Over the last year a task force has worked on building a collaboration of banks, community members and leaders to put in front of the many un-banked individuals in our are region an alternative to the predatory "Check Cashing - Cash Advance" stores. This will put money (fees, charges, usury interest) back in the hands of who need it most. This will rebuild the credit worthiness of the unbanked and create an environment that will foster the home buyer of the future. I was happy to have been part of this foundational work as a representative of the business community in South Sacramento. Finally. A project that will benefit the south Sacramento Community.
Press Release:
SACRAMENTO – Tomorrow Mayor Kevin Johnson will hold his weekly press availability in conjunction with the launch of ‘Bank on Sacramento’, an initiative who’s goal is to help 6,000 unbanked Sacramento residents open checking or savings accounts in 2010. Sacramento is one of seven cities selected for Governor Arnold Schwarzenegger's ‘Bank on California’ initiative, a collaborative initiative that will give over 30,000
unbanked households in Sacramento access to mainstream financial products and services. The overall goal of ‘Bank on California’—the nation’s first statewide initiative of its kind—is to help 100,000 Californians without checking or savings accounts open starter accounts at banks and credit unions over the next two years.
Who: Mayor Kevin Johnson
Eloy Villafranca, Director, Bank on California
Eric Stanion, Sr. Vice President, Bank of America
Ben Webster, Chair of the Board of Directors, Community Services
Planning Council
When: Tuesday, January 26, 2010 11 a.m.
Location: Oak Park Community Center
3425 Martin Luther King, Jr.
Sacramento, CA 95817
Visual: Bank on Sacramento banners, balloons,
30-35 members of local community organizations and bank
representatives as background.
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