Bank On Spokane, a consortium of seven Inland Northwest banks and credit unions and a number of area nonprofit organizations, has formed here to promote financial literacy and to provide low- and moderate-income residents with better access to fair and affordable financial services.

The consortium held a community kickoff event two months ago at Spokane Community College and now is marketing some of the financial services its members are offering to that demographic group, says Amanda J. Park, its manager.

The group is receiving support from a statewide Bank On Washington organization that, among other things, has helped it establish a website presence, at www.bankonspokane.org, and raise public awareness with TV ads and on billboards, Park says.

The group's financial partners include Global Credit Union, Washington Trust Bank, AmericanWest Bank, Inland Northwest Bank, State Bank Northwest, Banner Bank, and Mountain West Bank.

Also, though, Park says, "We're working closely with the nonprofits in the area," including Habitat for Humanity, Community Frameworks, and SNAP Financial Access, among others. Spokane County United Way has taken on the administrative role and is serving as fiscal agent for Bank On Spokane, she says. The United Way organization here is providing office space for Park, who is Bank On Spokane's only staff person.

City of Spokane Chief Financial Officer Gavin Cooley, who emceed the kick-off event, said in a press release, "The Bank On initiative works to make bank accounts and other basic financial services available to everyone in our community. This will allow many of our citizens to avoid paying large fees for cashing checks and paying bills. It is a simple step that can put individuals on a track to financial stability, thereby building a stronger, healthier community."

Bank on Spokane is an initiative of the Spokane CA$H Coalition, a local asset-building group comprised of corporations, government entities, and nonprofit organizations that want to help provide opportunities for lower-income working families and individuals to acquire, save, and grow money and other assets.