Workforce System and Bank Partnerships: A “How-To” Guide

This online toolkit provides a blueprint to help your workforce development board establish stronger partnerships with banks. These partnerships can improve program participants’ employment and economic outcomes and benefit your community. The toolkit has three sections and includes a short description of the resources discussed in each section:

A federal law called the Community Reinvestment Act (CRA) encourages banks to support low- and moderate-income individuals in attaining financial stability and workforce success. The workforce development system prioritizes a similar demographic. As a result, the CRA presents an opportunity for collaboration. The following resources describe the CRA and outline the benefits of workforce system–bank partnerships.

4 Things About CRA That Workforce Boards Should Know

Discover how banks can support workforce systems through a variety of activities and learn how banks receive credit for supporting workforce priorities.»

CRA Partnership Frequently Asked Questions (FAQs)

Designed for workforce development boards and their staff members, community colleges, and others who provide workforce services, the FAQs provide answers to questions about workforce system–bank partnerships and highlights successful examples from the field.»

Workforce System and Banks: Common Characteristics

Learn how and where workforce system and bank goals overlap so that your board can build effective partnerships. »

4 Reasons to Have a Banker on Your Workforce Board

You may already have a banker on your workforce development board. If you do, you have a head start; if you do not, this resource explains how a banker’s expertise in economic development and background in personal financial practices can be beneficial to your board and advance your work. »

 

As you develop your strategy to partner with a bank, there are a few routes you can take to build an outreach approach. The resources below explain how to discuss workforce development activities and how to engage banks in a strategic planning process.

Self-Assessment for Workforce Leadership

This self-assessment tool will help workforce system leaders review their current activities and identify future opportunities for partnerships with banks.»

Engaging Local Partners

This guide helps you engage local community partners to first identify, then realize positive outcomes from a workforce-bank partnership. »

Community Resource Mapping

This tool will help you understand the types of existing services and activities through which banks can earn CRA credit and map them to the service gaps in your community. »

How to Approach a Bank in Partnership

This summary of best practices will help you think about how to approach and establish partnerships with local banks. »

How to Discuss Workforce and CRA With Banks

This short guide will help you craft a compelling and persuasive narrative for a workforce system–bank partnership, as some banks may be unfamiliar with workforce systems and not recognize the potential benefits of a partnership. »

Creating Your Story for Financial Institution Partnerships

This online workbook will help you refine the information you present to banks about your organization and partnering needs. »

Strategic Planning with Bank Partnership

As your workforce system begins to think purposefully about partnering with a bank to co-design and deliver financial services to low- and moderate-income populations, use this tool to establish and implement a strategic plan. »

Helping Banks Verify That Services Reach Low- and Moderate-Income Communities and Individuals

This resource helps banks verify that your programs benefit low- and moderate-income individuals and neighborhoods. »