Banking Regulators, Financial Institutions, and Nonprofits Celebrate Over a Decade of National Banking Access Partnership

At The Cities for Financial Empowerment Fund's 2025 Bank On National Conference, OCC Senior Deputy Comptroller Gardineer delivers keynote address to hundreds of field stakeholders

WASHINGTON, May 28, 2025 /PRNewswire/ -- Today at the largest conference in the banking access field, over 200 representatives from financial institutions, regulatory agencies, community nonprofit organizations, and other partners gathered to celebrate a decade of Bank On movement progress. The national nonprofit Cities for Financial Empowerment Fund (CFE Fund), which leads this movement, hosted the 2025 Bank On National Conference at the National Press Club in Washington, DC, featuring a keynote address from the Office of the Comptroller of the Currency's (OCC) Senior Deputy Comptroller Grovetta N. Gardineer. The conference highlights an exciting moment for the movement, marking ten years since the CFE Fund released the first-ever Bank On National Account Standards, a set of criteria designed to promote safe, affordable bank and credit union accounts.

There are now almost 500 Bank On nationally certified accounts, offered by banks and credit unions representing over two-thirds of the domestic deposit market; more than half (58%) of all US bank branches offer a Bank On certified account. There are more than 100 local Bank On coalitions working to advance this national movement and connect consumers to certified accounts.

"More than a decade into this work, we have seen time and again how cross-sector partnerships supercharge banking access efforts. People continue to join the financial mainstream, due in no small part to the collective work of government, nonprofit, and bank and credit union partners" said Jonathan Mintz, President and CEO, Cities for Financial Empowerment Fund. "With the national unbanked rate now cut in half since its peak, we are excited to reflect on how these successful partnerships have brought exponential growth to banking access, and use those strategies moving forward."

The national conference brings together key stakeholders from multiple sectors across the country: local Bank On coalition program leads and their community partners, local government officials, government administrators, financial institutions large and small, federal banking regulators, national nonprofit organizations, philanthropic partners, consumer advocates, and more. This year's conference highlights the power of supercharged partnerships across sectors to bolster the movement. In addition to the keynote address from Senior Deputy Comptroller Gardineer, plenary sessions include those on how cross-sector partnerships can boost account openings, using data to demonstrate movement impact, and strategic approaches for bringing hard-to-reach populations into the financial mainstream.

"Thriving communities start with financial empowerment," said Jennifer Roberts, CEO, Chase Consumer Banking. "We're very proud of our partnership with CFE Fund to improve access to safe and secure banking solutions and help put more people on a path to financial health and resilience."

"As a company, Wells Fargo is committed to helping people build a strong financial future, and banking access is foundational to overall financial success," said Bonnie Wallace, head of financial health philanthropy at Wells Fargo. "As part of the Bank On movement for more than a decade, we're especially proud of our Bank On Fellowship Program which has created a multi-city network of Bank On coalition leaders to help more people access the mainstream banking system."

The Federal Deposit Insurance Corporation's (FDIC) latest 2023 National Survey of Unbanked and Underbanked Households found that US unbanked rates have shrunk to the lowest recorded level ever recorded. The data shows that in 2023, only 4.2% of U.S. households were unbanked, down from 8.2% in 2011.

4 million Bank On certified accounts were opened in 2023 alone; of those, 84% were new customers. The growth of the Bank On certified market has also ensured that people still in need of a mainstream banking account are in close proximity to branches offering certified accounts; the Federal Reserve Bank of St. Louis Bank On National Data Hub findings showed that Bank On certified accounts are available in 89% of zip codes across the US.

Bank On works to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs. Core account features include low costs, no overdraft fees, robust transaction capabilities such as a debit or prepaid card, and online bill pay.

The CFE Fund leads the national Bank On movement, supporting local coalitions working to connect individuals and families to the financial mainstream through partnerships between local governments, financial institutions, and community organizations. To learn more about Bank On click here.

About the Cities for Financial Empowerment Fund (CFE Fund)

The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting-edge experience with large-scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 145 cities and counties, and has disbursed over $69 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Bluesky at @cfefund.bsky.social.

About Bank On

The CFE Fund's national Bank On movement supports local coalition and financial institution efforts to connect consumers to safe, affordable banking accounts as a fundamental component of financial stability. Already, almost 500 accounts at banks and credit unions nationwide – representing over two-thirds of the national deposit market share –  are certified as meeting the Bank On National Account Standards, which designate both core and strongly recommended features that ensure low cost, no surprise fees, high functionality, and consumer safety. More than 100 Bank On coalitions across the country are working to connect unbanked and underbanked individuals to certified accounts, often through leveraging large-scale government program and payment opportunities. Visit www.joinbankon.org for more information. 

Media Contact:
Mia Katsuleres
[email protected]
203-837-6918 

SOURCE Cities for Financial Empowerment Fund