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  • WHY DO I NEED AN ACCOUNT?
  • HOW DO I OPEN AN ACCOUNT?
  • MANAGING YOUR FINANCES
  • PARTNERS

Community Based Neighborhood Partners

  • •   East LA Community Corporation
  • •   Community Financial Resource Center
  • •   Pacific Asian Consortium in Employment
  • •   Valley Economic Development Corporation 
  • •   United Way of Greater Los Angeles 
  • Financial Partner
  • •   The Annenberg Foundation
  • •   Annie E. Casey Foundation
  • •   Wells Fargo/Wachovia
    •   US Bank
    •   Cathay Bank
    •   Broadway Federal Bank 
    •   Bank of America
    •   Bank of the West
    •   Citibank
    •   City National Bank
    •   E1 Federal Credit Union
    •   JPMorgan Chase/WAMU 
    •   Kinecta Federal Credit Union
    •   Union Bank of California

REACHING OUT TO UNBANKED ANGELINOS

Unbanked Angelinos are concerned about the cost of having a bank account and are worried they may be denied an account because they have made financial mistakes in the past. Others believe that without a Social Security card they are not eligible for an account. Some think they do not make enough money to have a bank account, or are intimidated by a traditional banking environment.

To directly address these concerns, participating banks and credit unions agreed to the following baseline criteria:

• Offer a low- or no-cost product with no minimum balance requirement. The high minimum balances and fees of many accounts is a key factor keeping people out of the financial mainstream.
• Adapt internal systems to allow customers with a poor banking history to open "second chance" checking accounts.
• Accept the Mexican Matricula and Consular identification cards as primary ID. For many immigrants, the barrier to opening an account is having the proper documentation.
• Expand marketing and outreach strategies in targeted, low-income neighborhoods, and increase the visibility of appropriate products in Los Angeles.
• Provide financial management training in the community and partner with local community-based organizations to transition customers ready to enter the financial mainstream.

HOSTING A FINANCIAL TRAINING

Bank on LA offers free, high-quality financial training for clients through
our community partners.

PARTNER WITH US

Bank on LA invites community organizations and banks and credit unions to partner with us, and help us reach even more unbanked Angelenos.

DOWNLOAD MATERIALS

Find free downloadable materials, including Bank on LA marketing collateral.

PRESS

Learn about Bank on LA and our strategic partners, and read press coverage about the growing state and national movement to make checking accounts and financial services available for all.
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