Community Partners Are Key
Education is critical to helping people increase their knowledge about becoming financially stable. This initiative is designed to encourage individuals who are currently unbanked and underbanked to learn about safe and affordable mainstream financial products and services and to provide free access to financial education opportunities.
Unbanked or Underbanked
Thirty-five percent of people in our local communities are unbanked or underbanked. They rely on costly alternative financial services—like check cashers, payday lenders, and pawn shops—for routine financial transactions. They are less than half as likely to be able to save for emergencies or their futures.
Keep Your Money
According to studies by the Brookings Institute, a full-time worker without a checking account could potentially save an estimated $40,000 during their career, by avoiding high-fee check-cashing services and using a reliable, low-cost checking account instead.
Safer & More Efficient
A basic transaction account is an important first step in participating in the financial mainstream, depositing earnings securely, paying bills efficiently, accessing affordable credit, and saving money. It is also a far safer and more efficient way of managing money.