Financial Update - Volume 19, Number 3 - Atlanta Fed Publishes Consumer Guide to Opening a Bank Account
Vol. 19, No. 3,
Third Quarter 2006
New Brochure Touts
Goal of the brochure
The brochure, A Guide to Your First Bank Account, introduces consumers to the advantages of using a bank and discusses the two main types of accounts—checking and savings—and offers suggestions on how a consumer can open and maintain a bank account.
The brochure, which is available in English and Spanish, addresses apprehensions consumers may have about using banks, including privacy concerns, credit problems, language barriers, and discomfort in a bank setting.
“One of our goals at the Atlanta Fed is to help consumers who do not currently use banks understand and successfully interact with banking institutions,” said Juan Sanchez, assistant vice president and community affairs officer in the supervision and regulation division at the Atlanta Fed. “This brochure is part of an effort to explain banks to this underserved population.”
Distributing the brochure
The brochure was highlighted recently in the Atlanta Fed’s publication, Partners, and it is available on the Internet. The Atlanta Fed’s community affairs department is distributing the brochure to community organizations in the Southeast and to their counterparts at other Federal Reserve Banks.