Join the CalAccount Community Coalition
Join us to make CalAccount a reality!
Fill out the form to let us know that your organization, business, or union stands with us in closing the racial wealth gap and in creating an equitable recovery for all Californians.
We urge you to join more than a hundred economic, racial, and social justice groups and labor unions in support of CalAccount. CalAccount is a program that offers Californians a no-fee, no-penalty bank account and debit card.
Nearly 1 in 5 California households are unbanked or underbanked relying on costly alternative financial services such as payday lenders, prepaid debit cards, and pawn shops. Unbanked or underbanked households pay proportionally more for their financial services, often lack savings accounts, have fewer opportunities to build credit, and face increased rates of loan rejection.
Limited access to financial services disproportionately impacts low-income communities and communities of color, widening the racial wealth gap. Over 30 percent of Black and Latina/Latino households are unbanked or underbanked. While Black, Latina/Latino, and Asian households combined make up just over half of California’s households, they make up 72 percent of California’s unbanked.
Providing Californians with a zero-fee, zero-penalty public option for essential financial services would empower all Californians, especially the unbanked or underbanked population, to create wealth and stability for generations. Our CalAccount community coalition successfully advocated for AB 1177, mandating the State Treasurer’s office to analyze and report on CalAccount to the legislature.
The CalAccount report, expected to be issued this summer, is only the beginning. Ensuring all Californians have access to a stable, affordable financial platform will require a committed grassroots movement. Join us in demanding a public option to exploitative, profit-driven banking.
Access to basic financial services is essential for all Californians. For these reasons, we urge you to join [organization name] in supporting the CalAccount Program.
Have questions or would like to learn more about CalAccount? Contact us.