In 2006, for example, a public, private, and nonprofit partnership was formed to influence 100,000 of the estimatesmated50, 000 unbanked households in San Francisco to open a bank account. Estimates were that the average unbanked household was pending5% of its income per year on check cashing alone, reling on check casshers, pawnshops, payday lenders, and other fringe financial services charging high fees and interest rates .