Serving Monroe, Owen, and Greene Counties

Bank On Bloomington

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Did you know that having a bank account is a key step to financial independence? And did you know that nearly 22% of people in our community either don't have a bank account or use high-interest products like pay day loans, check cashing, and pawn shops. On average, these individuals spend $1,000/year on fees.  

     
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Bank On Bloomington
  

Bank On Bloomington is a community collaboration to help residents access mainstream financial services and education. You can get more information about qualifying accounts at these participating institutions:

 

Personal Finance Classes

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Bank on Bloomington is offering Personal Finance Classes for community members to strengthen their financial literacy. Classes will cover varying topics depending on the day. After the class, intructors will be available for one-on-one questions. Childcare is available if you confirm your attendance at least 24 hours in advance. Please RSVP below for classes you plan on attending.

For more information, contact Amy at amy@monroeuntiedway.org or 812-334-8370 X11

Class Dates and Topics

  • October 17: Financial Literacy Basics, RSVP>>

  • November 14: Credit and Getting Ready for a Big Purchase, RSVP>>

  • Decemebr 12: Retirement, Investment, and Long-Term Savings, RSVP>>

  • January 9: Financial Literacy Basics, RSVP>>

  • February 6: Credit and Getting Ready for a Big Purchase, RSVP>>

  • March 5: Retirment, Investment, and Long-Term Savings, RSVP>>

  • April 6: Financial Literacy Basics, RSVP>>

  • April 30: Credit and Getting Ready for a Big Purchase, RSVP>>

  • May 28: Retirment, Investment, and Long-Term Savings, RSVP>>

  • June 25: Financial Literacy Basics, RSVP>>

 

Having a bank or credit union account is important for many reasons:

  • It’s safe. Banks and credit unions keep your money safe from theft, fires, floods, and other natural disasters. Even if something happens to your bank or credit union, the federal government will make sure you get your money back (up to $250,000).
     
  • It’s convenient. Having an account helps you save time - you won't have to wait in long lines to cash checks and purchase money orders. You can direct deposit your paycheck, tax refund, and public assistance benefits. You can also pay your bills with your own checks or online.
     
  • It can save you money. Cash your checks and pay your bills without paying check-cashing fees or buying money orders.
     
  • It can help you build your financial future. Having a bank or credit union account may help you access other financial services in the future.  

Residents who have never had a bank account or have had difficulties in the past are finding that many usual barriers have been reduced or eliminated. These can include minimum balance requirements, past unpaid overdraft charges, or lack of a U.S. driver's license or state-issued identification.


Opening an Account

1) Find a participating bank that is convenient for you.

2) Ask about opening a Bank On Bloomington account. Our partner banks and credit unions have special products that are designed just for you.

3) Bring identification. You will need an Indiana ID or U.S. passport. Most banks and credit unions will also request a second form of ID. Since participating banks and credit unions have different policies, call them for specific requirements.

4) Learn how to manage your new account. Ask your bank or credit union about free classes and other opportunities to learn about account management, financial planning, and more. Check out the next section for financial education opportunities.

5) Visit these financial stability resources to help you on the path to financial success.

 

Financial Education Opportunities

Education workshops are an important component of the Bank On program. Workshops give Bank On clients and any interested individual the resources and supports to successfully manage their new account and improve their financial life. These workshops go over basic checking account maintenance, budgeting, and financial goal setting.

1) Online Financial Education Classes

2) Free Face to Face Financial Education Classes. Personal Finance Classes are now being offer by United way with support from Fifth Third Bank. Please see the section near the top of this page for more information. Free Face to Face financial education classes may also be requested. We will do our best to connect you with an instructor from one of our Bank On Bloomington Partners, but we cannot guarantee an instructor will be available. We need at least 4 weeks advanced notice in order to arrange a class. Click here to submit your request.

3) Download and Lead your own Financial Education Workshops. Click here to see a list of financial education curriculum to choose from.
 

Listen to the “Ins and Outs of Money” Podcast 

Each episode is about 5 minutes long and includes great advice about budgeting, saving, credit, investing, and more!  

Budgeting / Spending

Saving

Investing

Credit

Paying for College

 

Visit these additional financial stability resources to help you on the path to financial success.

 

Do you want to strengthen earnings in our community?

Please consider donating to the United Way Earnings Priority Fund. This fund helps hard working individuals and families get ahead by increasing their job skills and income potential, providing financial education, and building economic stability and independence.

Want to learn more about additional Earnings initiatives or the other building blocks for a good life -  Education and Essentials?

Related: 
  • Born Learning
  • Financial Stability Alliance
  • Monroe Smart Start
  • Familywize Discount Prescription Card
  • Bank On Bloomington