Bank On
San Diego
Safe and Accessible
Banking for San Diegans
Bank On San Diego
United Way of San Diego County leads Bank On San Diego, a partnership between local government agencies, financial institutions, and community organizations that works together to help improve the financial stability of low- and moderate-income individuals and families by expanding access to safe and affordable financial services for unbanked and underbanked populations. The Coalition leverages resources and expertise to implement financial education programs, promote low-cost banking products, and conduct outreach to underserved communities.
20%
of US households are underbanked, relying on some fringe financial services like predatory lending.
5.4%
of San Diego residents are unbanked, with another 8% being underbanked.
$40K
is the cost of being unbanked over a lifetime.
Why Creating Equitable Banking Solutions Matters
Underbanked individuals lack access to traditional banking services, such as savings accounts, credit cards, and loans, either due to financial constraints, a lack of proximity to banking institutions, or distrust in the banking system.
The exclusion from basic financial services perpetuates a cycle of poverty and hinders economic mobility, particularly in low-income communities and marginalized populations. Without access to banking, underbanked individuals often resort to using costly alternative financial services like payday lenders and check-cashing services, which further exacerbate their financial struggles through high fees and interest rates.
Expanding Access to Financial Resources Countywide
Bank On San Diego plays a vital role in reducing the disparities caused by being underbanked and fosters greater economic equity and opportunity for all members of our community. These initiatives not only help individuals gain access to essential banking services but also empower them with the knowledge and tools to make informed financial decisions.
Vision
Our vision is to bring accessible banking resources to every corner of our community. We're dedicated to partnering with local banks to ensure that even historically underserved areas in San Diego County have the financial tools they need. By providing access to services like mortgage assistance, small business loans, and credit counseling, we're paving the way for a future where every resident can achieve their financial aspirations.
Thank You to Our Partners
Join us in building a brighter financial future for all San Diegans!
Make an Impact Today
Donate today to create a lasting impact on the lives of thousands of San Diegans throughout the county. Whether you choose to make a one-time contribution or become a monthly donor, your generosity drives our mission to close gaps in our community through economic mobility and education initiatives.