Join the Coalition Today!
Bank On Minnesota works to connect everyone to safe and appropriate financial products and services.
Bank On Minnesota is a collaboration between financial institutions, community-based organizations, and local government to ensure that all residents have the opportunity to be financially healthy. We improve financial inclusion by collaborating with banks, governments, and community groups to address unbanked populations, promote awareness, and support community wealth-building through Bank On accounts.
4.5%
of U.S. households are unbanked.
Approximately 12 million adults are unbanked, without a checking or savings account.
$40K
Unbanked cost per family
Being unbanked can cost $40K over a lifetime due to use of costly alternative financial services for routine financial transactions
24 million
underbanked adults nationwide
More than 24 million adults are underbanked nationwide, relying on some fringe financial services.
Featured Resources
Top Reasons to Open a Bank Account
Learn more about how being banked helps you reach your financial goals.
How to Pick a Bank Account
Banks offers accounts with different features, costs, and requirements so finding the right bank account can be a challenge. The How to Pick a Bank Account checklist can help you make the best decision.
Bank On National Account Standards
The CFE Fund’s Bank ON National Account Standards provide local programs with a benchmark for account partnerships with financial institutions, and include both core and recommended features to meet people where they are.
Our Coalition
Join us in connecting Minnesota residents to better banking products and making our community a safer, more accessible place to bank.
Bank On Minnesota coalition members are working together to ensure that all households have access to safe and affordable bank accounts that meet their needs, allows them to increase assets, and strengthen their financial stability.
Our Partners
Financial Education of Minnesota
U.S. Bank
Wells Fargo
As Mayor of Brooklyn Park, I am proud to endorse and support Financial Education of Minnesota’s application for the Bank On Fellowship Program. As Minnesota’s first minority-majority city, Brooklyn Park is uniquely positioned to benefit from and contribute to the program’s mission of improving financial stability for unbanked and underbanked individuals and families. With a rapidly growing population that reflects a rich tapestry of cultures and backgrounds, we recognize the critical importance of building strong, locally led partnerships between public officials, financial institutions, and community organizations. Together, we can create meaningful access to banking services that empower our residents and strengthen the economic fabric of our city.
Mayor Hollies Winston City of Brooklyn Park
BANK ON CERTIFIED ACCOUNTS ARE
Safe
These accounts do not allow overdraft or non-sufficient funds fees, so you’ll never be hit with a surprise fee.
Low Cost
Certified accounts are $5 or less per month, with no unpredictable fees.
Functional
Certified accounts always allow free deposits, free withdrawals, and free bill payments.