting financial education; supporting homeownership counseling and incentives; promoting savings strategies; helping families avoid predatory lending; and connecting low-income residents with mainstream financial services.

Work Supports and Public Benefits

Millions of American families include at least one worker but are still poor, struggling to pay for food, shelter, and health care. By connecting families with the Earned Income Tax Credit (EITC), publicly-funded health insurance, federal nutrition programs and other benefits, cities can alleviate poverty and bring millions of federal dollars to residents and the local economy.

Employment Strategies

Even in a strong economy, some individuals have difficulty finding work: welfare recipients, high school dropouts, homeless individuals, or people with criminal records. Transitional jobs programs can help those with barriers to work develop the skills and experience needed to attain and sustain long-term employment.

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