City Launches Bank On Rochester to Improve Financial Access for City Residents

Mayor Malik D. Evans announced the launch of Bank On Rochester on Monday, Nov. 4, a city initiative aimed at expanding access to safe, affordable, and nationally certified bank or credit union accounts for Rochester families. This coalition-led effort seeks to reduce financial barriers faced by unbanked and underbanked residents, fostering financial stability and empowerment across the community.

“Financial stability is the foundation of economic mobility,” said Evans. “With certified Bank On Rochester accounts, families can access direct deposit for paychecks, pay bills efficiently, and receive tax returns securely. This initiative is a step towards creating social and economic equity, making Rochester a safer and more prosperous city for all.”

The Mayor’s Office of Financial Empowerment has brought together 29 banks, credit unions, and community-based organizations to address financial exclusion, access barriers, and strategies to provide low- or no-fee checking accounts. These accounts, which are available through Bank On Rochester partners, are designed to help individuals and families build a solid financial foundation without overdraft fees.

Rochester has high numbers of unbanked and underbanked residents, with these challenges particularly affecting Black and Latino communities. Many residents rely on high-cost alternative financial services like check-cashing centers, prepaid cards, and payday loans. Nationally, the percentage of Black and Hispanic families without full access to banking is nearly three times higher than that of White families. Bank On Rochester will work to connect residents to secure, certified checking accounts that offer convenience and avoid overdraft fees.

City residents interested in affordable banking options are encouraged to visit www.cityofrochester.gov/BankOn for more information.