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My Money Place, a partnership between The Bon Secours of Maryland Foundation and Security Plus Federal Credit Union has recently enrolled their landmark 700th member.
My Money Place was developed as a way to bring mainstream financial services to the several communities in Baltimore––areas that had previously abandoned by banks. To meet the financial services needs of the community the foundation set up a financial “one-stop-shop,” which includes a traditional check casher, a no-cash branch of the Security Plus Credit Union, and a “financial recruiter” employed by the foundation. By offering the financial services desperately needed in an underserved community, the partnership has resulted in the inclusion of hundreds of formerly unbanked people now able to cash checks, set up savings accounts and built assets.
Foundation staff has also reported that several members, as a result of their good standing in the credit union, have cleaned up their credit and have been successful at accessing products and services at banks that previously could not accept them.
The Bon Secours of Maryland Foundation, a division of the Bon Secours Health System, seeks to further the mission of the Sisters of Bon Secours through housing and community development initiatives. Security Plus Federal Credit Union, formerly SSA Baltimore Federal Credit Union, serves a field of membership encompasses the Baltimore area offices of the Social Security Administration, the Centers for Medicare and Medicaid Services, more than 100 local companies and organizations.
For more information, contact Marva Williams. |
