MICHIGAN CITY – The Northern Indiana Bank On Alliance and Centier Bank have partnered to provide access to financial education and no- to low-cost banking services geared to help the working poor, the population known as ALICE.
ALICE stands for Asset Limited, Income Constrained, Employed and is the term used by United Way to describe cash-strapped households that earn more than the Federal Poverty Level, but not enough to cover all their expenses. According to the United Way of Porter County, these households have to make tough choices to survive, such as deciding between quality childcare or paying the rent, filling a needed prescription or fixing the car.
The Northern Indiana Bank On Alliance network, spearheaded by United Way, connects families to free financial education workshops, no- to low-cost banking services, tax preparation services, emergency support services and more, the United Way said in a release.
“These households struggle to provide for their most basic needs,” said Kim Olesker, president & CEO of United Way of Porter County. “The financial stability services provided through the Alliance help families rise above the struggles to improve their financial situation. We could not accomplish this work without the help of great supporters like Centier Bank.”
The Alliance serves Elkhart, Lake, La Porte, Porter and St. Joseph counties. In the five-county region, approximately 24 percent (108,942) of households are ALICE.
“For over a decade, Centier has been intimately involved in this important work,” said Dian Reyome, community relations & financial capabilities officer at Centier Bank. “The success of a community is directly related to the education, health and financial stability of its residents. We want residents to know we’re here to help them succeed.”
According to the United Way of Porter County, For more than 20 years, Reyome has been a powerhouse for financial literacy and access to banking services for ALICE families. Most recently, she served on the Northern Indiana Bank On Alliance Steering Committee. Reymone is retiring, but her successor, Lauren Zurbriggen, will continue Centier Bank’s work with the Alliance.
The Alliance is supported by Centier Bank and the Cities for Financial Empowerment Fund. To learn more about Alliance services and how to support the effort, visit NIBOA.org.