Chesterton Tribune

 

 

NICTD joining effort to help unbanked obtain bank accounts and debit cards

Back To Front Page

 

The Northern Indiana Commuter Transportation District and Bank On Northwest Indiana are announcing a new partnership--effective Monday, Sept. 14--to help the South Shore commuter line’s unbanked and underbanked passengers take advantage of NICTD’s mobile app and ticket vending machines.

In the longer term, the partnership may also help area residents in achieving financial stability and independence as they gain access to essential banking services and financial education.

“An electronic bank account, coupled with a debit and credit card, allows our riders to take advantage of our mobile ticketing app and ticket vending machines,” NICTD General Manager Michael Noland said. “We are eager to work with Bank On NWI and the increasing number of financial institutions in our service area offering Bank On products. With the assistance of Bank On, everyone in our community can enjoy financial freedom and cost savings.”

“I am excited to be a part of this innovative partnership from its inception, and look forward to doing our part to ensure its success,” Indiana State Treasurer Kelly Mitchell said.

Across the nation, more than 9 million American households have no bank or credit union account--typically the foundation of saving and planning for a successful financial future--while in Northwest Indiana more than 56,000 people have no bank account or use alternative high-interest non-bank resources, according to a statement jointly issued by NICTD and Bank On. “On average, these individuals end up spending $1,000 a year on fees.”

“As a community bank, Peoples Bank has always looked for opportunities and strategies to drive community development,” said Ben Bochnowski, president and CEO, Peoples Bank. “Bank On NWI will assist Peoples Bank in our long-standing commitment to reach out to the underserved and unbanked, helping the residents of Northwest Indiana secure a strong financial future for their families and our neighborhoods.”

Michael Schrage, president and CEO, Centier, added, “Centier has an ongoing commitment to both community involvement and financial wellness. We are excited to partner with South Shore through the Bank On effort, and pleased to see more financial institutions and organizations jump on board with us as we work to make debit and credit cards a reality for everyone.”

Bank On NWI, launched initially with the FDIC in 2008, is a community collaboration made up of local financial institutions and community based organizations, the statement said. “The focus is a common goal of securing a financial future for everyone. Many traditional barriers to opening accounts are reduced or eliminated with Bank On NWI. These accounts help residents build their savings, avoid high check-cashing or money order fees, build or rebuild their credit, and protect their money from theft or natural disasters. Furthermore, Bank On NWI provides educational workshops on such topics as budgeting, basic checking account maintenance and financial goal setting. These workshops provide additional support and resources for future success.”

Currently, residents can access financial services and education with eight participating partners: Centier Bank, First Financial Bank, First Midwest Bank, 1st Savings Bank of Hegewisch, Peoples Bank, Regional Federal Credit Union, First Merchants Bank, and Woodforest National Bank. Joining these financial institutions in their mission to help families obtain financial stability are Lake Area United Way, Northwest Indiana Community Action, 2-1-1, and many other community organizations.

To learn how to open a bank or credit union account through Bank On NWI, visit www.bankonnwi.net or call (toll free) 2-1-1.

Bank On NWI representatives are available to speak to your organization, service club, church group or other association. To schedule a Bank On presentation, call Leona Lluzzo of Northwest Indiana Action at (219) 794-1829 ext. 2432 or email lluzzo@nwi-ca.org

Or call Angie Williams of the Lake Area United Way at (219) 923-2302 ext. 303 or email awilliams@lauw.org

 

 

 

 

Posted 9/15/2015

 
 
 
 

 

 

Search This Site:

Custom Search