Mayor Kaplan to Host Financial Fair

piggy-bank-atop-moneyThis Thursday the City of Lauderhill will be holding a financial fair to kick off a new program to increase access to banking.

Bank On Lauderhill is a partnership between financial institution and non-profits. Mayor Richard Kaplan has been working to get it off of the ground for the past several months. The program seeks to address the problem of residents who either don’t have bank accounts or don’t use their accounts. According to Kaplan, the rate of households in Lauderhill without bank accounts is over twice the national average. This can take a huge toll on low income families who have to pay high fees to cash checks and pay bills.

The program partners with banks and credit unions to make it easier for residents to open accounts. Banks will offer lower or no-fee accounts and be more flexible with minimum account balances.

The Financial Fair is from 6:30 to 9:00 at Lauderhill 6-12 School. There will be free food, and over $5000 in prize givaways of items such as tickets to Universal Studios and Visa gift cards.

For more information on the program, go to www.bankonlauderhill.com

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