East Side Review: Banking through local nonprofits seeks to make it more ‘FAIR’

“Equity in financial access — being able to build credit and save money — can be more difficult to come by than some may realize. Bad credit or predatory financial institutions can make it difficult to break into the financial mainstream.

To close the gap in financial access, Prepare + Prosper, a Twin Cities nonprofit focusing on financial wellness, worked with community leaders to create a series of banking products that give people the chance to build credit and savings. The end result is a program called FAIR — financial access in reach.

The project was piloted through Sunrise Banks in 2018 and is now available through four nonprofit partners: Lutheran Social Services Minnesota-Eastside Financial Center, Build Wealth MN, Community Action Partnership of Ramsey and Washington Counties, and EMERGE Community Development.”

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