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Low Cost Banking Available To Less Fortunate - abc27 WHTM

Low Cost Banking Available To Less Fortunate

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Roanoke, VA - The City of Roanoke once again teamed up with neighboring communities and business leaders to host their annual Career, Lifestyle and Financial Fitness Fair.

It all kept the Special Events Center at the Roanoke Civic Center busy much of the day.

The fair was also the backdrop for a new United Way initiative that has recruited local banks to pledge free and low-cost banking services to our region's poor as a way to fight poverty.

"We did some research and found that a lot of folks have no bank account or are under banked. And what that means is that they have to go pay excessive fees at other services. So our credit unions and banks got together and said, 'How can we help people get into a low cost, or a no cost, account so they don't have to pay those excessive fees," said United Way of the Roanoke Valley President, Frank Rogan.

In all the nearly one dozen financial institutions promised to start 1,000 new accounts and offer more than 200 hours of free financial education to the Roanoke Valley's less fortunate.

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