Wichita Coalition Helps Create Safe and Affordable Banking Options
WICHITA, Kan. (KWCH) – Community leaders in Wichita are working to provide safe and affordable banking options to people who normally cannot use a bank.
Bank On ICT, an initiative of United Way of the Plains, brings together local financial institutions, government leaders and non-profit organizations to help the unbanked or underbanked community.
“About 6.6% of Wichita households rely on expensive alternative services — like check cashers, payday lenders, and pawnbrokers — for routine financial transactions. They are half as likely to save for emergencies as those with traditional financial accounts and may spend over $40,000 in fees to access their money over their lifetime,” said Michelle Presnell, who leads Bank On ICT and is responsible for community impact for financial stability. , at Centraide of the Plains.
Bank of America, Commerce Bank and INTRUST Bank all offer special accounts through the program, including checking accounts with no overdraft fees and little to no minimum balance requirements.
Community partners who provide information and help connect their constituents to Bank On ICT services include Consumer Credit Counseling Services, Inc., Dear Neighbor Ministries, Empower, Goodwill Industries of Kansas, Habitat for Humanity, Lead for Kansas, Meritrust Credit Union, StepStone, Workforce Alliance of South Central Kansas and YMCA.
Those interested in the program can find more information at unitedwayplains.org/bankonict. Bank On ICT representatives will also be available to answer questions at two upcoming Information and Resource Fair events at the following City of Wichita Neighborhood Resource Centers:
- Saturday, Oct. 1: 1 p.m. to 4 p.m., District 1 Atwater (2755 E 19th St)
- Saturday, October 8: 12 p.m. to 2 p.m., District 3 Colvin (2820 S. Roosevelt)
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