October 13, 2005

Get Checking program helps Hoosiers grow financially

WEST LAFAYETTE, Ind. - More than 500,000 Hoosier adults can't get a checking account because of previous mismanagement. For that reason, the Purdue University Cooperative Extension Service is working with partners throughout the state to offer Get Checking, a financial management program that helps Hoosiers get access to financial services.

"When people attend this class they learn money management and financial planning skills," said Elizabeth Kiss, a Purdue Extension financial management specialist. After successful completion, they receive a certificate they can use at a participating financial institution to open a new checking account."

Originally offered in 2003 by Purdue Extension in Marion and Johnson counties, the program was so successful that it's now being launched statewide.

"Last year 711 people in the Indianapolis metro area earned Get Checking certificates," said Rebecca Haynes-Bordas, a Purdue Extension educator in Marion County. "These 711 people now have the basic building block required to buy a home, or a car, or a multitude of other things."

Haynes-Bordas, who recently won an award for her work with the Get Checking program said, "In Indiana, individuals without checking account access pay an average of $400 each year to cash checks and purchase money orders. I've had students who've spent as much as $1,200 a year to get checks cashed."

Get Checking is a coalition of non-profit agencies, financial institutions and educational partners that includes Purdue Extension and is supported by the Federal Home Loan Bank of Indianapolis.

"This program wouldn't be possible without the partnership and help of the financial institutions," Kiss said.

Information about dates and locations where Get Checking programs are scheduled, and participating institutions, is available from Kiss at (877) 656-0007 or by contacting the local Purdue Extension office.

Individuals whose accounts were closed due to fraudulent activity are not eligible for the certificate. In addition, those with outstanding fees from a previous checking account must settle the debt prior to opening a new account.

Writer: Kay Hagen, (765) 494-6682, kjh@purdue.edu

Sources: Elizabeth Kiss, (877) 656-0007, kissde@purdue.edu

Rebecca Haynes-Bordas, (317) 275-9305, haynesar@purdue.edu

Ag Communications: (765) 494-2722;
Beth Forbes, forbes@purdue.edu
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