SAN FRANCISCO -- More than a dozen local credit unions and banks are asking the thousands of unbanked residents of this Bay City to Bank on San Francisco.
Modeled after Manhattan's "Bank on New York" program, the local depositories are working with the city's Treasurer and the Federal Reserve of San Francisco to develop and market a variety of programs aimed at signing up the city's estimated 50,000 unbanked residents to deposit accounts and to create special services for them.
"This is a new area for this office. Getting into areas like financial justice h