Financial Mainstream Programs
CEO’s Financial Mainstream Program works to help low- to middle-income families gain access to safer, lower-cost financial services and the support they need to achieve and maintain financial stability.
Responsible personal financial behavior and access to basic financial services is an important on-ramp to financial stability and success – making ends meet, weathering life’s financial challenges and getting ahead financially over time and across generations. While most people have access to low- or no-cost financial services through banks and credit unions, 28 million Americans do not have a bank account, the basic mechanism to conduct personal financial transactions. An additional 44 million Americans who do have a bank account still rely on higher cost non-bank financial service outlets such as check cashers and payday lenders to access their money and borrow during times of need. Millions of other fully banked people and families live in chronic financial distress.
CEO is working to help more Americans enter the financial mainstream and get on a path to financial stability and success by:
- Accelerating robust, market-driven community-based campaigns helping people access lower-cost, safer financial services as well as the money management support services people need to develop and sustain good personal financial practices.
- Engaging financial service companies, employers, and others in the private sector to develop innovative, market-driven approaches to expand access to safer, lower-cost mainstream financial products and services – such as low- or no-cost transaction and savings accounts and lower cost alternatives to payday loans – and help people achieve personal financial goals.
