May 11 2011 Bank On Minutes

Bank On Minutes
(May 11, 2011)

Present: Chris Bonser (DSHS), Lance Stephens (United Way), Adam Coe (Yakima Federal), Sue Ford (US Bank), David Gilbreath (YCABC), Kimmy Mauldin (YCABC)

Agenda: Dave added to the agenda: measurable goals for next year, May 23rd Bank On Seattle meeting, ABC Conference in June. Otherwise, approved.

Review/Approve Minutes of April 12, 2011 meeting: Approved as submitted

Update on WA Bank On Initiative: Dave: Bank On program for the state to be announced in late June early July. Main goals are to have a set of services that Bank On Washington would offer, figure out how to track the actual accounts, then by July they want some marketing templates for counties to personalize for their particular community.

ABCs have to have a Bank On program in order to continue receiving Commerce grant money. Tracking is difficult; Dave wants something brilliantly simple. Monthly manual tracking in Yakima will continue but hopefully soon the State will have a reporting system for everybody in the state.
May 23rd meeting in Seattle they want input from financial institutions about tracking and the best way to figure out what they should do.

Bank On Committee Reports

• Operations/Training: Discussed a possible teller incentive throughout all the participating financial institutions to encourage more Bank On account referrals. The incentive is looking simply for referrals, since the tellers cannot open the accounts. Incentive hopefully keeps the Bank On program in the tellers’ minds since they cannot add the program to the computerized trainings. We will discuss this idea at the next meeting, everybody needs to brainstorm. Dave will check with Bank On San Francisco to see if they do any teller incentives.

• Tracking and Reporting
o Monthly/Manual Tracking: Monthly tracking is requested to make sure the financial institutions get used to tracking and reporting. Should just be for a little while, could go back to quarterly eventually but not now. Kimmy needs to send out reminders to the financial institutions for tracking.

• Marketing: Michelle Smith gave us a contract to help us with advertising for Bank On. We will pay her $50 an hour (not to exceed $900), she will develop so they can be distributed as appropriate. Ads in newspaper, radio, possibly tv; brochures and flyers for social services. Billboard idea is on hold until we get resources (grant money and pro designer). Email campaign and personal delivery of materials to social services.
Lance asked Kimmy to develop a paragraph about Bank On for the United Way website/newsletter. And to write a page about successes and data concerning Bank On. If we do more electronic flyers and brochures we can send to social services/financial institutions, that will be easier to update and cut down on printing costs.

• Financial Literacy: La Casa Hogar hosts financial literacy classes so we can possibly partner with them and get the incentive to them as well. We have two different financial incentives: one for Bank On where a person attends a financial education class, opens a Bank On account and keeps the account open in good standing for 60 days (gets $50 directly in bank account). The second incentive is simply for attending specific financial literacy courses and they get $50 for completing the course.
Maria from RCDR is looking for dates for Spanish classes. Adam has contacts with Catholic Charities who do in home financial classes so maybe they would be willing to open these classes to the public. Bryan Ketcham might be able to help us out with that as well.
Dave will present at the Homeless Network meeting in June.

It was felt that the Bank On Yakima monthly meeting and the YCABC meeting were too close together. Suggested the 1st Wednesday of the month for Bank On meeting. Next meeting will be June 1st at US Bank at 7:30 AM

Still looking for a testimonial for advertising materials and one for breakfast for Convention. Blanket testimonial from social service (or Apprisen or something) instead of individual may be better due to possible embarrassment and pre-existing fear/distrust.

Other Business: Yakima Herald still hasn’t gotten back to Sue about doing an article on Bank On. Sue still wants to talk to Chambers to bring Bank On to the forefront of their minds. Sunrise or the other Rotary club, takes a long time to get a slot to talk about a program. Kiwanas and Zonta would be a good club to talk with as well.

Measurable Goals: had a high goal of 400 accounts; we need to see how many have actually opened.
• Getting name out to agencies
• Gaining more contacts
• Overhauling and improving tracking

Adjourn: Sue called the meeting to a close at approximately 8:45 AM. Next meeting June 9th at US Bank at 7:30 AM.