April 12 2011 Bank On Minutes

Bank On Yakima Committee Minutes
(April 12, 2011)

Present: Sue Ford (US Bank), Dave Gilbreath (YCABC), Bill Stevens (AARP), Chris Bonser (DSHS), Jennifer Moser-Bales (Wells Fargo Bank), Lance Stephens (United Way), Maria Santiago (DSHS), Kimmy Mauldin (YCABC)

Call to Order: Sue Ford called meeting to order approximately 7:35 am. Sue is the new Chair, Bank On Yakima Committee.

Agenda: The agenda was approved, following two additional items: marketing plan (including incentives) for Bank On Yakima and update on Bank On Thurston County.

WA Bank On Update: Bank On Washington is moving forward and, as discussed at last month’s meeting, the following deliverables are expected by mid-year:
• Minimal Bank On program requirements
• Reporting metrics and a system for reporting account data
• Marketing tools that can be tailored at the community level
• Funding sources for Bank On WA
Although the WA Bank On won't be mandatory, Asset Building Coalitions that receive state funding must have a plan to implement Bank On.

Bank On Thurston County: Dave Gilbreath reported attending the kick-off for Bank On Thurston County on Apr 5, 2011 in Olympia to discuss our experience, successes and challenges with Bank on Yakima. The meeting was well attended with over 70 people. About a third were representatives from financial institutions, and another third represented social service agencies. They expect to launch Bank On Thurston within the next 60-90 days. Jean Marie Thompson is the one who coordinated the meeting with the local ABC meeting and United Way.

Bank On Committee Reports:
• Operations/Training: How do tellers stay informed on Bank On? We need more brochures; teller turnover is a big problem. Wells Fargo really focuses on educating tellers to open the conversation, but the banker is the one who knows the program really well; US Bank is changing their free checking to Checking with Choice and they had to change their computerized tracking to manual tracking
• Tracking: Following a brief discussion of tracking and reporting challenges, there was agreement to go to monthly reporting; Kimmy agreed to contact Bank On financial institutions to see if they can do monthly reporting
• Marketing: Dave and Kimmy discussed the upcoming marketing plan;; will re-do brochures, radio, print advertising; Sue contacted Yakima Herald so we could get an article about Bank On; first class is April 18th at Habitat; will contact Employment Security—Marcus in Division; Kimmy is developing promotional posters and flyers
o Sue to contact Chambers after incentive program rolls out; DSHS has a contract with YVCC to provide classes for parents and they can see if they can incorporate Bank On or YCABC into life skills class (Angel Reino); need to make presentations to food banks and other social service agencies
• Financial Literacy: Add to calendar in the Herald to list financial education classes. financial education classes with CCCS in English and RCDR in Spanish; focus will be on the $50 incentive program and show who the participating banks are; if a bank offers $50 of their own incentive, we still offer our $50 if they go to the financial education class; Yakima Valley Credit Union offers an hour and a half class on budgeting.
o Tell 2-1-1 about class schedule; Check Wise book for classes (get copies of Check Wise books for banks involved) Wells Fargo has Money Smart materials available if Check Wise is not available in Spanish.
o Tell people about Goodwill’s classes for further education after our financial education class. Dave will contact Goodwill, Beth. He will also contact Darlene with Cashmere Bank.
o Wells Fargo has 9 bilingual bankers who can and will do financial education classes in Spanish and Maria Santiago also is willing to teach a Spanish class.
o Tracking who takes financial education classes needs to occur
Website Enhancement (www.bankonyakima.org): Steve Loeb continues to enhance the Bank On Yakima website. He has updated general content and is updating the calendar to include financial education classes and links to our promotional materials. A web-based form has been developed to allow financial institutions to request additional pamphlets and other Bank On materials.

Social Services: DSHS attended today's meeting and offered some great ideas on how to promote Bank On. We need to make presentations to various agencies. Maria suggested: food bank consult, rotary, chambers, La Casa Hogar, Yakima School District, Ready by Five, DSHS, Homeless Network, Memorial Hospital, Farmworkers Clinic, etc. Email ideas to Sue and copy Dave and Kimmy so we can make a list. We also need to get in better contact with social services so they can offer Bank On information and contacts to their clients.

Testimonial: We are still seeking new Bank On clients who are willing to share their story with the media; Sue and Jennifer have potential new account holders who might be willing to discuss their experience

Other Business/Announcements: Yakima Federal Savings and Loan has Joined Bank On Yakima and we have received their signed memorandum of understanding.

Next Meeting:Everyone agreed we should meet monthly. The next meeting is scheduled for Wed, May 11, 7:30 am at US Bank, 202 Yakima Ave.

Recorded by,

Kimberly Mauldin
Americorps VISTA