ABA Banking Journal - May 2012 - (Page 16)

ABA Community BAnking | UNdeRseRved mARKets How to reach the unbanked Alabama bank serves untapped market by partnering with a nonprofit and creatively using technology and ABA’s prepaid debit card By steve COCheO, exeCUtIve edItOR s the nation moved into the financial crisis and its aftermath, Bob Jones began to see that much of what happened might have been avoided, or at least softened, if more Americans truly understood the financial commitments they take on. This made Jones, president and CEO of United Bank, Atmore, Ala., a believer in financial literacy. Along the way, Jones began to realize that meeting the needs of the unbanked was an intertwined challenge. What has troubled him is the industry finding ways to get these jobs done. But Jones’ ongoing search has been paying off. He and his team have come up with a combination of products—including ABA’s prepaid debit card—and approaches— a “bankerless” branch—that have started to bridge the gap between the bank and the unbanked. Getting over habits and customs United Bank has been identified by FDIC as a leader in outreach. In 2011, United received the Chairman’s Award for Excellence, specifically for a “second-chance checking” program that has enabled many credit-challenged people to A Laptop branch. United Bank’s branch in the headquarters of the nonprofit HERO organization (above) uses a webcam link to make a personal connection with a physical branch. HERO employee RaMell Ross “visits” the bank’s branch, chatting with staff. 16 | ABA BANKING JOURNAL | May 2012

Table of Contents for the Digital Edition of ABA Banking Journal - May 2012

ABA Banking Journal - May 2012
Contents
Chairman's View
Editor's Column
The Economy
Bank Notes
Picture This
ABA Community Banking
Pass the Aspirin
Tech Topics
ABA Resources
Compliance Inbox
First Person

ABA Banking Journal - May 2012

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