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Home My WebLink AboutOFFICE OF THE GOVERNOR AND ORANGE COUNTY UNITED WAYA-2009-190 Mo-ry A~gu~ lar . c BANK ON CALIFORNIA/SANTA ANA MEMORANDUM OF UNDERSTANDING OFFICE OF THE GOVERNOR, CITY OF SANTA ANA, AND ORANGE COUNTY UNITED WAY July 1, 2009 -June 30, 2010 I. BACKGROUND Bank accounts are an onramp to economic mobility and affordable financial services. But millions of California working families don't have them. Bank on California is a collaborative, voluntary initiative that will bring together the Office of the Governor, local Mayors' offices, local financial institutions, local community organizations, regional United Ways, and federal and state regulatory agencies to tackle this problem head-on. Bank on California, through the Bank on Santa Ana program has a goal of assisting 6000 "unbanked" Santa Ana residents per year open starter bank accounts and enter the financial mainstream, where they can begin saving, build a credit history, gain access to lower-cost sources of credit, and invest for their future. We will also connect community residents with financial education opportunities provided by financial institutions and community groups. The initiative will build on the success of the Bank on San Francisco, Bank on California, and other similar programs in other cities. The initiative will launch in first quarter of 2010. II. OVERALL PARTNER ROLES AND RESPONSIBILITIES The Bank on California/Santa Ana coalition. will include a variety of institutions and individuals who will bring their unique capacities to help local unbanked residents enter the financial mainstream. 1. Financial institutions-banks and credit unions-will: • Develop and market starter accounts with baseline criteria. • Connect customers with local financial education opportunities. • Share data on accounts opened. • Identify challenges to opening new accounts for targeted customers. 2. Bank regulatory agencies will: • Assure financial institutions that Bank on Santa Ana is in compliance with federal banking laws. • Encourage banks to meet their obligations under the Community Reinvestment Act. • Inform them they will receive positive consideration under CRA for offering low-cost bank products and services. 3. Community institutions-including CBOs, employers, churches, schools, etc-will: • Be "trusted messengers" who can inform their clients about how and why they can open starter accounts. • Connect them with financial education opportunities. 4. Bank on Santa Ana Design Team will: • Consist of representatives from City of Santa Ana, Office of the Governor, Orange County United Way, FDIC, and chairs of the workgroups as well as any other key partners designated. • Be responsible for overall coordination of the initiative designed by the Bank on Santa Ana coalition with guidance from the Office of the Governor. • Plan program tasks and timelines for launching, operating and sustaining the initiative. • Be responsible for creating agendas, minutes and maintaining ongoing communication with members. • Review progress towards goals and make recommendations for strategies of success. • Identify resources to expand and sustain the initiative. III. SPECIFIC PARTNER ROLES 1. City of Santa Ana will: • Work collaboratively with remainder of Design Team to build the local coalitions. • Work with United Way to develop the citywide promotional campaign, launch and media strategy and work collaboratively with the Governor's Office. The campaign will draw heavily on pro bono PSA ad placement and creative media partnerships. • Undertake outreach to local community based organizations to join the coalition • Provide input on local financial education opportunities. • Provide input to select the local coordinating organization. • Provide input into materials design, content, and local website. • Help set local numeric goals. • Work collaboratively with all partners to achieve goals. • Explore with partners resources that can support Bank on Santa Ana. 2. The Bank on Santa Ana Design Team will: • Take the lead on working with key partner institutions-local financial institution branches, community groups, employers, churches, schools-to promote how and why unbanked residents can open starter accounts and take advantage of financial education opportunities. • Ensure that coalition partners are well-educated about the program via direct trainings; train the trainer forums; or other venues which promote Bank on California/Bank on Santa Ana's mission and goals. • Build connections between local financial institution branch staff and community groups. • Assist with local coalition convenings. • Work to build and shape the coalition. • Work collaboratively with all initiative partners. • Assure that data is collected appropriately in order to monitor progress toward goals. • Assist the Chairs in coordinating the Committees. • Serve as the liaison to the CBOs. 3. The Governor's Office will: • Set statewide goals. • Explore statewide commitments from larger statewide financial institutions to support Bank on California. • Coordinate and support efforts statewide. • Ensure smooth communications and sharing of best practices/solutions to challenges across participating cities. • Promote the initiative statewide through media outreach and the Governor's communication efforts. • Aggregate statewide data from banks for local coalitions. • Partner with cities to spearhead the public awareness effort. • Work with partners to develop communications materials, advertising collateral, and a website. • The Office of the Governor, Orange County United Way and the City of Santa Ana may explore resources needed to support the initiative. 4. The FDIC will: • Support the local coalitions • Follow-up with financial institutions to secure financial institution participation in local coalitions. • Assist with planning and implementation of all convenings. • Promote the local initiatives in their work with local financial institutions. 5. The Orange County United Way will: • Encourage their networks of community organizations to participate in Bank on California/Santa Ana (informing their constituents about how and why they can open accounts; linking them to financial education opportunities; and, providing financial education opportunities when appropriate). • Integrate Bank on California/Santa Ana into their complementary initiatives such as Earn It! Keep It! Save It!; the Financial Stability Initiative, Prosperity Hubs, etc., when appropriate. • Participate in and promote Bank on California at quarterly convenings. • Encourage the integration of 211 services as a means of disseminating information on Bank on Santa Ana. • Contract with Santa Ana based CBOs to provide training and outreach strategies to Santa Ana residents, if needed. • Be responsible for adhering to funder grant requirements generated and managed by Orange County United Way and submitting grant reports as defined by funder. • Coordinate learning opportunities and communication between all Bank on California partners and coalitions. • Convene the local coalitions on a consistent basis-with support from committee chairs, partners, the FDIC, and Governor's Office. IV Marketing Materials At its discretion, the Governor's Office may provide "Bank On" marketing materials ("Marketing Materials") to other parties to this Agreement. These Marketing Materials may not be modified by any recipient, and no individual or entity may use, display or reproduce any Marketing Materials without the express written consent of the Governor's Office. Violators will cease the use of the Marketing Materials immediately upon communication from the Governor's Office or its agents, and will be liable for damages and/or other remedies as may be available for misuse of such materials. V Termination copy Any party may terminate its own participation in this Memorandum of Understanding upon 30 days written notice. As the lead agency on this project, the Governor's Office may terminate the participation of any other party upon 30 days notice, if said party has breached this Memorandum of Understanding. A party whose participation has terminated shall promptly return all Marketing Materials in its possession to the Governor's Office. VI Independent Status In the performance of this Memorandum of Understanding, the parties shall act in an independent capacity and not as officers or employees or agents of each other. Acceptance of Memorandum of Understanding Terms The State of California Office of the Governor Cathleen Cox, Chief Deputy Director Office of Planning and Research Date The City of Santa Ana ATTEST: ~I,~ , MARIA D. HUIZ DAVID N. REAM Clerk of the Council City Manager 6• ,• ~,~ 1; APPROVED AS TO FORM: JOSEPH W. FLETCHER City Attorney , ~? By: ~~ Benj~m' Ka f an Chief sistant City Attorney Orange County United Way Susan Caumiant, Vice President, Community Investments & Marketing United Way of Orange County Date