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.  

Bank On Bloomington is a community collaboration to help residents access mainstream financial services and education.

Free Dollars & Sense Personal Finance Sessions

Our free virtual personal finance series is returning for 2022 through our Dollars & Sense series! This years' sessions will cover topics like home ownership, the psychology of budgeting, the secret to good credit, and pay yourself first, providing you with practical financial advice to set you up for future success.

Instructors from Apprisen, Regions, IU Credit Union, and PNC Bank will teach classes and answer participants' questions. To register for a class, fill out the RSVP forms linked below. After filling out the form, you will receive a link to the Zoom session.

Thursday, May 19: The Secret to Good Credit

Curious about the “The Secret to Good Credit”? Join the next monthly “Dollars & Sense” class on Thursday, May 19th,  5:30-6:30 PM, led by Kevin Osborne from IU Credit Union. Learn practical strategies for better managing your credit and why good credit is so important. As always, questions about other financial topics are welcome! RSVP to receive the Zoom link.

Thursday, June 16: Home Ownership

Dream about owning your own home? Join the next monthly “Dollars & Sense” class on Thursday, June 16th from 5:30-6:30 PM, led by Lisa Piercefield from Apprisen. Come learn about what it takes to become a homeowner, from determining your budget to qualifying for a mortgage and more. As always, questions about other financial topics are welcome! RSVP to receive the Zoom link.

Thursday, July 21: Financial Independence

Freedom from debt and financial worries? Sounds good to us! Join the next monthly “Dollars & Sense” class focused on Financial Independence on Thursday, July 21st from 5:30-6:30 PM, led by Angela Kidwell from Regions Bank. Come learn how to achieve greater financial independence and peace of mind. As always, questions about other financial topics are welcome! RSVP to receive the Zoom link.

Thursday, August 18: Secret to Good Credit

Let us let you in on a little secret…the secret to good credit! Join the next monthly “Dollars & Sense” class on Thursday August 18th from 5:30-6:30 PM, led by Kate Livingston from PNC Bank. At this "Secret to Good Credit" class you'll learn practical strategies for better managing your credit and why good credit is so important. As always, questions about other financial topics are welcome! RSVP to receive the Zoom link.

Thursday, September 15: Pay Yourself First

 

Dollars and Sense flyer

 

Previous Events

Ask the Experts panel

On Thursday, March 24th we kicked off the Bank on Bloomington Financial Literacy Series with an “Ask the Experts” panel discussion.

To kick off this year’s Bank on Bloomington series, a panel of local experts answered your questions about all things financial. Thanks to those who joined us and sent in questions to learn from local professionals about budgeting, credit and debt management, increasing your savings, and more.

Panelists included

  • Katie Thompson, Apprisen
  • Angela Kidwell, Regions Bank
  • Kate Livingston, PNC Bank
  • Kevin Osbourne, IU Credit Union.

View the event video by clicking on the link below.

Ask the Experts image

You can get more information about qualifying accounts at these participating institutions:

*indicates recognized as meeting Bank On National Account Standards 2021-2022

Bank On Image

 

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.

Would you like to organize a financial class for a club, group, or a workplace that you belong to? Free financial education classes may 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.

 


Image with logos of Bank On partners