BRIDGE TO BETTER MONEY PROGRAM
The Bridge to Better Money Program links unbanked and underbanked residents in Tucson with credit unions and banks in their communities by providing a $50 incentive to open an account at the financial institution of their choice.
Program participants must be unbanked (not have a bank or credit union account) or have used check cashing services, payday loans or auto title loans in the past year.
How it works
Participants receive a $30 deposit into their newly established account at time of enrollment. This amount covers the minimum account balance required by most banks and credit unions. An additional $20 is deposited into the account three months later if the account is still active.
A participant who has already gone through the program or a staff person at the Southwest Center for Economic Integrity acts as “mentor” and helps program participants open an account and become active users of banks or credit unions and avoid high-cost financial services.
The Bridge to Better Money Program enrolled 110 people in banks and credit unions in Tucson during its first year. Click here to read a complete report for 2006-2007.
For more information on the Bridge to Better Money Program contact:
Johanna Barrero at 520-882-2165
Program documents to upload: (Note, you will need adobe acrobat reader to download these documents. If you don't have adobe reader you can download the software for free by clicking on the adobe link below)
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