REACHING OUT TO UNBANKED HENDERSON RESIDENTS
Unbanked Henderson residents are concerned about the cost of having a bank account and are worried they may be denied an account because they have made financial mistakes in the past. Others believe that without a Social Security card they are not eligible for an account. Some think they do not make enough money to have a bank account, or are intimidated by a traditional banking environment.
To directly address these concerns, participating banks and credit unions agreed to the following baseline criteria:
- Offer a low- or no-cost product with no minimum balance requirement. The high minimum balances and fees of many accounts is a key factor keeping people out of the financial mainstream.
- Adapt internal systems to allow customers with a poor banking history to open "second chance" checking accounts.
- Some Banks accept the Mexican Matricula and Guatemalan Consular identification cards as primary ID. For many immigrants, the barrier to opening an account is having the proper documentation.
- Expand marketing and outreach strategies in targeted, low-income neighborhoods, and increase the visibility of appropriate products in Henderson.
- Provide financial management training in the community and partner with local community-based organizations to transition customers ready to enter the financial mainstream.
Thanks to the hard work of our Financial Partners and our Community Partners, Bank on Henderson has already helped open a number of accounts since the program launched in May 2011. With your help, we can reach our goal of helping thousands of families get on the road to financial security.
For more information, or for help opening an account.
Simply Dial (270) 826-2107
Or visit our contact page ...
Our finanacial partners include eight banks with seventeen locations.