The purpose of the Native Bank On ONAC Initiative is to promote greater access to financial services in Native communities. An important part of expanding such access is establishing the opportunity for Native peoples to open safe and affordable transactional financial accounts. The Native Bank On ONAC initiative is housed within the Oklahoma Native Assets Coalition, Inc. (ONAC), which has administered the first national Native banking access initiative in the U.S. since 2019. While ONAC was started in Oklahoma in 2001, it has kept its name and serves Native communities throughout the country.
The national Bank On initiative (of which Native Bank On ONAC is a part) supports accounts that meet specific national certification standards that are designed to create low-cost accounts that help unbanked and underbanked individuals have greater access to safe, affordable, and effective mainstream financial services and products.
As part of our Native-focused Bank On promotional efforts, ONAC 1) provides Native-specific banking access resources; 2) works with financial institutions as they apply to certify specific accounts with the Cities for Financial Empowerment Fund (the lead national organizations that supports Bank On goals); 3) helps to connect Native programs working on improving banking access to financial institutions interested in promoting Bank On certified accounts to tribal citizens; and 4) provides current Bank On account information to the tribal citizens ONAC serves through the various asset building programs it administers.
Please complete the interest form to express your interest to ONAC in Native-related banking access issues and coalition activities. Here is a link to the form: https://www.surveymonkey.com/r/NativeBankOnONAC.
Thank you for all your work to support banking access in Native communities!