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BankOn was released in 2013 by the Coalition For Economic Opportunity (CEO) to be able to assist Charlottesville residents avoid predatory financing and provide low-value interest loans to those that qualify. It’s estimated that, in the populous City of Charlottesville, that 8.5% of most households are unbanked and 19.1% of most households are under-banked. The Charlottesville Metro Area, which include the town of Charlottesville plus the counties of Albemarle, Charlottesville, Fluvanna, Greene, and Nelson, has an approximated 3,594 unbanked households and 12,694 under-banked households.
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