Numbers
For every number of these households, one household is unbanked or underbanked
What is 6?
This term describes a household in which noone has a bank account.
What is unbanked?
This program would give every California resident the chance to open a fee-free bank account.
What is CalAccount?
This is the amount of money that banks collected from accountholders in fees last year.
What is $5 billion?
This is one reason it is hard to keep a bank account open in California.
What are problems with ID requirements, high fees, not enough money to meet minimum balance requirements.
The CalAccount program would be run by this California elected official
Who is the STO/State Treasurer?
This is the number of unbanked and underbanked households in California.
What is 2.5 million?
This is an example of a fee that banks and credit unions charge to debit and checking accounts
What is lack of minimum balance monthly fee, overdraft fee, or insufficient funds fee?
This term describes a household in which at least one member has a bank account, but someone in the household also uses non-bank or non-credit union financial institutions to cash checks, pay bills, etc.
What is underbanked?