Twenty years ago, we asked a simple but radical question: What if city government could put more money into the pockets of the people who need it most?
In answering that question, San Francisco became the first city in the nation to launch programs like the Working Families Credit, Bank On San Francisco, Kindergarten to College, and the Financial Justice Project. Together, these efforts reimagined how government could support financial stability—not punish hardship—for low-income communities. We leaned into the unique powers of the Treasurer’s Office and put them to work for San Franciscans at the hardest edges of our economy. By redesigning systems related to banking, debt, savings, and fines and fees, we showed how public institutions could remove barriers and expand opportunity. In doing so, San Francisco helped spark a national movement—shaping statewide and federal policy and influencing reforms across the country. Over time, this work has helped millions of people build savings, reduce debt, and gain access to a fairer financial system.
Helped people living in vehicles build savings and move toward stable housing through the RV Buyback program.
In partnership with the City Administrator’s Office, the Office of the Treasurer & Tax Collector created the SF Lends initiative to support and connect small businesses to affordable loans and lines of credit.
Advanced statewide financial justice in California: AB 1186, the REPAIR Act, ends youth restitution fines, waives uncollectable youth and adult restitution fine debt that is over 10 years old, and makes other meaningful changes to the youth restitution system.
Launched a new chapter of San Francisco Financial Counseling (formerly Smart Money Coaching) and celebrated a decade of providing free one-on-one financial guidance to San Franciscans.
Released new research findings showing the effectiveness of the Kindergarten to College (K2C) program on college access. Overall, K2C participants were 6% more likely to enroll in college than the comparison group.
The SFUSD Class of 2023 was the first graduating class that was part of the K2C program, marking a new milestone in City history.
- Worked with SFMTA to provide discounted boot and tow fees.
- Worked with Public Utilities Commission to eliminate water shut off and turn on fees.
Introduced legislation to become first in the nation to eliminate all locally charged criminal justice administrative fees.
Worked with SFMTA to introduce new low-income payment plan.
Launched the Fines and Fees Task Force.
Launched Smart Money Coaching (now SF Financial Counseling) to provide free, confidential, one-on-one financial guidance to anyone that lives, works, or receives services in San Francisco.
Summer Jobs Connect was launched to integrate access to financial services in workforce programs for youth ages 14 to 24.
Founded by Mayor Gavin Newsom (now Governor) and Treasurer José Cisneros, Kindergarten to College automatically opens a savings account seeded with $50 for every child entering kindergarten in SF’s public schools.
Bank On SF organized 14 banks and credit unions to offer access to affordable checking accounts.
Our inaugural initiative was establishing the Working Families Credit.