Program Launched to Help the 'Unbanked'

by Stephanie Crosby

A new program called “Bank On Louisville” launched today. It combines the services of a number of local banks, financial education services, and social organizations to help people who are unable to get banking services.

Estimates say about twenty-percent of Americans are unable to get basic checking accounts because of past banking mistakes.

Chuck Denny is with PNC Bank, one of the participating institutions.

“We’re going to solve that now,” says Denny. “It’s about reduced costs, increased access, second chances, fresh starts, all sorts of ways to describe this, but it’s going to be a wonderful benefit for our community that all the partners have had a hand in making this happen.”

Eleven banks in Louisville have signed on the program, with support from the Federal Reserve and FDIC.