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Bank on Evansville is the first of its kind program in Indiana to serve the "unbanked," those who live without access to mainstream financial institutions and are forced to rely on expensive check-cashing services. In August 2008, Mayor Jonathan Weinzapfel joined with local financial institutions, community organizations, the United Way of Southwestern Indiana and the Federal Reserve Bank of St. Louis, to announce development of a program that would:
  • change bank products and policies to increase the supply of starter account options for this market;
  • raise awareness among consumers about the benefits of account ownership;
  • provide qualified Evansville residents with the opportunity to open low-cost, starter bank accounts; and
  • provide quality financial education to Evansville residents, to help them start saving for the future.

Now, every resident in Evansville has the chance to open an account with the bank or credit union that works best for them, and to start saving for the future.