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FACTS

• Too many Californians conducts their financial lives outside the financial mainstream
• Nationally as many as 28 million people are unbanked
• One in five low-income Californians does not have a checking account
• Nearly half of Californians do not have a savings account
• A full-time worker without a checking account could potentially save as much as $40,000 during his career by relying on lower-cost checking account instead of check-cashing services

Financial Partners

• Bank of America
• Bank of the West
• Broadway Federal Bank
• Chase
• Citibank
• City National Bank
• Kinecta Federal Credit Union
• Pacoima Development Federal Credit Union 
• U.S. Bank
• Union Bank
• Wedbush Bank 
• Wells Fargo

NATIONAL EFFORTS

On January 24, 2008, Governor Arnold Schwarzenegger announced the creation of a "Bank on California" campaign, serving unbanked Californians in cities across the state. Click here for more information.

In partnership with New York City, San Francisco is co-chairing a coalition called Cities for Financial Empowerment (CFE), which seeks to expand the vision of what municipal government can and should do on behalf of its residents with low and moderate incomes. CFE member cities (Los Angeles, Miami, New York, San Antonio, San Francisco, Savannah, and Seattle) are committed to leveraging local opportunities, resources and powers to improve the financial health of their citizens. Click here for more information.