October 19 2010 Minutes

Meeting Minutes 09/14/2010

Present: Michele Besso (NW Justice Project), Sue Ford (US Bank), Dave Gilbreath (CCCSYV), Luz Gutierrez (RCDR), Sharynn Hosier (CCU), Steve Loeb (VISTA), Sylvia Martinez (IRS), Michelle Smith (CCU), Bill Stevens (AARP)

Agenda: The agenda was approved as presented.

Minutes: The September 14, 2010 minutes were approved as written.


Operations/training: High teller turnover impacts teller training and this continues to be a challenge for some financial institutions. It is not correlated with the end of a particular financial quarter. There haven’t been any ITIN issues that we know of.

Tracking: We have only received results from two banks for the last quarter. Thomas is no longer at HAPO; we need to find someone new there. We will research who the new person at HAPO to talk to is. Sue talked to Seattle CRA rep from US Bank and said that a slow start is normal for new Bank On programs. Steve will be working with financial institutions to report tracking information via the Bank On website reporting system. There was a discussion about getting 2-1-1 data about how many callers call in about Bank On.

Marketing : Chris, a reporter from the Yakima Herald Republic is working on a story about our Bank On Yakima program. He is looking for a consumer willing to provide a testimonial on how Bank On has helped. There was a discussion about timing the newspaper story with our new financial incentives campaign. Steve is identifying various media options to promote Bank On. We can get free publicity by getting on Radio KDNA talk shows, as well as buying ads from them. Isabel Garcia and Michele are willing to go on their shows to promote Bank On.

Financial Literacy/Incentive Program: Financial literacy classes continue to be provided monthly by CCCSYV (English) and RDCR (Spanish). Forms and certificates have been made for the program. There was a discussion about what to do about people who may not qualify for opening an account due to fraud or other issues. All agreed the incentive promotion forms need to be changed to indicate people must meet the financial institutions’ criteria for opening an account to qualify for an incentive. Steve reported we will make a new double sided referral card that promotes the incentive program. Change certificates so that they are redeemable within 60 days. Incentives have worked well for CCCSY V in the past. We will finalize procedure, then we will launch ad program. Luz wants to change the referral card in Spanish to make it more appropriate for our Spanish population. Other banks that said they are interested in have not been signing on. It was discussed that we need to get the other financial institutions on board if they want to participate. All agreed we should shoot for launching the incentives program in November and continue to promote the program with social service organizations and others.

EITC Tax Site Update: Bill Stevens reported everything is on track for the 2010 tax season that will start in Jan, 2011. Bill reported he will be attending a State IRS meeting in Issaquah next week.

Education/Outreach to Social Service Agencies: We continue to make educational presentations to various organizations to let them know about Bank On and how it might help their customers and clients. Steve reviewed list of recent presentations. We should present at Union Gospel Mission and YWCA as well. It seems that most organizations do not have conversations with their clients about their financial situation. Our goal is to help them incorporate financial education in their intake process and determine if Bank On might be of benefit to their clients. Some providers need more training. Some social service staff asked a lot of their own questions at a previous presentations. Can we be integrative with WorkSource? There wasn't much interest from WorkSource during the presentation there. BURST for prosperity works on educating providers. We will have a wine hour/presentation to social service partners on November 16th at Cascade Wine Company from 5:00-6:30PM.

Expanding Bank on Membership: We continue to look for ways to expand membership by more financial institutions. AmericanWest and Key Bank continue to express interest, but so far, they haven’t signed up.

Grant from US Dept of HHS: Dave thanked Steve for his hard work in writing and receiving a grant from the US Dept of Health and Human Services for $5,500. We will use this for the incentive program.

Recruiting New VISTA for YCABC Support: Dave reported we will be recruiting Steve’s replacement in October, with hopes of hiring someone by the end of the year. This will allow some overlap as Steve Loeb’s tenure ends in late Jan, 2011.

Bank on Washington Update: Steve and Dave attended the WABC on Oct 7, 2010. The state continues to explore ways to initiate a state wide Bank on program; however, funding and staffing constraints continue to be the biggest obstacles to implementation.

New Business/Announcements: Steve and Dave will participate in a HUD sponsored Home Ownership Fair in Granger on Oct 23, 2010. The fair has a two-fold purpose: help people learn how to buy their first house; and provide help for people who are in distress with an existing mortgage. We will have Bank On materials available for handout at the fair.

Next Meeting: November 15, 7:30am, at CCU Boardroom.

Recorded by,

Steve Loeb
Americorps VISTA