Bank on Oakland

It is estimated that 30,000 Oakland residents have no checking or savings account, and without a bank account the average person will spend nearly 5% of their income at check cashers each year. Thus, the goal of Bank on Oakland is to help people gain access to mainstream financial services, including low-income families and those who don't have a social security number, have never had an account before, and/or have had problems with an account in the past.

Potential participants can call 2-1-1 or search for a Bank on Oakland sign at a bank or credit union in the community in order to find a participating bank or credit union. Staff at participating organizations are available to answer questions about the program. A Social Security number is not necessary to open a bank account; however, a passport, California ID, Mexican Matricula card, or Guatemalan Consular identification card is necessary and, typically, a second form of identification is requested. Bank on Oakland also provides free money management classes that are geared towards helping the participants get the most from their bank accounts.

The goal of Bank on Oakland is to help low-income families gain access to mainstream financial services.

Thus far, over 25 bank and credit union branches are participating in Bank on Oakland.