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Kansas City, MO<\/strong> \u2014 The Kansas City region has achieved a groundbreaking milestone in financial inclusion, with the unbanked population dropping to an impressive 0.8%, according to the newly released 2023 FDIC National Survey of Unbanked and Underbanked Households. This marks the largest decrease among all metropolitan statistical areas (MSAs) and positions Kansas City as having the third-lowest unbanked rate in the United States.<\/p>\n This achievement is a testament to the tireless efforts of CHES, Inc. (Credit & Homeownership Empowerment Services, Inc.), through its initiative, BankOn KC, to empower underserved communities through accessible financial education, personalized coaching, and innovative solutions that remove barriers to financial inclusion.<\/p>\n \u201cWe are incredibly proud of what we\u2019ve accomplished in Kansas City,\u201d said Ron Farmer, Co-Founder of CHES, Inc. \u201cReducing the unbanked population from 6.4% to 0.8% is a testament to the power of strategic partnerships and innovative solutions. These efforts not only transform financial access but also strengthen the foundation of our community.\u201d<\/p>\n Transformative Community Efforts One of the most impactful advancements has been the use of mobile platforms to reach households without traditional internet access. This innovative approach has brought critical financial resources to the fingertips of individuals who might otherwise be excluded.<\/p>\n Kansas City: A National Model<\/strong> \u201cThis milestone is a reflection of what\u2019s possible when organizations and communities come together with a shared vision,\u201d Farmer added. \u201cBy partnering with BankOn, we\u2019ve created a replicable blueprint for success that we hope to bring to other cities nationwide.\u201d<\/p>\n
\nCHES, Inc., through its BankOn KC initiative, has led the charge to provide low- and moderate-income households with tools to access secure, reliable banking services. These efforts include:<\/p>\n\n
\nThe FDIC\u2019s latest survey highlights that 4.2% of U.S. households\u2014approximately 5.6 million\u2014remain unbanked, reflecting steady progress in financial inclusion nationwide. Kansas City\u2019s remarkable reduction to 0.8% sets a national standard for what can be achieved through targeted community initiatives and effective partnerships.<\/p>\n