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Bank On Aurora

“Bank on Aurora” is the State Treasurer’s campaign to bring low-income families into the financial mainstream and is part of the statewide “Bank on Illinois” program. It connects qualified “unbanked” households with free and low-cost bank accounts.

About 5,300 unbanked households in Aurora rely on check-cashers, payday lenders and pawn shops to cash checks, pay bills and borrow money, often at a steep cost, according to the Pew Charitable Trusts’ Safe Banking Project. The average unbanked household in Illinois pays about $575 a year simply to cash payroll checks, according to Pew. Through “Bank on Aurora”, residents can save hundreds of dollars a year, putting them on the road to financial stability.

The City of Aurora, with support from Mayor Tom Weisner, manages the “Bank on Aurora” program. Local social service agencies provide client referrals and free financial literacy resources.

The “Bank on Aurora” program was officially kicked off at a recent news conference that featured State Treasurer’s Chief of Staff Robin Kelly, Mayor Weisner, Bettye DeRamus, director of Consumer Credit Counseling Service, a program of Family Counseling Service of Aurora, Libby Calderone, President and CEO of Aurora Earth Mover Credit Union, and Diamond Martin who recently signed up for a “Bank on Aurora” account.

More information on the program is available at www.bankonillinois.org.