Too many households in Sacramento – 9 percent – do not have a checking or savings account. Even among those households that do, a full 20 percent also use expensive financial services such as payday loans and check cashing. This means they are paying way too much in fees just to access their own money.
Bank On is a national effort to reduce these numbers in regions across the country. Cities for Financial Empowerment, which leads Bank On, has created a set of account standards that financial institutions must meet to become a Bank On partner.
Our United Way is the lead for Bank On California Capital Region. We help our partners connect people with accounts that work for them.