Access to Safe and

Affordable Banking Products

A goal of the Coalition is to ensure that everyone has access to a safe and affordable bank or credit union account. Coalition partners offer products, services and resources that help improve financial capability, promote savings, and build assets and wealth.

The facts

100,000+ St. Louisans*

Lack Safe, Affordable Bank Accounts
  • 3.4% of all residents across the Greater St. Louis area do not have bank accounts.
  • 17.5% of African Americans across the Greater St. Louis area do not have bank accounts.
  • Nationally, approximately 12 million adults do not have bank accounts (are ‘unbanked’); another 24 million have a bank account but still use other expensive financial services for some transactions (are considered ‘underbanked.’)

* St. Louis Metropolitan Statistical Area—generally, the bi-state area.

Why it’s an issue

Tremendous Costs

of not having a bank account
  • The use of alternative financial services, like check cashers and payday lenders for routine financial transactions, can cost up to $1,200 per year or $40,000 over a lifetime!
  • Without a bank account, individuals lack immediate access to funds provided by direct deposit, such as from employment, stimulus checks, child tax credits, unemployment).
  • Those without bank accounts have a harder time saving, reducing debt and improving credit scores.
  • Without a safe place to deposit money, people without bank accounts are more likely to be victims of crime because they often carry large sums of cash or keep cash in their homes.
The Solution

Safe, Affordable,

Certified Bank-On Save-Up Accounts

Bank-On Save-Up certified accounts are ideal if you’ve never had a bank account, or as a “second chance” account.

  • Certified Bank-On Save-Up accounts are affordable, at $5 or less per month, with no unpredictable fees. 
  • Certified Bank-On Save-Up accounts do not allow overdraft or non-sufficient funds fees, so you’ll never be hit with a surprise fee.
  • Certified Bank-On Save-Up accounts always allow free deposits, free withdrawals, and free bill payments.

The Bank-On Save-Up Movement

Bank-On Save-Up Save Up St. Louis is proud to be part of the national Bank-On Save-Up movement, made up of more than 90 local coalitions across the country. The nonprofit Cities for Financial Empowerment Fund (CFE Fund) is the national partner for local Bank-On Save-Up coalitions, supporting local efforts and a robust learning community. They also provide a playbook for the Bank-On-Save-Up program here.


All certified Bank-On Save-Up accounts have earned this seal and offer the following features, and more:

  • No overdraft or hidden fees
  • Low monthly fees – $5 or less
  • Open with as little as $25
  • No minimum balance requirements
  • Online and mobile banking available, including online bill pay

Bank-On Save-Up St. Louis

Get Banked Today!

Ready to say goodbye to check cashing fees? Even if you’ve had banking issues in the past, you can take a fresh start and open a certified Bank-On Save-Up account with one of our trusted financial partners. We are here to meet you where you are and help you navigate through your financial journey. 

Whether you want to start the process online or in person with a dozen different Bank-On Save-Up products offered in and around the bi-state St. Louis and Illinois area, chances are there is a Bank-On Save-Up option in or near your neighborhood.


Partners in Affordable Banking

In addition to the Bank-On Save-Up products that align with national standards we’ve described above, additional safe and affordable banking products are available from our Coalition partners, who are committed to helping connect St. Louis area residents to safe and affordable banking products.

Want to join us and help the Greater St. Louis community become a safer, more accessible place to bank? Connect with us to learn more. Current partner? Visit our Partners tab for additional resources.