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#1708428 - 06/08/12 03:38 PM BankOn
Sewanee, CRCM Offline
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Posts: 435
TN
Does anyone have any experience with BankOn? I've been asked to meet with some other area banks to explore the possibility in our market, and would love to hear from others.
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#1708497 - 06/08/12 04:54 PM Re: BankOn Sewanee, CRCM
Pale Rider Offline
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My bank has supported Bank On programs beginning with the first in San Francisco. It is strictly an awareness program on bank products and services, meaningful data is difficult to obtain since most programs simply acculute the number of new accounts opened and not how behavior has changed for the unbanked.

But your bank can get investment and service test credit for being involved, if you choose to pursue.....
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#1708685 - 06/08/12 08:23 PM Re: BankOn Pale Rider
Sewanee, CRCM Offline
Gold Star
Joined: Dec 2006
Posts: 435
TN
Appreciate the insight.
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#1708965 - 06/11/12 05:23 PM Re: BankOn Pale Rider
Sewanee, CRCM Offline
Gold Star
Joined: Dec 2006
Posts: 435
TN
Just had a thought. What was the basis of your investment credit?
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#1708967 - 06/11/12 05:27 PM Re: BankOn Sewanee, CRCM
JUST CALL ME CRA Offline
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Our bank has considerable experience with Bank On. However, the person that was actually the expert is no longer with the bank. But I may be able to answer specific questions if you have them. Let me know. Thanks.
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#1708972 - 06/11/12 05:31 PM Re: BankOn Sewanee, CRCM
Pale Rider Offline
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http://www.occ.gov/static/community-affa...e09spring01.htm

...our primary federal regulator includes the bankon programs as an example for community development investments....we include a copy of the above .....

most if not all bankon programs collect account opening info by zip code, which the Federal Reserve, as the independent recipient of all the data, then converts to census tracts to determine that a majority of the new accounts are opened in LMI census tracts...

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