Chicago's Labe Federal Bank for Savings is using a new check-cashing program to attract people who traditionally have relied on local currency exchanges.

"The goal is to win them over first as a savings customer and, when they build up some deposits, get them to buy a home in the area," said Frank Kross, president of the $105 million-asset thrift.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.