Payday of the Unbanked!

The city is gripped with fear. It's Friday. The crowds flock to the corner check-cashing place to be gouged of their hard-earned pay. It's the "Payday of the Unbanked!" But fear not; City-County Federal Credit Union has two programs to stop the scare.

The typical unbanked person is one who, for one reason or another, has had their checking account closed or has never opened an account. Perhaps they've made money mistakes in the past and don't believe they have a chance to be redeemed. Maybe they just don't trust their money management skills and are hesitant to take on the responsibilities associated with a checking account. These folks end up using check cashing services, which can be terribly expensive, often charging two to four percent of every check.

Whatever the reason for becoming unbanked, there is hope. People wishing to establish or re-establish a checking account should stop by one of the eight conveniently located neighborhood offices of City-County Federal Credit Union and ask about their Check Cashing Account, and the "Get Checking" program offered by their partner in financial fitness, Lutheran Social Services (LSS).

City-County Federal's Check Cashing account enables the "Unbanked" to cash their payroll checks without incurring an outrageous fee and at the same time work to repair their credit rating. Lutheran Social Services "Get Checking" is a six-hour class where participants learn to manage a checkbook register and understand banking products and consumer laws - those who successfully complete the LSS "Get Checking" program earn a certificate which is their ticket to an account at CCFCU (or any of 10 other participating credit unions and banks).

Save yourself or someone you know from living the high-cost life of the "Unbanked."

Call City-County Federal Credit Union at 763-549-6000 and ask for Member Services or contact Lutheran Social Services Financial Counseling Service at 1-888-577-2227.