Financial Access Brochures

According to a recent report issued by the Federal Reserve Bank of Chicago, 38% of the low/middle income population sample in Chicago did not report having a savings account and nearly 25% of this sample reported no savings vehicle whatsoever, formal or informal. The Appleseed Foundation reports that more than half of the estimated 43 million Hispanics in the United States do not have a bank account.

The Chicago Appleseed Fund for Justice has joined with the Appleseed Foundation and Appleseed affiliates in Nebraska and Texas to develop and distribute a series of full color brochures aimed at increasing awareness and access to financial institutions. The release of these brochures is the latest in a series of efforts undertaken by Chicago Appleseed to engage low and moderate income populations to utilize the American financial system -- and to avoid being exploited while doing so.

The series of nine brochures are available in both English and Spanish and cover topics such as: How to Open a Checking or Savings Account, Reduce Your Taxes, Credit, Debit and ATM Cards, Avoiding Dangerous Loans, Using Credit Cards, Home Ownership, Car Loans, Sending Money Back Home, and ID needed for an Account.

Comprehensive financial education provides valuable tools to ensure that individuals can make solid financial decisions to secure their future and the future of their families. The development and distribution of these brochures is an important step towards that goal.

Chicago Appleseed is distributing the brochures to local aldermanic offices and community organizations. Please contact Malcolm Rich at 312.988.6552 or malcolmrich@chicagoappleseed.org for more information and to order copies of the brochures.