Our 10-year commitment

Banking Inclusion Initiative. Connecting more people to banking.



We're launching the Banking Inclusion Initiative, a 10-year commitment to accelerate unbanked individuals' access to affordable mainstream accounts and help unbanked communities have easier access to low-cost banking. We’re focusing on Black and African American, Hispanic, and Native American/Alaska Native families, who account for more than half of America's 7 million+ unbanked households. We're also assisting those who are underbanked and underserved, who may have a bank account yet still use high-cost, non-bank services.

Now is the time to bring together a broad and diverse group of national and community stakeholders to address long-standing inequities by increasing access to digitally-enabled transactional accounts and financial health coaching. Through this initiative, we also will collaborate with partners to explore solutions to the credit challenges facing unbanked individuals.

See our Wells Fargo leaders discuss the importance of accelerating financial inclusion. Watch the video



According to 2019 FDIC data, Black and African American, Hispanic, and Native American/Alaska Native families account for more than half of America's 7 million unbanked households.

Quote: Through our Initiative, we will organize our resources under one umbrella and work with a broad and diverse group of stakeholders on a sustained multi-year effort to accelerate financial inclusion. A headshot of Charlie Scharf, CEO, Wells Fargo, appears to the left of the quote text.


Our commitment in action


Access to affordable products and digital solutions

  • Deepen our existing relationships with Black-owned minority depository institutions (MDIs) to support their work in the communities they serve, including outreach efforts and providing the option for their customers to withdraw cash from our ATMs and incur no Wells Fargo fees. In addition, we are offering access to a dedicated relationship team who will work with each MDI on financial, technological, and product development strategies to help strengthen and grow their institutions.
  • Continue to recognize that unbanked and underbanked individuals need access to short-term credit. We're increasing funding and support to expand the Credit Builders Alliance (CBA) low-cost, credit-building consumer loan program. The organization's CBA Fund will provide patient loan capital, capacity-building grants, and technical assistance to their nonprofit lender members, enabling low-cost consumer loans for low- to moderate-income (LMI) individuals to meet short-term cash needs and establish or improve their credit scores.
  • Increase awareness and outreach about low-cost, no overdraft fee accounts, such as our Clear Access BankingSM. We introduced Clear Access Banking in 2020 to offer an affordable account designed for those who are new to banking or have encountered past challenges opening or keeping a bank account. It's certified by the Cities for Financial Empowerment (CFE) Fund for meeting Bank On National Account Standards for safe and appropriate financial products to help people enter or re-enter the mainstream financial system, and it gives full access to our nationwide branch and ATM network, and digital services.
  • Broaden our collaboration with CFE Fund and local Bank On coalitions to pilot new strategies and approaches that help overcome barriers to banking access in several markets with high concentrations of unbanked households. The program will focus on helping those who are unbanked navigate the financial system, develop an easier, more seamless path for them to open a Bank On-certified account and access services they need within mainstream banking. It will be used to identify best practices that can be applied on a national scale.
  • Work closely with fintechs that are deeply committed to helping underserved communities. We're an investor in Greenwood, a digital platform for Black and Hispanic individuals and business owners. We are collaborating with the fintech MoCaFi to help provide banking to unbanked individuals, including offering MoCaFi customers the ability to use their MoCaFi debit card at our ATMs without incurring fees from Wells Fargo.
Quote: This exciting commitment from our partners at Wells Fargo is more than just offering a great Bank On-certified account. This work can break new ground in our mutual efforts to help unbanked communities. A headshot of Jonathan Mitz, CEO, CFE Fund, appears to the left of the quote text.

Make financial education and advice accessible

  • Team with Operation HOPE to support the launch of HOPE Inside centers within diverse and LMI neighborhoods, which will foster inclusion through financial education workshops and free one-on-one coaching to help community members take control of their finances and build their credit scores. 
  • Partner with the Historically Black Colleges and Universities (HBCUs) Community Development Action Coalition to launch Our Money Matters, a comprehensive financial wellness initiative for college students of color, who disproportionally face greater financial challenges and college debt. This initiative aims to equip students with much needed financial capability skills and access to support services. Over the next 3 years, the program will expand to 25 HBCUs and Minority Serving Institutions. 
  • With more than 25% of our branches in LMI community census tracts, we will introduce a new program within LMI neighborhood branches that will be designed around the needs of the diverse communities we serve. The branches will feature redesigned spaces created to deliver one-on-one consultations, improve digital access, and offer financial health seminars, and through these efforts, will help build trust. We will select a set of pilot locations to introduce the program, with a plan to expand to 100 LMI neighborhood branches with a high concentration of unbanked individuals.

Quote: Supporting this game changing, transformational work at Operation HOPE will support underserved communities in very meaningful ways. A headshot of John Hope Bryant, Chairman and CEO, Operation HOPE, Inc., appears to the left of the quote text.

Quote: With branches in more communities than any other financial institution, we have a responsibility to do even more to address this issue, and the pandemic has increased the urgency. A headshot of Mary Mack, CEO of Consumer and Small Business Banking, Wells Fargo, appears to the left of the quote text.

Hope Enterprise Corporation, LULAC (League of United Latin American Citizens), NAACP (National Association for the Advancement of Colored People), NBA (National Bankers Association), NCRC (National Community Reinvestment Coalition), NCAI (National Congress of American Indians), National Urban League, and UnidosUS logos.

Launch a National Unbanked Advisory Task Force

Establish and lead a broad coalition to help with this multi-year commitment. This task force will work with us to bring more people into the banking system from underserved communities, while also providing feedback on the initiatives that will be implemented and the best ways to measure success.  The task force will feature representatives from Hope Enterprise Corporation, LULAC (League of United Latin American Citizens), NAACP (National Association for the Advancement of Colored People), NBA (National Bankers Association), NCRC (National Community Reinvestment Coalition), NCAI (National Congress of American Indians), National Urban League, and UnidosUS.

Quote: Black households are unbanked at nearly 6 times the rate of white households. I look forward to working with Wells Fargo to ensure all people have access to the financial tools needed to climb the economic ladder. A headshot of Bill Bynum, CEO, Hope Enterprise Corporation, appears above the quote text.

Quote: LULAC’s historical partnership with Wells Fargo will increase awareness and access for unbanked communities, getting to the heart of creating equity in America. A headshot of Sindy M. Benavides, CEO, LULAC., appears above the quote text.

Quote: The NAACP is pleased to partner with Wells Fargo in support of their commitment to helping more communities of color gain access to affordable banking services and fully participate in developing economic and financial stability. A headshot of Derrick Johnson, President & CEO, NAACP., appears above the quote text.

Quote: The National Bankers Association and our members have been working to eliminate the racial wealth gap for nearly a century, so we are excited to be a part of this important new initiative. A headshot of Robert James II, Chairman, National Bankers Association, appears above the quote text.

Quote: Today's racial injustice is a reminder of the historic discrimination endured by so many. It's long due that all citizens are offered the opportunity and financial support to build wealth. Wells Fargo's initiative takes direct aim at that goal. A headshot of John Taylor, President and Founder, National Community Reinvestment Coalition, appears above the quote text.

 Quote: I look forward to shaping how we do things differently to help remove barriers to financial inclusion and economic advancement for Native American households. A headshot of Danté Desiderio, CEO, National Congress of American Indians, appears above the quote text.

Quote: For Black households especially, programs like the Banking Inclusion Initiative represent a much-needed path to financial stability and an opportunity to begin building wealth. A headshot of Marc H. Morial, President and CEO, National Urban League, appears above the quote text.

Quote: This strong coalition of Latino, Black, and Indigenous organizations will offer valuable guidance helping unbanked people get on the path to achieve financial stability and security for their families. A headshot of Janet Murguia, CEO, UnidosUS, appears above the quote text.