Step Ten: Launching and Sustaining a Bank On Program
As program planners transition into implementation and management roles, one individual may be designated to serve as program manager. Program managers must decide how to expand or improve the program and how to continue the momentum and monitor program performance.
Preparing for the Launch
The public launch is a vital part of the success of the Bank On program, marking the end of the planning stage and the beginning of implementation and management of the program. By hosting a public launch, city leaders can formally introduce the program to the public and showcase its high level of support among local elected officials and other important partners. Perhaps most importantly, the launch event signals that the Bank On program is available to local residents. That is why it is important to plan a visible, dynamic event to kick off the start of the program. While the length of the planning period for each program may vary, it is important to ensure that certain program components are in place before officially “opening for business.”
Launching the Program
The launch event itself will vary from program to program, but should be highly visible to the public and involve local elected officials and other trusted city leaders. Many programs find it helpful to tie a launch event to a related initiative, such as an EITC outreach campaign or America Saves Week. Doing so helps contextualize the program, give it visibility and allow a program to “piggyback” off of existing media attention. In addition to sponsoring an event that attracts widespread public attention, programs should consider the venue and format, media involvement, speakers and guests, sponsorship, and informational materials.
Continued Program Management
Once local leaders have formally launched a Bank On program, they will have to transition into implementation and management roles. Program leaders may choose to select one individual to serve as the program manager, but can also keep subcommittees intact in order to manage different parts of the program. After the launch, program leaders should consider how to grow the Bank On program, take advantage of new innovations for expanding access to mainstream financial services and continue to meet the evolving asset-building needs of unbanked residents. Finally, it is important to make sure the Bank On initiative is sustainable and continues to maintain a high level of public trust.
