Mayor Malik D. Evans has introduced Bank On Rochester, a new initiative designed to provide all city families with access to safe and affordable bank or credit union accounts that are nationally certified. This effort aims to overcome the barriers faced by unbanked and underbanked residents, promoting financial stability and empowerment in the community.
“Financial stability is the foundation of economic mobility,” stated Mayor Malik D. Evans. “The certified Bank On Rochester checking accounts provide families with the flexibility to direct deposit their paycheck, pay bills faster, and receive tax returns in a safe way. I want to thank our coalition partners for helping us create social and economic equity, which builds a safer, more prosperous city for everyone.”
The Mayor’s Office of Financial Empowerment has collaborated with 29 banks, credit unions, and community-based organizations to devise strategies addressing financial exclusion and access barriers while offering low- or no-fee checking accounts. These accounts are vital for individuals and families seeking a secure financial base.
Rochester faces high rates of unbanked or underbanked residents, particularly affecting Black and Latino communities. Many depend on alternative financial services like check-cashing locations, prepaid cards, and payday lending, which tend to be more expensive than traditional banking options. Nationally, data indicates that Black and Hispanic families lack full banking access at nearly three times the rate of White families. The Bank On Coalition will link individuals and families to certified checking accounts that are convenient, secure, and do not permit overdrafts.
City residents are encouraged to explore low- to no-fee checking account options available through the Bank On Rochester partners by visiting www.cityofrochester.gov/BankOn.
