Our Mission
The Pierce County Asset Building Coalition seeks to develop innovative, actionable solutions to help eliminate poverty through a combination of education, advocacy, objective discussion, and collaboration between community members, organization leaders, financial institutions, and policy-makers.
Bank On Pierce County is an initiative, based on a national model, within PCABC that seeks to connect everyone to safe and affordable financial products and services through strong program integrations.
Access to safer, affordable banking and financial services for residents of Pierce County who want those services and are most often excluded from mainstream financial resources contributes to a foundation for great self-directed financial empowerment, asset attainment, and financial growth.
Our Impact
The percentage of unbanked and underbanked households in Pierce County has fallen over the years.
| Pierce County | Washington State | United States | |
| Unbanked | 3% (5.4% in 2021) | 2% | 5% |
| Underbanked | 13% (17.8% in 2021) | 13% | 14% |
Data from: 2024 Prosperity Scorecard
People have better access to accounts.
- 9,278 certified Bank On accounts were opened in 2023
- 39,676 Bank On accounts were open in 2023
- 12 banks offer Bank On accounts in Pierce County
Data from: 2023 Bond HUB Data Tool
There is greater access to services and programs.
28 Individual Development Accounts (IDAs) supported since September 2024
- 79 % Black/African American
- 18% Hispanic/Latino
- 3% Multi-Racial
- $225,000 asset savings pledged
- $85,093 saved
- 5 fund matches fulfilled ($10,000 each)
Center for Strong Families programs served 1,238 clients in 2024
- 72 attended financial education and/or financial literacy classes
- 287 received assistance to repair credit or debt problems
- 90% received coaching services in 2 or 3 areas (Employment, Financial, Income Supports)
- 137 had a net income increase ($2,458 average yearly)
- 151 saw improved credit score
- $30,078 average increase in assets
- $22,680 average liabilities reduction
Data from: Center for Strong Families programs
Our History
2022 – PCABC and Bank On Pierce County officially launch a website including information on becoming a member and Finding an Account.
2022 – PCABC facilitates community partner networking for specific community service and population financial access and services needs of Pierce County residence through program integrations and collaborations including income tax assistance, minor and adult youth, and Gender-Based Violence (GBV) programs, and the establishment of the Financial Advisory Workgroup.
2021 – A Financial Advisory workgroup was formed in late Fall comprised of financial and banking institutions and community partners. Bank On Pierce County helps connect consumers to accessible and affordable banking products certified as meeting the Cities for Financial Empowerment Fund’s Bank On National Account Standards.
2021 – Bank On Pierce County launched. With assistance from the CFE Fund, Sound Outreach, and the Pierce County Asset Building Coalition members formed a Bank On workgroup in 2020 to identify strategies to increase collaborative efforts that could connect consumers to mainstream financial services and products.
Members represent community-based organizations, financial institutions and local government agencies that provide services and resources such as financial education, credit counseling, savings programs, banking series, credit repair, employment assistance, youth engagement and other financial empowerment programming.
2021 – To further the advancement of PCABC initiatives, and Executive Committee was formed comprised of two representative each from local government, financial sector, and community services. The Executive Committee members serve for two years and the current membership may be found here [Link to membership page].
2016 – Strategizing for a Bank On Pierce County began, in conversation with United Way of Pierce County.
2009 – PCABC, in participation with the WA Asset Building Coalition and other local asset building coalition in WA, advocated for, and assisted in the passing of, the Financial Literacy Public-Private Partnership Act of 2009. Later renamed the Financial Education Public-Private Partnership.
2008 – The Pierce County Asset Building Coalition (PCABC) was founded with oversight from community service agency Associated Ministries. Sound Outreach took oversight in 2015.
The National Bank On Movement
The nonprofit Cities for Financial Empowerment Fund (CFE Fund) is the national partner for local Bank On coalitions, supporting local efforts through resources like the Bank On National Account Standards and accompanying certification, grant support to build local coalition capacity, and a robust learning community. The CFE Fund also works to give voice to local coalition experiences by informing both federal regulatory policy and financial institution practices.