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Bank On National Data Hub

The St. Louis Fed and Cities for Financial Empowerment (CFE) Fund established the Bank On National Data Hub to show metrics from financial institutions related to Bank On account openings, account usage and consistency, and online access. We’re pleased to share a comprehensive review of certified Bank On account data from 10 financial institutions.

About Bank On

About 63 million adults—a quarter of U.S. households—don’t have a savings or checking account; many depend on check cashers and payday loan centers for financial services. The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked by making safe, low-cost transaction accounts accessible to all.

About the data

Building on the success of our pilot (see Excel file), the St. Louis Fed's data hub is now open to all financial institutions with accounts meeting Bank On National Account Standards, with data being aggregated and released annually. This national reporting infrastructure represents an important step forward for banking access efforts.

Who may find it useful

These data are valuable for coalition partners, financial institutions and anyone interested in the affordable banking movement.

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