Bank On in Florida

Bank On Florida is an initiative of the Florida Prosperity Partnership (FPP) created to support and foster
the creation of local Bank On Initiatives throughout Florida. In December 2010, the FPP convened stakeholders from across the state and the country to build an advisory council and several committees for the development of Bank On Florida. This impressive group was dedicated to helping the residents of Florida increase their disposable income, protect it, and increase their wealth-building opportunities.

More than half a million households in Florida are unbanked and well over a million households are underbanked. Bank On Florida wants to help those families enter into a prosperous relationship with a financial institution. A successful relationship starts when a financially educated client is able to choose from a variety of deposit accounts being offered by banks and credit unions that care about the communities in which they operate.

Since 2010, many local Bank On programs have been created across the country. Here are coalitions that are in operation in Florida (under the Bank On name):

Bank On Volusia-Flagler
Bank On Miami-Dade
Bank On Lauderhill
Bank On Greater Orlando
Bank On Central Florida

Initiatives Benefit Everyone

State of Florida benefits include:

  • More disposable income for Floridians to spend in Florida rather than with out of state alternative service providers
  • Less need for already-strapped human┬áservices dollars

Community benefits include:
  • Decreased crime rate since residents no longer keep cash at home
  • More opportunities for asset building service providers to improve their clients' financial stability

  • Overall community economic vitality since citizens are more economically stable
Financial Institution benefits include:
  • Access to the untapped market of the un- and under-banked
Individual Floridian benefits include:
  • More disposable income, protected income, and increased wealth-building opportunities

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