Central Bank of Kansas City, based here in Historic Northeast, is striving to help the regular people in the community.
One way the bank does this is through helping its customers build financial literacy. Once a month, the bank offers its Get Money Smart Class, taught by Jana Castanon from Consumer Credit Counseling Services, through which people with overdraft fees from Central Bank can get half of those fees waived, up to $100.
“A lot of these overdraft customers are used to being treated poorly,” Central Bank Marketing Director Sarah Cousineau said. “Anybody can make a mistake and get into overdraft fees.”
Through these classes, customers learn about developing budgets, saving money, keeping track of account balances, building credit and more. Central Bank also provides people with information about other community resources out there, such as Angel Food Ministries, the Habitat for Humanity ReStore and United Way’s 2-1-1 hotline.
The next Get Money Smart Class will be from 5:30-7:30 p.m. Monday, Aug. 23, at the bank’s main branch, 2301 Independence Blvd. The bank also takes the class on the road, such as to the Don Bosco Centers, Newhouse women’s shelter and into schools.
Additionally, the bank strives to make the community better through its involvement in Money Smart Week. As a gold star sponsor, Central Bank works alongside competing banks and the Federal Reserve of Kansas City every April to put together a week packed with free events.
“The goal is to help people better manage their personal finances,” Cousineau said.
Free classes during Money Smart Week cover diverse topics, from fundamentals of money management, to dealing with identity theft, borrowing home loans, utilizing Urban Renewal Areas, understanding credit card laws, surviving job loss, saving for college and more.
Another program the bank offers is a computer loan program. Through this program, Central Bank helps low-income people purchase a new desktop computer or a new or refurbished laptop computer. The bank provides a loan with zero interest and no fees. The only requirements are a $100 down payment, that the lender has a savings account with the bank, and that those who utilize the computer loan program attend one of the Get Money Smart classes.
“This is a small loan most banks aren’t doing,” Cousineau said, “and zero percent interest — nobody’s doing that.”
Central Bank also gets involved in the community in other ways, such as by supporting and participating in events like the Bike Rodeo, Chalk Walk, Historic Northeast Cultural Arts traveling art show and various festivals. Cousineau said she could not count the number of events the bank has participated in this year so far. Events coming up in the coming months include the Westside Back to School Pep Rally from 4-6 p.m. Thursday, Aug. 12, at 2017 West Pennway, and the Fiesta Hispana, which will be the weekend of Sept. 11-12 at Barney Allis Plaza, 12th and Wyandotte streets.
In addition, the bank has worked to reach out to the growing Hispanic community. It partners with Mattie Rhodes Center, Guadalupe Center, the Hispanic Chamber and the Hispanic Economic Development Corporation. In cooperation with the latter, the bank sponsors two business workshops a year (including one coming up this fall in Northeast) and a Micro Business of the Year Award. The main branch on Independence Boulevard has nine Spanish-speaking employees, and there are three additional bilingual employees at the other two branches.
“We really want people to feel comfortable with our bank,” Cousineau said, “know we’ve been here since 1951 [and] are family owned. It’s a passion of our bank president and the families that own the bank and myself to serve the community and make it a better place.” |
