At Fairview Housing Partners, we believe that access to affordable housing is just one part of a thriving, stable life. Equally essential is financial stability and access to safe, affordable banking services. That’s why we’ve partnered with local Bank On coalitions and financial institutions to help residents open safe banking accounts and gain access to trusted financial tools. Bank On is a national program that works with local coalitions and financial institutions to ensure all communities have access to safe, affordable bank or credit union accounts that are certified and meet the Bank On National Account Standards for low-cost, functional checking accounts.
Across our affordable housing communities, many residents have faced barriers to traditional banking, which has pushed them to rely on costly alternatives like check cashers or payday lenders. By working with Bank On partners, we’re helping to connect residents to low-cost, no-surprise-fee checking accounts and personalized financial education designed to empower them to build credit and save for the future. With the generous support of Lincoln Avenue Communities, we are contributing the opening fee of up to $25 for residents who sign up for a Bank On-certified account. “Financial security begins with access,” says Mark Smith, manager of financial security at United Way Suncoast. “This partnership reflects our shared commitment to removing barriers to safe, affordable banking and ensuring residents have the tools and opportunities to fully participate in the financial mainstream.”
Through these partnerships, residents have already begun opening new bank and credit union accounts—an achievement that opens the door to greater financial independence and opportunity. In addition to providing account access, financial institutions and nonprofit partners that are part of Bank On coalitions have established complementary programming, including on-site financial planning classes for residents.
“This work reflects what is possible when mission-driven partners come together. Bank On coalitions, financial institutions, and Fairview Housing Partners all share a commitment to financial inclusion. Seeing residents open new accounts and engage in meaningful financial education is an important part of Fairview’s mission to improve residents’ housing stability. We are excited to grow this effort and expand the benefits of safe banking access to more communities nationwide.”
“Everyone deserves a bank or credit union account that works for them – a safe place to deposit paychecks, pay bills, and start building savings,” explains Aaron Hirsh, Principal at Cities for Financial Empowerment Fund which leads the national Bank On movement. “We’re thrilled that Fairview Housing Partners and Bank On Suncoast are connecting residents with nationally certified Bank On accounts they can trust as the first step to a stronger financial future.”
We’re proud to continue growing this initiative, bringing the benefits of safe banking access to more residents across the country.