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Consumer Resource Center

Economic Inclusion

Last Updated: April 27, 2023

The FDIC promotes financial inclusion both by making research available, particularly How America Banks: Household Use of Banking and Financial Services, and by helping to build and strengthen positive connections between insured financial institutions and consumers, depositors, small businesses, and communities.

Access to safe, affordable, and sustainable insured transaction and savings accounts, along with quality financial education, improves consumers’ ability to safely save, build assets, and create wealth. Safe and affordable savings and credit solutions from insured depository institutions can improve household financial stability and resilience. Our work is guided by the Economic Inclusion Strategic Plan.

Economic Inclusion graph

Financial Education

Financial education is at the foundation of economic inclusion. Effective financial education helps people gain the skills and confidence necessary to sustain banking relationships, achieve financial goals, and improve financial well-being.

Through FDIC Money Smart, the FDIC offers free, non-copyrighted, and high-quality financial education resources for banks, people of all ages, and small businesses. Visit Money Smart for more information. We also provide a number of resources through our Consumer Resource Center and monthly FDIC Consumer News.

Insured Deposits

FDIC insurance protects depositors of insured banks located in the United States against the loss of their deposits, up to the insurance limit, if an insured bank fails. Affordable insured bank accounts provide the opportunity to conduct financial transactions and save for emergencies and long-term security needs, while developing a banking relationship that may provide a way to obtain credit.

Participation in the banking system also provides the protections of the regulated banking system. Many banks offer accounts with low fees, and no overdraft or non-sufficient funds (NSF) fees, such as Bank On certified accounts. These accounts and others may also provide additional no-fee services such as ATM and branch withdrawals. Find additional information on these low-fee bank accounts at FDIC #GetBanked.

Consumer Credit

Banks can help meet credit needs through a wide range of approaches, from promoting the importance of building a credit history and offering credit-builder loans or other tools, to collaborating with local communities on consumer education about credit. Banks may find that adding affordable, entry-level credit products or a credit-building product makes it easier to more effectively meet a community’s diverse needs.

The FDIC supports local efforts to bring additional populations into the financial mainstream through Alliance for Economic Inclusion and other broad-based coalitions of financial institutions. These local initiatives focus on expanding the reach of basic retail financial services, including savings accounts, remittance products, small dollar loan programs, targeted financial education programs, alternative delivery channels, and other asset-building programs.

Mortgage Credit

The FDIC Affordable Mortgage Lending Center provides mortgage resources and helps to compare a variety of current affordable mortgage programs. State, regional, and national program resources are also available.

By connecting banks and communities in new ways and increasing awareness and the use of affordable banking services, including affordable mortgage lending, the FDIC works to strengthen the banking system and communities across the country.

Small Business

Money Smart for Small Business (MSSB) was developed jointly with the U.S. Small Business Administration (SBA) and is a free training resource to help entrepreneurs become bankable. The FDIC has a long-standing practice of supporting small business development by serving as a trusted resource, facilitator, and connector.

By accessing safe and affordable insured bank accounts, financial education resources, affordable credit and loan options, consumers are on their way to financial stability.

Additional Resources

Youth Banking Network

Youth Employment Resource Center

Advisory Committee on Economic Inclusion (ComE-IN)