About Bank on Philadelphia

City Controller Alan Butkovitz

The Bank on Philadelphia program is a project of the City of Philadelphia, Office of the Controller. City Controller Alan Butkovitz is pleased to partner with dozens of local community and financial partners to help Philadelphian’s gain a better understanding of how money works in the world.

Our goal is to improve the financial health of our city. When Philadelphia residents know how to manage their finances responsibly, it saves everyone money and builds stronger communities by reducing bankruptcies, foreclosures and poverty levels.

The Problem

Young adults who display higher financial literacy are less likely to exhibit high-risk financial behavior.

Low levels of financial literacy are widespread in the U.S population, but the problem is particularly severe among certain demographic groups that makeup large portions of Philadelphia’s population – women (52.7%), those with low educational attainment (76.1% high school diploma or less), African‐Americans (44.1%) and Hispanics (13.6%).

(Source: U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Estimates)

The following are a few facts about youth financial literacy:

(Source: Junior Achievement Financial Literacy Statistics)

Why It Matters

The financial health of individuals in Philadelphia contributes to the city of Philadelphia’s financial health as a whole. When Philadelphia residents know how to manage their finances responsibly, it saves everyone money and builds stronger communities by reducing bankruptcies, foreclosures and poverty levels.

Access to Financial Services in Philadelphia

Our Opportunity

Bank on Philadelphia’s Financial Literacy Resource Center stands to leverage a wide array of community based organizations, banks, and credit unions to connect Philadelphians with the resources they need to educate themselves and their children about financial literacy. Our knowledge of how money works in the world. Being financially literate means having a basic understanding of financial terms, including:

To learn more about financial literacy, check out our Fact Sheet or download our Resource Guide.

Our Partners