The time is now – and it’s not too late – to open a safe banking account to get unemployment money and other benefits faster & safer than a check. Visit covidbanking.joinbankon.org for details on which #BankOn certified accounts that can be opened online!
During this time, a safe, affordable and productive banking account is more important than ever – and the data continues to show that Bank On accounts are attracting new customers to the financial mainstream. Building off the CFE Fund’s partnership with the Federal Reserve Bank of St. Louis and a pilot study in 2017 , the St. Louis Fed’s Bank On National Data (BOND) Hub has released its latest report.
This report, Making the Case for Banking Access: Talking to Unbanked People About Bank Accounts, explores effective messages for communicating with those who are unbanked about the value of safe accounts. The CFE Fund commissioned strategic communications firm RALLY and polling research firm PSB to field a multi-city series of focus groups and surveys to uncover what types of messaging would most effectively move unbanked people to open accounts; a subset of the research focused on the financial attitudes, habits, and goals of unbanked people, as well as on Spanish-speaking unbanked people and how messages might best engage them to open accounts.