Learn: Getting Banked

Why does being unbanked matter?

If you utilize check cashing services or high fee loans to pay your bills, you are not alone. A recent Federal Reserve study highlighted the number of American households who are underbanked or do not use a bank at all.

Federal Reserve Study: Banking

Fully Banked = uses safe, affordable and insured financial products

Underbanked = some access to safe and affordable financial products; supplemented with check cashing services and/or predatory loans

Unbanked = no access to safe and affordable banking products; pays fees to receive and spend own money

Neighbors can help you get banked with a FAIR checking, savings or credit building account. Click here to read a recent blog post regarding our partnership with Prepare + Prosper’s FAIR program.