Bank On of Northeast Louisiana has received a grant to improve financial stability in Northeast Louisiana. Access to safe and affordable financial products and services is essential to achieving financial stability. Unfortunately, millions of Americans are outside of the stabilizing financial mainstream, without a safe banking account to manage their money and build towards a stronger financial future. Bank On coalitions across the country are working to connect residents to safe, affordable accounts, and Bank On of Northeast Louisiana has just received a new grant to supercharge these efforts.
The United Way of Northeast Louisiana and national nonprofit the Cities for Financial Empowerment Fund (CFE Fund) have announced Raya Boyte-Starnes as Northeast Louisiana’s Bank On Fellow for a two-year term to advance banking access efforts at scale. This includes identifying opportunities to connect access to safe accounts to programs and payments. Northeast Louisiana is one of six Bank On coalitions across the country whose work will be supported by this cohort of the Bank On Fellows initiative.
The national Bank On Fellowship Program provides funding to six Bank On coalitions to support a full-time staff position for two years — a “Fellow” — to lead coalition activities. The six Bank On coalitions include Bank On Arizona, Bank On Inland SoCal, Bank On Cleveland, Kentucky Bank On Network, Bank On Northeast Louisiana, and Bank On New Mexico. Launched in 2017 the Bank On Fellowship Program is the first national initiative focused on building experienced banking access leaders across the country, equipping them with the training, tools, and resources to make significant advancements in local banking access efforts while at the same time generating best practices for other coalitions.
“United Way of Northeast Louisiana is committed to empowering individuals and families towards financial stability because we believe that when people have the tools and resources they need, they can build a brighter future for themselves and their communities," said Janet S. Durden, President of United Way of Northeast Louisiana.
The CFE Fund leads the national Bank On movement, supporting local coalitions working to connect individuals and families to the financial mainstream through partnerships between local governments, financial institutions, and community organizations.
“Banking access is foundational to financial stability,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “A safe, affordable, mainstream account is critical to helping people manage their money and improve their financial health. Bank On coalitions across the country connect people to safe accounts at scale, and a dedicated coalition leader will only supercharge this work. We are proud to partner with the Wells Fargo Foundation to support Bank On of Northeast Louisiana and their new full-time Fellow Raya Boyte-Starnes in helping Northeast Louisiana residents connect to safe financial products.”
The objective of Bank On NELA is to improve financial stability by connecting residents to safe and affordable mainstream accounts in banks and credit unions, raising public awareness of these efforts and opportunities, and expanding access to financial education and other financial empowerment opportunities.
Raya Boyte-Starnes, Bank On NELA’s Fellow, serves as the Community Impact Associate at United Way of Northeast Louisiana. She holds a Bachelor of Arts in Political Science from the College of Business and Social Sciences at the University of Louisiana Monroe. Boyte-Starnes is an Accredited Financial Counselor (AFC), Association for Financial Counseling & Planning Education (AFPCE).
Boyte-Starnes says, "We are truly honored to join Bank On's esteemed 4th Fellowship Cohort. Witnessing the rapid growth of Bank On NELA in just a year has been nothing short of inspiring. Our participation in this cohort represents a pivotal opportunity to further advance banking accessibility, provide valuable financial education to our community, and effect enduring positive transformation in Northeast Louisiana."