Bank on San Francisco

Bank on San Francisco is the first comprehensive program in the United States to serve the "unbanked," those who live without access to mainstream financial institutions and are forced to rely on expensive check-cashing services.

The initiative has been led by EARN, San Francisco Treasurer Jose Cisneros, and the Federal Reserve Bank of San Francisco. Through this unique public-private partnership, we worked with local community organizations, banks, and credit unions to offer low-cost, starter, checking and savings accounts so that individuals can begin saving, build a credit history, and invest in their future. EARN has played a key role in the development and delivery of Bank on San Francisco through coordinating financial management training provided by banks; arranging additional training as needed; and getting the word out to the community, both directly and through our strong network of partners.

The success of Bank on San Francisco has led several cities and states to adopt similar programs. To date, this initiative has helped tens of thousands of unbanked households get on the road to financial security.