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What is Bank On Florida?
In December 2010, 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 begins 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, as well as right here in the Sunshine State. Below is a current list of the active Bank On coalitions making an impact in their Florida communities:
Bank On Initiatives Benefit Everyone
Every stakeholder in Florida wins when more households engage in a banking relationship!
Our State
Benefits to the state of Florida include more disposable income for Floridians to spend in Florida rather than with out-of-state alternative service providers. When this happens, the need for already-strapped human services dollars decreases.
Our Florida Communities
Community benefits include a decreased crime rate since residents no longer keep cash at home, and more opportunities for asset-building service providers to improve their clients' financial stability, security, and well-being. Overall, the economic vitality of a community rises since citizens are more economically stable.
Our Financial Institutions
Benefits to financial institutions include greater access to the untapped market of the un- and under-banked in our Florida communities. As well, banks and credit unions may elevate the way they serve the needs in the Florida communities where they conduct business.
Our Fellow Floridians
Every individual and household in Florida benefits through more disposable income, protected income, and increased wealth-building opportunities!