National Bank On Data Pilot
In partnership with the Federal Reserve Bank of St. Louis, the Bank On Data pilot collected and measured quantitative data on 2017 Bank On certified account usage at four pilot financial institutions with certified accounts: Bank of America, JPMorgan Chase, U.S. Bank, and Wells Fargo. The pilot reveals the kinds of relevant account data that can be collected, how it might be collected, and what it might show; as well, this pilot highlights the benefits of a central reporting system for financial institutions with Bank On certified accounts and for their coalition partners across the country. Read the full report on this pilot here: The Present and Future of Bank On Account Data: Pilot Results and Prospective Data Collection.
The anonymized dataset at the zip code level is available for download here. Want to play with the data yourself? A newly published Bank On Coalition Playbook Chapter, 2017 Bank On Data Pilot: Accessing the Data, details how Bank On coalitions can use the Local Bank On Data Tool to produce reports of this data locally to support their work to expand banking access and the availability of Bank On accounts locally.
The CFE Fund and Federal Reserve Bank of St. Louis hosted a webinar on this report and the Data pilot. Click here to watch the webinar.
An Evaluation of Financial Empowerment Centers: Banking Status
This brief details banking outcomes in the five Financial Empowerment Center (FEC) replication cities, and is excerpted from the CFE Fund’s full report, An Evaluation of Financial Empowerment Centers: Building People’s Financial Stability As a Public Service. This brief highlights how banking status mattered for FEC clients’ success. It also details unbanked clients and what they achieved during counseling, banking outcomes for all FEC clients, and why products matter for programs seeking to improve banking access.
Account Screening Consumer Reporting Agencies: A Banking Access Perspective
This CFE Fund and National Consumer Law Center report details consumer reporting agencies and the significant—and deeply flawed—role they play denying millions of people access to mainstream banking.
Summer Jobs Connect: Building Sustainable Banking and Savings Programs in Summer Youth Employment
This report highlights Summer Jobs Connect’s second year, with briefs on direct deposit and financial education; incentive strategies; and infrastructure changes for sustainability.
Summer Jobs Connect: More Than a Job
This report details lessons learned from the first year of Summer Jobs Connect, which adds financial empowerment strategies to summer youth employment programs.
FDIC Unbanked Survey
The Federal Deposit Insurance Corporation (FDIC) sponsors the biennial National Survey of Unbanked and Underbanked Households to collect data on the number of U.S. households that are unbanked and underbanked, their demographic characteristics, and their reasons for being unbanked and underbanked. The survey includes a wealth of previously unavailable data on unbanked and underbanked households at the national, state, and large metropolitan statistical area (MSA) levels. Users can access survey findings, download survey data, generate custom tables, and view information about other relevant FDIC studies and initiatives.
Prosperity Now Scorecard
Knowing the size of the unbanked and underbanked population is helpful in understanding the needs of your local community. Learning which populations are at higher risk for being financially underserved can also help you design an effective and well-targeted financial access strategy. Users can access Prosperity Now’s (formerly CFED’s) data tool to download estimates of the number of unbanked and underbanked households at the city/town, county, metro area and state levels; access supplementary demographic data on at-risk populations; map unbanked and underbanked households down to the neighborhood level; and learn more about the financially underserved in your community.
Federal Reserve Community Credit Profiles
The Federal Reserve Bank of New York launched an interactive tool, called Community Credit, which looks at the local credit economy at the national, state and county levels. Each community is characterized based on the aggregated credit behavior of its adult residents, and then these indicators of credit behavior are used to assess the community’s ability to access credit and its credit stress level. The tool also looks at how these factors have changed since 2006.