Banking Inclusion Initiative. Connecting more people to banking.


The Banking Inclusion Initiative is our 10-year commitment to accelerate the access of unbanked communities to affordable mainstream accounts and 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.

We have brought together a broad and diverse group of national and community stakeholders to increase access to digitally-enabled transactional accounts and meaningful financial education. Through this initiative, we've been collaborating with partners to test new solutions and empower individuals through financial coaching on budgeting and credit.


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 have organized 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

  • Deepening our existing relationships with several Black-owned minority depository institutions (MDIs) to support their work in the communities they serve, including outreach efforts and providing for MDI institution customers the option to withdraw cash from our ATMs and incur no Wells Fargo fees.
  • Increasing awareness and outreach about low-cost, no overdraft fee accounts, such as our Clear Access BankingSM option that is designed for those who are new to banking, or have encountered previous challenges opening or maintaining a bank account.
  • Broaden our collaboration with the Cities for Financial Empowerment (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, focused on developing a more seamless path for them to navigate the financial system.
  • Collaborating with MoCaFi to help provide banking services to unbanked individuals, including offering MoCaFi customers the ability to use their MoCaFi debit card at our ATMs without incurring fees from Wells Fargo. Additionally, we are an investor in Greenwood, a digital platform for Black and Hispanic individuals and business owners.
  • Supporting to expand the Credit Builders Alliance (CBA) low-cost, credit-building consumer loan program to provide loan capital, capacity-building grants, and technical assistance to unbanked and underbanked individuals who need access to short-term credit.

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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 Mintz, CEO, CFE Fund, appears to the left of the quote text.


Make financial education and advice accessible

  • We have teamed up with Operation HOPE to establish HOPE Inside financial coaches within selected Wells Fargo branches across the U.S., starting with Atlanta, Houston, and Oakland. 
  • Now live at 14 schools, we've partnered with the HBCU Community Development Action Coalition to launch Our Money Matters at Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSIs), 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. 
  • With more than 25% of our branches in low- to moderate-income (LMI) neighborhoods, we are introducing a new program within LMI neighborhood branches specially designed around the needs of the diverse communities we serve. The branches feature redesigned spaces created to deliver one-on-one consultations, improve digital access, and offer financial health seminars. We have selected a set of pilot locations to introduce the program, with a plan to expand to 100 LMI Neighborhood Community Connections branches that have a high concentration of unbanked individuals.

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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.

National Unbanked Task Force Established

We have established and are leading a task force that is collaborating with us to bring more people into the banking system from underserved communities, while also providing feedback on the strategies and initiatives, and the best ways to measure success. The task force includes 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, 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.

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