A new national grant is set to expand access to safe and affordable banking for residents across Salt Lake City and surrounding communities.
NeighborWorks Salt Lake announced April 20 that it has been awarded funding from the Cities for Financial Empowerment (CFE) Fund, with support from the Wells Fargo Foundation, to strengthen its local “Bank On” initiative. The effort aims to connect residents — particularly those without traditional bank accounts — to reliable financial services.
Collyn Mosquito will serve as Salt Lake’s Bank On Fellow for the next two years, helping to scale up local access to banking. Photo submitted.
As part of the award, Collyn Mosquito will serve a two-year term as Salt Lake’s Bank On Fellow, helping lead efforts to scale up access to banking. His work will focus on building partnerships and integrating banking opportunities into existing programs, such as public benefits and tax services.
“Many neighbors come to us with little to no access to banking products,” said NeighborWorks Salt Lake CEO Bryce Garner in a statement. “Housing Bank On Salt Lake allows us to work seamlessly with coalition members to bridge that gap.”
Bank On Salt Lake is one of five coalitions nationwide selected for this latest round of fellows. The initiative is part of a broader national movement to ensure all households have access to safe, low-cost financial accounts. According to the CFE Fund, millions of Americans still operate outside the traditional banking system, limiting their ability to save money and build financial stability.
Mosquito brings experience in coalition-building and expanding access for underserved communities. In his role, he will focus on growing membership in the local coalition and strengthening collaboration between financial institutions, community organizations, and government agencies.
“Being the bridge between the community and accessible banking requires listening to the challenges of both sectors,” Mosquito said. “They truly need one another.”
Since its launch in 2017, the national Bank On Fellows program has worked to develop local leaders who can move beyond financial education and create systemic change — embedding banking access into everyday systems and services.
NeighborWorks Salt Lake, a nonprofit founded in 1977, leads the local coalition as part of its broader mission to promote affordable housing, economic development, and financial stability.
Nationally, the Bank On movement has grown rapidly. More than 14 million certified accounts are now open, with millions added in the past year alone. Advocates say efforts like the new fellowship will help reach even more households and continue reducing the number of unbanked Americans.
Local leaders say the expanded work in Salt Lake could play a key role in building long-term financial security for residents across the region.