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United Way
Indiana 211

Bank On Kokomo Launches Website

Bank On Kokomo Launches Website

09/18/2014

September 18, 2014
Bank On Kokomo Launches Website


Contact: Beth Rattray, 457-6691

FOR IMMEDIATE RELEASE:

Kokomo, IN, September 12, 2014/Press Release/ -- United Way of Howard County launches a new website, bankonkokomo.org to accompany the Bank On program. 

Bank On Kokomo helps people with troubled bank history, new to banking or those that need access to financial education. Launch date is September 18 and will premiere at the Business Showcase Expo at Ivy Tech Event Center from 3:30-6:30pm.

United Way of Howard County along with the Financial Stability Alliance, made up of financial institutions, community organizations and government agencies, launched Bank On Kokomo in January of 2011.

"An unbanked household can pay up to $800 a year in service fees. Having a bank account helps people avoid high cost check-cashing fees and save for the future. We are helping hard-working families keep their money and learn how to make it work for them," said Pam Goodman, Financial Stability Coordinator United Way of Howard County.

Bank On Kokomo is a program that gives unbanked or under-banked households access to mainstream financial products and services, including low-cost or no cost checking and savings accounts and access to free financial education opportunities.

Bank On Kokomo encourages people to write checks instead of buying money orders, avoid check-cashing fees, build savings, establish or rebuild credit, protect their money from theft and natural disasters and monitor their spending. Making dollars stretch and eventually be able to save for a rainy day is actually empowering. We want to provide a means to let Kokomo residents keep more of their hard-earned dollars.

Helping people become bankers will help them learn how to live on a budget and keep track of where their money is being spent. Many are uninformed about banks or have had a bad experience before. Some don't trust banks. Others have failed at getting an account. This is a second chance.

Nine financial institutions in Kokomo have joined our efforts to allow Howard County residents to open free or low-cost bank accounts. Here are the list of partners:

BMO Harris Bank

Community First Bank

First Bank of Berne

First Farmers Bank & Trust

Haynes Community Federal Credit Union

Key Bank

PNC Bank

Regions Bank

Solidarity Community Federal Credit Union

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