Beginning this Thursday, Regional Unbanked Task-Force will jump start Bank-On Save- Up, a movement which is lobbying to help families in need gain financial security and independence.
According to a recent study by the Federal Deposit Insurance Corporation, Saint Louis was ranked third in the country for the highest number of unbanked African Americans and 10% of the households in the metro area have never occupied a bank account. As a result, the primary goal of this Task-Force is to create financially literate communities. To do so Bank-On Save-Up wants to establish 20,000 bank accounts over the next two years for current household that don’t have one as well as maintain at least 80% of those newly created accounts and at best have those accounts upgraded.
PNC, Montgomery, and Fifth Third are just some of the eighteen financial institutions that have agreed to participate in this effort.
Fiscal education and opportunities will be readily available to those interested in learning. St. Louis Community College’s William J. Harrison Education Center is the location for this upcoming launch. Later that evening families may gather and sign up for an account on site.
If you have any questions or are looking to take advantage of these opportunities, please call 1-888-STLUNBANKED or visit online at the following: www.stlunbanked.org