Solutions that Empower
Of course we offer the standard products and services you would expect from any full-service financial institution. But we also offer solutions to a market that has traditionally had to rely on higher-priced, alternative banking options in the past – such as payday lenders, check cashing facilities or nothing at all.
Why? Because we know these individuals are often victims of predatory lending and outrageous fees. Ironically, when this is the case, it does nothing more than perpetuate the downward financial spiral.
Instead, St. Louis Community developed several unique products to address the needs of those wanting to get back on track. These services include:
- The Freedom “Second Chance” Checking Account, giving individuals who have struggled with credit or account management problems in the past the opportunity to rejoin mainstream banking
- Our Freedom “Payday” Loan Alternative, which allows members to break the payday loan cycle with a low-cost, lower rate loan that can be paid in 90 days, instead of just one or two pay periods
- BALANCESM Financial Fitness Program, providing educational resources and personalized financial counseling service free of charge to all members
- Our Credit Check-Up service, a free credit report counseling service, offered to members directly from St. Louis Community
- The Credit Matters Loan, to help consumers start building good credit habits, or rebuild poor credit, while saving money at the same time.