For institutions

What Banks Should Know About Underbanked Consumers

Underbanked consumers are not disengaged — they are managing timing, fees and risk. Institutions that support readiness before the account opens build deeper, longer relationships than acquisition campaigns alone.

By Nesha Brown, Executive Director, Mint To Prosper Foundation · Published September 16, 2026 · 7 min read

Financial inclusion programs are frequently measured by accounts opened. It is a clean metric and a poor proxy. An account opened by a household with no cushion, irregular income and a history of overdraft is at high risk of going dormant or negative — which serves neither the customer nor the institution.

What is actually happening on the customer side

Timing beats cost. A fee is often accepted in exchange for money available today.
Overdraft history shapes behavior long after the balance is settled.
Low balances make many mainstream accounts feel risky rather than useful.
Trust is built from prior experience, and rebuilt slowly.

Readiness before the product

A consumer who has built a savings habit and a small cushion before opening an account arrives as a different customer: more likely to fund the account, maintain a balance, avoid negative events and stay. PurposeMint supports that period — the months before and after the relationship begins — using the accounts the consumer already has.

The economics we are proposing

PurposeMint's proposed model is $200 per funded customer, compared with an approximately $300 customer acquisition benchmark shared with us during institutional discovery. This is PurposeMint's proposed commercial model and a partner-provided benchmark — not an industry-wide or universal acquisition cost.

What partners can see

Engagement and savings-behavior indicators across a sponsored population.
Readiness progression across safety, stability, readiness and mobility.
Pathway interest, showing what customers are preparing for next.
Appropriate aggregated reporting rather than individual financial data.

On community development and CRA

PurposeMint is designed to support financial wellness and community-development initiatives that may align with an institution's CRA strategy. Any CRA treatment depends on the activity, geography, institution and applicable regulatory requirements. PurposeMint does not determine or guarantee CRA credit.

Where this comes from

PurposeMint's model is informed by the Conqueror Community Savings Program: more than 90 households in community savings cohorts, over $10,000 in new participant savings, and roughly 69% of participants starting with no savings at all.

We work with banks, credit unions and CDFIs who want to reach households earlier.

Sources and further reading

FDIC National Survey of Unbanked and Underbanked Households

About the author

Nesha Brown is the Executive Director of Mint To Prosper Foundation and Founder of the Conqueror Community Savings Program. A social entrepreneur whose mission is rooted in her lived experience of homelessness and financial exclusion, Nesha has helped over 500 families gain access to traditional financial products. She is committed to empowering individuals and communities to overcome financial challenges and build lasting stability.

This article is financial education, not financial, legal or tax advice. PurposeMint is not a bank, lender, credit repair company or financial adviser, and does not hold customer funds. Your situation is specific to you — consider speaking with a qualified professional before making a financial decision.