United Way of the Mid-South and other nonprofits are working in cooperation with government and our local banking sector to help citizens without banking accounts through Bank On Memphis. This public-private collaboration encourages Mid-South residents to get a bank account if they don’t already have one.
Last week, Bank On Memphis announced its new app which can help connect citizens to banking experiences and bank accounts from mobile devices. Bank On Memphis can help many Memphians open free or low-cost checking accounts, keep an account open with little or no balance, and even open an account if earlier bank account problems are in one’s personal history.
Having a bank account is a very important step in becoming more financially stable. For a community such as Memphis which struggles with high poverty rates, having more people able to successfully manage banking accounts is critical.
To see stories about Bank on Memphis’ app announcement, click here.
The new app is downloadable on the Bank On Memphis website. To learn more about Bank On Memphis and the new app, please visit www.bankonmemphis.org