Bank On CT connects residents with safe and affordable bank accounts. Our goal is to increase the number of banked individuals in Connecticut by sharing information about accounts that have no overdraft fees and a low or no monthly cost.
Based on local efforts and lessons learned, the Cities for Financial Empowerment Fund (CFE Fund) put together these Bank On Guiding Principles to outline fundamental shared ideals of the Bank On movement and local coalition priorities.
For more information on this program, please contact Sabrina Acosta at firstname.lastname@example.org or 860-951-2212 x245.
Bank On CT encourages financial institutions throughout Connecticut to create banking products that meet the Bank On National Account Standards. The products featured below already meet those standards. Click on each name or logo below to access services.
On Wednesday, May 31, 2023, in partnership with the Waterbury Reentry Welcome Center and Thomaston Savings Bank, CAHS hosted a Healthy Banking and on-site account opening event at the center. Participants attended a healthy banking workshop and then had the opportunity to open an account with Thomaston Savings Bank. Thomaston is also a Bank On partner and offers the uncommon certified Bank On account which has no minimum deposit minimum deposit requirements and no overdraft fees. The event was sponsored by the United Way of Greater Waterbury who provided the funding for the opening deposits. We were able to assist 13 participants with opening accounts, one of whom was a returning citizen who served 34 years in prison. Today was his first official day of freedom and he was able to open a bank account! He said he was grateful for the service and felt very privileged for the opportunity to not only open an account but have it funded.
A huge thank you to the United Way and Thomaston Savings Bank for their partnership in this effort!! We look forward to hosting another event real soon!
Melissa was referred to the CAHS Bank On CT initiative by the Greater Hartford Reentry Collaborative to get assistance with filing for her Economic Impact Payment. This program offered the formerly incarcerated the opportunity to apply for the stimulus by the deadline of 11/21. In speaking with her, we learned that she not only needed help with getting her stimulus payment but she didn’t have a bank account. Our Bank On CT Program Coordinator saw this as an opportunity to inform Melissa about Bank On CT. Bank On works with municipalities, and community based organizations to promote safe, affordable, and certified bank accounts with our partner financial institutions.
Tori Hamilton, Director of Asset Building Programs, assisted Melissa with opening a Key Bank Hassel Free account online and then referred her to one of our VITA sites to get assistance with applying for her stimulus payment. The services Melissa received resulted in her receiving $1,200, saving over $300 in tax preparation fees, and opening a safe and affordable bank account. Melissa stated, "I am very grateful to you Tori. I had no one to help me and out of the blue sky you came to my aid. Thank you from my heart."