Atlanta Fed Publishes Consumer Guide to Opening a Bank Account

For immediate release: June 29, 2006

The Federal Reserve Bank of Atlanta announced the publication of a consumer guide that provides practical information on opening a bank account.

The brochure, A Guide to Your First Bank Account, introduces consumers to the advantages of using a bank. It also contains information about the two main types of accounts that are available, checking and savings, and offers suggestions on how a consumer can open and maintain a bank account.

The brochure addresses apprehensions consumers may have about using banks, including privacy concerns, credit problems, language barriers and feeling uncomfortable 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 an effort to explain banks to this underserved population.”

A Guide to Your First Bank Account is available on the Atlanta Fed’s Web site.

Contact: Jean Tate 404-498-8035