INDIANAPOLIS – Twelve credit unions and banks have joined in an initiative aimed at signing up unbanked individuals to traditional banking accounts in a program sweeping across the country.
BankonIndy is aimed at helping 80,000 Marion County residents that don’t have a bank account by offering them no-cost and low-cost accounts and services.
The program, modeled after the ones started in San Francisco, Los Angeles, Sacramento, San Antonio, and elsewhere, will encourage people to write checks instead of buying money orders, build savings, and establish or rebuild credit.
The program will start October 9 at participating branches across Marion County. Before that it will offer free educational sessions at four locations.
The participating credit unions are: Eli Lilly FCU, Financial Center FCU, KEMBA CU and Clarian FCU.
