The Bank on Jacksonville (BOJ) initiative entails a concentrated effort to promote low or no cost financial accounts, increase financial services, and implement a grassroots outreach to engage many of the Jacksonville unbanked individuals into banking relationships and away from costly alternative financial services.
Bank on Jacksonville is a collaboration of a number of locally based banks, credit unions and community organizations interested in helping people manage their money and contribute to the success of the community.
The steering committee led by the War on Poverty-Florida, and a group of community based organizations worked together to achieve the following goals:
- Increase the number of starter accounts available for consumers in Jacksonville
- Help those who have had accounts closed for reasons other than fraud receive a Second Chance, or FreshStart account
- Make education on money management available to all
- Raise community awareness on the high costs of check cashers and pay day lenders – demonstrating the benefits of becoming an account holder
Participating Financial Institutions and Community Organizations