The goal of Bank On Save Up St. Louis is to ensure that everyone has access to a safe and affordable bank or credit union account.

Do you want to open a low cost bank or credit union account? Please visit our bank and credit union partner websites to learn more.

Do you want to open an account online to make sure you receive the federal economic recovery (stimulus) checks safely? Do you want to avoid check cashing fees? Open your account online by clicking on our featured Bank On Certified Accounts below.

These Bank On certified accounts can be opened online:

Bank of America logo

Bank of America, Advantage SafeBalance Banking Account

US Bank logo

U.S. Bank, Safe Debit Account

Carrollton Bank logo

Carrollton Bank, Basic Banking Account

CIBC Bank USA, EasyPath Access Account

Simmons Bank Member FDIC logo

Simmons Bank, Affordable Advantage Checking

First Bank logo

First Bank, Thrive Checking

Mainstream Financial Accounts Matter

  • Cost savings: The average person without a bank account spends 5% of net income on unnecessary fees for alternative financial services. This can amount to $40,000 over a lifetime – a significant amount for those who can least afford it.
  • Asset building: Without a bank account, a family lacks the ability to save reliably or automatically, or establish a banking relationship that can lead to accessing affordable credit for opportunities like a car, small business, or home mortgage.
  • Financial stability: Research shows that being unbanked makes it harder to achieve financial goals like reducing debt and improving credit scores. One recent CFE Fund study found that unbanked financial counseling clients were less than half as likely to be able to save, and over a third less likely to establish credit, as banked clients.
  • Public safety: 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 elderly, disabled, and undocumented immigrants can be particularly vulnerable.

63 million adults

in the US are un- or underbanked. They rely on costly alternative financial services – like check cashers, payday lenders, and pawn shops – for routine financial transactions.

A basic transaction account is an important first step in participating in the financial mainstream, depositing earnings securely, paying bills efficiently, accessing credit, and saving for emergencies and the future.

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