Predatory lending and check cashing practices exploit low- and moderate-income people by stripping almost millions of dollars annually from families and communities in Central Oregon alone. By some estimates, 32,000 Central Oregon households don't have bank accounts. Estimates suggest unbanked families spend approximately 5% of their annual incomes just to manage their basic finances. In addition, a bank account is the first step to financial security, and provides the necessary tools to climb the economic ladder. With no safe way to access and save money, unbanked Central Oregonians are particularly vulnerable in times of crisis or emergency, and lack the necessary tools to save and build assets.
