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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

WHY BECOME A FINANCIAL PARTNER 

The intended outcomes of Bank on LA are specific and measurable: the opening of 10,000 new bank accounts per year among low-income individuals. To accomplish this goal, we turned to financial institutions in the City to demonstrate leadership and to help remove the barriers that low-income families face in opening a bank account.
By partnering with us, financial institutions can expand marketing in targeted, low-income neighborhoods and increase the visibility of appropriate products in Los Angeles. By working with nonprofits in Los Angeles, Financial Partners have been able to identify customers and develop new strategies to reach unbanked customers. Staff offering financial training courses have made real connections in the community.

As a Financial Partner, you can:

• Help bank the unbanked by offering the Bank on Los Angeles product at your Los Angeles locations.
• Participate in Bank on Los Angeles outreach events.
• Partner with a community organization of your choice.
• Hold a financial training seminar for community organizations.
• Include Bank on Los Angeles information in your mailings and newsletters.
• Display posters and other materials in public spaces.
• Place a link on your Web site to bankonla.org.