Bank On Music City seeks to offer financial stability to working poor
Bank On Music City — an initiative to help those Nashvillians with modest banking history establish conventional banking relationships — launched Tuesday with Mayor Karl Dean and officials with the Federal Reserve Bank, the United Way of Metropolitan Nashville and area banks gathering at the Sam Levy Homes in East Nashville.
The goal of the program is to help working families gain financial stability by building a credit history and gaining access to low-cost sources of credit. Through Bank On Music City (a partnership of local banks, credit unions, and government and community organizations), individuals who are not currently utilizing a financial institution can connect with mainstream financial services and customized products including affordable checking, savings and credit.
Charter members of Bank On Music City include Citizens Bank, Fifth Third, First Tennessee, Old Hickory Credit Union, Pinnacle Financial Partners, Regions, Reliant Bank, SunTrust Bank and the Tennessee Credit Union.