Since 2003, TAP has encouraged clients, as they move towards financial self-sustainability, to start building a relationship with a retail bank by opening a checking and/or savings account. At our community sites, we currently have nine banking partners that offer their services to TAP clients:

In FY 2007-08, client families opened 590 bank accounts, over 200 of which were opened in order to direct deposit tax refunds. McKinsey & Company estimated that TAP’s clients save on average between $200 and $1,800 annually by avoiding fees charged by currency exchanges, quick loan outlets, and other fringe financial service providers.