Community Financial Access Pilot (CFAP) Community Profile
Bank on Philadelphia: Community Financial Access Pilot
Community Overview:
Philadelphia, Pennsylvania is implementing Bank on Philadelphia, an initiative designed increase access to financial services and financial education for low- and moderate-income families and individuals as a means for promoting individual, family and community economic well-being. Philadelphia is a city of over 1.4 million residents, including a diverse population and economy. Many of the city’s residents use alternative financial service providers, rather than banks and credit unions, to conduct financial transactions, and thus have difficulty saving and building assets.
Initiative Overview: Bank on Philadelphia stands to create the opportunity to leverage a wide distribution of community based organizations, banks, and credit unions to connect moderate and low income consumers to lower-cost or no-cost financial accounts and alternatives to pay-day loan products, and attract them to banks and credit unions that are located in the neighborhoods where they live and work. The Philadelphia City Controller will provide local leadership to guide and coordinate the various participating organizations that will lend their expertise and services to the effort. Through the Pennsylvania Credit Union Association’s A Better Choice loan program, residents will be able to access low-cost alternatives to payday loans, which also give them an opportunity to start to save in an insured account. Bank on Philadelphia will also provide increased access to financial education and credit counseling services through participating service providers.
Partner Organizations as of April 2009:
ACHIEVEability
African American Chamber of Commerce
American Heritage Federal Credit Union
Campaign for Working Families
Catholic Social Services
Citibank
Consumer Credit Counseling Services of the Delaware Valley
Empowerment Group
Esperanza
Federal Reserve Bank - Philadelphia
Financial Freedom Network
Freedom Credit Union
GIM Associates, LLC
Greater Philadelphia Urban Affairs Coalition
Lancaster Avenue Business Association
Mariana Bracetti Academy Charter School
Mt. Tabor CEED
Operation HOPE
Pennsylvania Credit Union Association
Pennsylvania Office of Financial Education
Philadelphia City Controller
Philadelphia Federal Credit Union
Philadelphia Workforce Development Corp.
Phillips Temple Christian Methodist Church
PNC Bank, N.A.
Republic First Bank
School District of Philadelphia
The Enterprise Center CDC
U.S. Attorney's Office
U.S. Dept. of Labor - Women's Bureau
U.S. Department of the Treasury Office of Financial Education
United Bank of Philadelphia
United Way of Southeastern Pennsylvania
Wachovia
Weed & Seed of Philadelphia
West Philadelphia Financial Services
PA Credit Union Assoc.
Community Affiliates as of April 2009:
ABO Haven
Achieve-Ability
Achieving Independence Center
ACORN
ACORN Housing
Action International of Philadelphia
Advocates for Financial Independence
African American Chamber of Commerce
Al Dia Newspaper
Allegheny West Foundation
American Street Financial Services Center
Arbor EARN
ASAP
Asociacion Puertorriquenos En Marcha, Inc (APM)
Aspira Inc. of Pennsylvania
Bibleway Church
Bright Hope Nonprofit Corporation
BTN Services
BuildaBridge International
Campaign for Working Families
Cardinal Bevilacqua Community Center
Career Wardrobe, The
Caring People Alliance
Carroll Park Community Council
Catholic Social Services
CED/GPUAC
Ceiba
Center in the Park
CITE
Community Capital Works
Community Legal Services
Community Women's Education Project
Congreso De Latinos Unidos
Consumer Bankuptcy Assistance Project
Council of Spanish Speaking Organizations Inc.
Councilwoman Marion Tasco Office
CWEP
Deliverance Evangelistic Church
Dignity Housing
Distric 1199C Training & Upgrading Fund
Diversified Community Services
EDSI South EARN
Empowerment Group
Enterprise Center, The
Esperanza
Family Care Solutions Inc
Family Planning Counseling of SE Pennsylvania
Federal Reserve Bank of Philadelphia
Friends Neighborhood Guild
GIM Associates, LLC
Girls Incorporated of PA & Southern NJ
Goodwill
Graduate! Philadelphia
Hispanic Alliance for Community Advancement, Inc. (HACA)
Hispanic Association of Contractors and Enterprises (HACE)
Housing Association of Delaware Valley
Housing Counseling Association of Delaware Valley
Impact Services
JEVS EARN
Korean Community Development Services
KRA
KRA EARN
Latino Leadership Alliance
Lutheran Settlement House
Maternity Care Coalition
Mayfair Community Development Corporation
Mayor's Office for the Reentry of Ex-Offenders
MCC
Metropolitan Career Center
Mt. Airy Revitalization Corporation
Mt. Airy USA
National Comprehensive Center of Fathers
Nationalities Service Center of Philadelphia
NCCF
Neighborhoods Now
New Choices/New Options Community College of Philadelphia
New Creation Lutheran Church
New Hope
New Wave
New World
Norris Square Neighborhood Project
Northwest Philadelphia Interfaith Hospitality Network
NW Philadelphia Interfaith Hospitality Network
Open Borders Project, Inc
P&A Nursing
PA Prison Society
Partnership CDC, The
PathwaysPA Earn Center
PathwaysPA South Philadelphia Office
PathwaysPA West Philadelphia SIL
PathwaysPA West Philadelphia SIL II
PEC
Penn Home Ownership Services
People for People EARN
People's Emergency Center
Phila Neighborhood Housing Services
Phila. Coalition of Labor Union Women
Phila. Veterans Multi-Service & Educ. Center
Philadelphia Chinatown Develop. Corp. (PCDC)
Philadelphia City Controller
Philadelphia Development Partnership (PDP)
Philadelphia Higher Education Network for Neighborhood Development PHENND
Philadelphia Parent Child Center, Inc.
Philadelphia Revitalization & Education Program
Philadelphia Unemployment Project (PUP)
Philadelphia Youth Network
Pioneers International, Inc
Potter's House Mission
Project H.O.M.E.
Scotland Yard
Second Antioch Church
SELF, Inc.
Southwest Nu-Stop
St. Hugh of Cluny Roman Catholic Church
Taller Puertorriqueno, Inc.
Temple
United Communities Southeastern Philadelphia
Urban League of Philadelphia
US Congressman Chaka Fattah
West EARN
West Oak Lane CDC
West Phila. Coal. of Neighborhoods and Business
West Philadelphia Financial Services Institute
Women in Transition
Women Organized Against Rape
Women's Business Development Center
Women's Law Project
Women's Opportunities Resource Center
Women's Way
WorkStream
YOACAP
For more information contact: Sonia Klukas, Community Consultant at Sonia.Klukas@do.treas.gov
Last Updated:
September 10, 2009 |
