HistoryThe "Bank On" concept was first piloted in San Francisco in 2006. Five years after the initial launch, Bank On San Francisco has helped open an estimated 78,000 accounts for previously unbanked individuals, of which are active and open.
Now, Bank On is a national movement. About 32 cities, 4 states, and 2 regions have fully implemented Bank On initiatives. Bank On programs have received support from the National League of Cities, the William J. Clinton Foundation, the Annie E. Casey Foundation, United Way, PEW Charitable Trusts.
Bank On Connecticut was first started by Connecticut Appleseed in 2007 as a way to improve access to financial services in the state. Funded initially by Citibank, Webster Bank, Citizen’s Bank and the NewAlliance Foundation, its members included Connecticut Appleseed Board members.
In 2009 CT Appleseed began partnering with the Connecticut Association for Human Services (CAHS) to plan the launch of Bank On Connecticut, which was made possible with funding from Citi Community Development.
Bank On Connecticut was further developed and implemented by Bank On Connecticut’s Steering Committee. The group is comprised of individuals from Community Based Organizations (CBOs), financial institutions, and government agencies.