Bank on Greater Pittsburgh
The Urban League has spearheaded the Bank On Greater Pittsburgh initiative to encourage citizens to climb the economic ladder with banks for a stable financial future. Bank on Greater Pittsburgh, slated for release in 2014, develops pathways for residents to access basic, low-cost financial services and financial education. This initiative involves partnerships among local government officials, financial institutions and community-based organizations to educate Pittsburgh residents. The “Bank On” program negotiates with banks and credit unions in local communities to assist low-income unbanked and under banked people with free or low-cost starter or “second chance” bank accounts.
Why are bank accounts important?
Utilizing traditional financial products and services can be the first steps in saving, building credit and planning for a stable financial future. Unbanked and under banked individuals often rely on a cash-based system, missing out on the stabilizing benefits a checking account provides, such as:
- Cost savings
- Public safety
- Disaster preparedness
- Asset building
Why Bank On Greater Pittsburgh?
In the City of Pittsburgh, nearly 10% of families do not have bank accounts. With education, opportunities and support, unbanked families can become more self-sufficient and do not have to rely on costly alternative financial services.
For more information, call (412) 227-4210.