CFEF is proud to be a part of Bank on DC, a collaborative effort between the District Government’s Office of the Deputy Mayor for Planning and Economic Development, financial institutions, and non-profits, bringing together banks and credit unions to offer accounts with no minimum balance requirements, no monthly maintenance fees, and no overdraft charges.
Bank on DC also works with some of the District’s largest employers to offer Bank on DC products and financial education as an employee benefit. One of these successful partnerships is with VMT Long Term Care Management, Inc., a leader in home health and nurse’s aide education, placement, and management.
While educating hundreds of healthcare professionals each year and employing over 200 home health aides throughout District, VMT recognized a need for access to safe and affordable bank accounts for its students and staff. “VMT has offered direct deposit to our employees for many years now,” says Adam Chandler, Office Manager of VMT, “but we have not always had a lot of success with some of our employees who are unable to get a bank account.” With the help of Bank on DC, Chandler hopes to have “close to 100% of our employees enrolled in direct deposit.”
In addition to offering the Bank on DC account through enrollment drives and Human Resources processes, CFEF has worked with VMT to administer financial education for students and staff. Chandler believes that these efforts, combined with ready access to a Bank on DC account, strengthen VMT’s relationship with its students and staff. “At VMT,” he says, “we understand that our staff is as important as our customers. We hope that by partnering with Bank on DC we will take another step in showing our staff we want to go above and beyond for them as they do for our customers on a daily basis.”