Marquette Bank Enrolls 100 Low-Income "Unbanked" Families In Englewood, Part of Monroe Foundation's Community Reinvestment Organizing Project

From: Mark S. Allen, Founder of The Black Leadership Development Institute, BLDI, Chairman of The Community Banking Coalition, and member of The Monroe Foundation's
Community Reinvestment Organizing Project

Marquette Bank Enrolls 100 Low-Income Families
 In "NEW START" Program for the Unbanked In Englewood

                    A Partnership With The Englewood Food Network

Marquette Bank, Englewood institutional partner of the Community Reinvestment
Organizing Project of the Monroe Foundation, has enrolled over 100
low-income and unbanked families in the Englewood community as
"account-holders", gaining access to mainstream financial services as an
alternative to currency exchange "banking" and check cashing services
through the account product called "New Start".

The product is designed to economically empower residents and families involved in the food distribution programs and services of the Englewood Network, a not-for-profit coalition of 32 food pantries
and soup kitchens organized by the Monroe Foundation in 2000, to access
the financial services mainstream through Marquette Bank.

As
a benefit, clients served by the Englewood Food Network system can have
their benefit checks direct deposited, participate in financial
education seminars on/off site, and become economically, socially, and
financially engaged in planning for their economic future through their
check books, and not a carbon copy of a money order!

In
the coming months, the Community Reinvestment Organizing Project, a
community reinvestment and public policy initiative of the Monroe
Foundation, will expand this effort with Marquette Bank into several
Chicago communities that include: Back of the Yards, New City, and
Brighton Park, areas where the banking institution has a branch "footprint".

Additionally, the Monroe Foundation will launch a similar initiative in the Western Suburban communities of Proviso Township, Maywood/Bellwood/Broadview/Westchester/Hillside, as part of a partnership with PNC Bank.

For
More Information of the Community Reinvestment Organizing Project and
the Monroe Foundation and partnerships to promote economic opportunities
that assist unbanked families, please contact:

Otis C. Monroe, III
CEO
(773) 315-9720

Leave a comment