Launched by Mayor Cicilline, the Bank of Providence is a comprehensive program seeking to connect the “unbanked,” those living without access to mainstream financial institutions, with affordable financial services. By the end of this year, the bank aims to offer over 2,000 individuals new accounts, access to home ownership counseling, financial counseling, financial planning classes, and programs that assist youth and families avoid high cost mortgages and predatory lending practices. Over 30 bank and credit unions are participating to provide more financial assistance to low-wage working Providence residents.
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