Throughout Los Angeles, people just like you are proving you can start small and think big. Los Angeles Savers are setting financial goals, tracking their spending, and taking control of their financial future. These tips and tools can help you set goals, develop strategies to reach those goals, and start saving. So what are you waiting for?
The FDIC developed a new "Receiving Economic Impact Payment Page" for consumers to get the information they need to receive the Economic Impact Payment (AKA stimulus check) electronically. You can also learn more about it via YouTube video.
New City-County partnership connects Angelenos with resources to open a safe and affordable bank account
Wed, 04/29/2020 @ 03:00 PM
The CARES Act includes nearly $300 billion for direct payments to low- and moderate-income individuals to mitigate the economic impact of the COVID-19 pandemic. But if Angelenos don't have a bank account, they can't get a direct deposit of the money they're entitled to, which means it will take too long to receive their payments.
That’s why Mayor Garcetti announced a partnership with L.A. County’s Department of Consumer and Business Affairs and its Bank On Los Angeles County initiative led by the Center for Financial Empowerment to make it easy to open a bank account.
Angelenos can open an affordable bank or credit union account online now to claim their Economic Impact Payment faster. You can learn more about opening a Bank On account here.
For those having difficulty opening an account or cashing your checks, you can find a list of partners here who will cash your stimulus payments at no cost. Bank of America, Chase, Wells Fargo, and Union Bank are the first to announce that they’ll waive the cashing fee for non-account holders.
Savings Strategies:
Building wealth starts when you set a goal and make a plan to reach that goal. Whatever goal you choose – whether it’s buying a car, buying a house, or getting out from under your debts – learn about proven savings strategies and get simple tips on the best ways to save. Click on the links below to learn how to:
2020 Los Angeles Saves Partners
- Asian Pacific Community Fund
- Broadway Federal Bank
- Building Skills Partnership
- California Department of Business Oversight
- Cathay Bank
- Central City Neighborhood Partners
- Chinatown Service Center
- CTBC Bank
- Federal Deposit Insurance Corporation
- First Choice Bank
- First Foundation Bank
- Haven Neighborhood Services
- Junior Achievement of Southern California
- Los Angeles Alliance for Economic Inclusion
- Los Angeles Department of Consumer and Business Affairs
- Los Angeles Public Library
- Pacific City Bank
- Pacific Western Bank
- Preferred Bank
- Pure Hearts R US
- Royal Business Bank
- State Bank of India (California)
- Union Bank
