Save Money! Bank on it! Press conference @ DotWell! Oct. 20

The Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation (OCABR) and Division of Banks (DOB) were joined by many of the state’s leading community and financial organizations in announcing a new campaign highlighting low-cost banking services. The Massachusetts Bankers’ Association, the Massachusetts Credit Union League, Greater Boston Interfaith Organization, Massachusetts Community & Banking Council, Dotwell Civic Health Initiative and the Midas Collaborative met onWednesday, October 20, 2010, at 11 a.m. to launch the “Save Money! Bank on It” campaign designed to encourage families to consider low-cost banking products.

During the event at DotWell, a Dorchester community-based organization that is a collaborative effort between the Codman Square Health Center and Dorchester House Multi-Service Center, participants discussed the benefits to having a bank or credit-union account, and launched the new “Save Money! Bank on It” campaign encouraging consumers who do not have bank accounts to sign up for one.

Banking and community groups across Massachusetts are working together on this effort. Having a bank account can save families hundreds of dollars a year in fees, compared to the costs of using check-cashing services. Also, maintaining a bank account can help a family create a stronger long-term relationship with an institution that can lead to a variety of stronger financial services – like auto loans or mortgages – in the long run.

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Bank on It invitation.pdf157.71 KB
Save Money! Bank on It press release 10.20.10.doc469 KB