Local Initiatives Benefit Everyone:

State of Florida benefits include:
• More disposable income for Floridians to spend in Florida rather than with out of
state alternative service providers
• Less need for already-strapped human services dollars

Community benefits include:
• Decreased crime rate since residents no longer keep cash at home
• More opportunities for asset building service providers to improve their clients’ financial stability
• Overall community economic vitality since citizens are more economically stable

Financial Institution benefits include:
• Access to the untapped market of the un- and under-banked

Individual Floridian benefits include:
• More disposable income, protected income, and increased wealth-building
opportunities

Are you looking to start a local Bank On Initiative?

All of the information provided here is offered at no cost to you and your organization, but a user name and password is required. Please click here to request a password and get more information!

Are you a current partner?

A Real Life Example of Why You Should Start a Bank On Program

League of Southeastern Credit Unoins Communications Coordinator Joseph Davis talks with St. Petersburg City Councilman Karl Nurse about the Bank On St. Pete Initiative, the importance of financial stability, and how GTE Federal Credit Union played a major role in the initiative. Click here to listen.

Bank On Florida is:

•   Driven by partnerships:
     -  State wide asset building coalition
     –  State and Municipal governments
     –  Community-based organizations
     –  Financial institutions and regulators
     –  Regional and local Asset Building Coalitions or VITA Sites

•   Innovative solutions are created to reach un- and under-banked individuals, including:
     –  Developing safe, affordable financial products;
–  Creating pathways and supports to assist targeted populations to utilize these products; and
–  Conducting outreach campaigns to inform the public about these opportunities.

Benefits of a Successful Program

•   Financial institutions receive increased access to the untapped market of the un- and under-banked
•   Residents protect their income and assets and have more wealth-building opportunities.
•   Community groups have access to more asset-building opportunities for their clients.
•   Family financial stability = overall city economic vitality.
•   Financial services can become a part of larger community asset-building strategies.

Top Reasons to Open an Account at a Bank or Credit Union:

• No or low minimum opening balances and monthly balances
• No or low maintenance fees
• Direct deposit of paychecks or monthly benefit checks
• Free ATM/debit cards – quick access to your money
• Online banking
• Money management education
• A Second Chance Program if you have a troubled banking past
• Safety from natural disaster and theft
• Your money is Federally insured so you know it will always be there
• It saves you money!