Bank on Houston is a collaborative effort of the City of Houston Controller’s Office, the Federal Deposit Insurance Corporation (FDIC), the National League of Cities, the Federal Reserve Bank, 26 participating banks, credit unions, and numerous nonprofit organizations to bring the city’s unbanked individuals into the financial mainstream. There are 65 Bank On programs in the U.S.
The Bank on Houston goals are:
- Raise awareness among unbanked consumers, especially the low to moderate income market, about the benefits of account ownership and having a bank or credit union account.
- Make quality money management education more easily available to low to moderate income Houstonians.
In August 2011, Bank on Houston was awarded a grant from the National League of Cities with a focus on “Improving Data Collection in Municipal Bank On Initiatives.” Bank on Houston has also received a three-year grant (2013 through 2015) from Wells Fargo and United Way that will enable us to hire a full-time BOH coordinator and greatly enhance efforts at outreach and community education.