Bank On Carbondale is part of a state-wide program in Illinois to serve the "unbanked," those who live without access to mainstream financial institutions and are forced to rely on expensive check-cashing services. The City of Carbondale worked with local community organizations, banks, and credit unions to develop 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 Carbondale-area residents with the opportunity to open low-cost, starter bank accounts; and
- provide quality financial education to Carbondale-area residents, to help them start saving for the future.
Now, every Carbondale-area resident 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.
