Guaranteed basic income (GBI) is a highly effective way to provide financial stability to families. More than 43% of Americans experience income volatility where annual pay fluctuates 25% or more. Cash gives people the tools to solve their own problems, whether it’s paying rent, fixing the car transmitter, or enrolling a child in an after-school activity. As the lead product provider in the country's first two county- and city-driven guaranteed income programs, we have learned that while the idea of guaranteed income has quickly gained traction, practical tools for implementation are harder to come by. That's why we provide a product that can be used beyond the GBI initiative to ensure people have access to an ongoing, safe and reliable no-fee account.
What we provide
no-fee prepaid debit card
CFR’s Visa Prepaid Debit Card that can be used as an on-going bank account.
CFR can provide the monthly ACH transaction to GBI recipients.
DE-identified card transaction data
We provide the transactional data to analyze how funds are being used.
Some of our GBI Partners
the county of Santa Clara
We're partnered with the County of Santa Clara to support the first-in-nation basic income project for young adults transitioning out of foster care. The project offers $1,000 a month and access to financial coaching to youth who will no longer be eligible for foster care assistance.
Stockton Economic Empowerment Demonstration
Stockton Economic Empowerment Demonstration (SEED), was the country’s first mayor-led guaranteed income demonstration. Launched in February 2019 by former Mayor Michael D. Tubbs, SEED gave 125 randomly selected residents $500/month for 24 months.
The Monarch Foundation aims to explore alleviating child poverty in New York City through GBI. The initial phase of the program will provide 100 new mothers in Northern Manhattan with unconditional and consistent cash support over the course of three years.