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Solution: go to a local credit union (not a bank) and ask to speak to a manager. Explain your situation and that you want to fix it but can't. Many credit un

Solution: go to a local credit union (not a bank) and ask to speak to a manager. Explain your situation and that you want to fix it but can't. Many credit unions can open a no-frills checking account as essentially a probationary account for you that you can convert into whatever you want after a few months of good history. Source: I used to work at a credit union and we did this for people all the time.

gkop 4y ago
How about a solution to the structural problem? This isn’t my domain, but just spitballing, we could use public funds to advertise credit unions in low income neighborhoods. Would credit unions want this, or would it lead to harmful consequences? Another way of asking this is, how come credit unions take these customers that banks won’t?
- pandemicsoul 4y ago
  Postal banking would be a good solution. It would allow the post office to offer basic banking services for folks like this that can't access it at commercial institutions.
  - mjevans 4y ago
    You need to allow everyone to do banking via this resource and they should also want to use it as a bank. Otherwise you'll run into a situation where that bank is associated with risky customers and is thus treated based on that reputation.
    - sokoloff 4y ago
      Don’t let the perfect be the enemy of the good/better. If USPS banking helps the unbanked by only 50 units of help instead of a maximum of 100, it’s still a 50 point improvement. If Morgan Stanley or JPMorgan can offer me a better banking deal than the post office could, that’s no reason to not have the post office offer banking. I agree it should be open to everyone, but don’t agree that there can be a maximum of zero-point-zero difference in customer base vs other banks.
    - jumelles 4y ago
      Easy, give every SSN a corresponding USPS/public bank account
    - pandemicsoul 4y ago
      Yeah, I did not mean to imply that postal banking would just be for high-risk customers. There are no postal banking plans where that's a restriction – everyone would have access to it, including many who are too far from a bank to have regular access. The post office is the government's widest reaching physical presence in this country with more locations than any other part of government, so it makes sense that this would be an inroad into banking for lots of people.
TameAntelope 4y ago
I just love this narrative that someone who has lived their whole life with a fraught relationship with banks, overdrafting regularly, having trouble keeping their life in order, etc. will suddenly have the organization and forethought to walk into a bank, ask to speak with a manager, and be able to credibly promise that they want to fix this relationship. I'm not saying people can't change, but it's naive as hell to think that they will on a dime such as you suggest.
- jhartwig 4y ago
  Thanks for being a realist! I was thinking the same thing.
  - hyperdimension 4y ago
    I'm apt to be that cynical as well, but if what the original commenter said is true, that provides me with a little hope. It's so easy to slip through the cracks in the system, so to speak. A sudden medical bill or car problems, for instance. I realized on my drive to work today that my car is the only thing keeping me from poverty. Luckily, I have tools in the back and would probably be able to fix it myself. :) Also, once you're in it, you're in it, and it's a strong cycle. You don't always have the luxury of things we often take for granted like having a nice outfit to wear, reliable transportation to an interview, and finally not even having a mailing address if you even end up getting a job offer. It's like the places that offer a free shower and "nice" outfit (for an interview) to homeless people. Sometimes all it takes is that little boost to get (to be sure, the right person with the right attitude) someone back on their feet. I've luckily never been in that situation, but I can empathize and understand how a completely ordinary person could quickly end up there.
- ARandomerDude 4y ago
  It's not a narrative, it's my life experience. I saw it first hand, many times, which is why I commented. Sadly, there are many who will not become more responsible with time. But there are also many who will, and I'm glad to have been able to play the smallest role in helping people who genuinely want a fresh start.

gkop 4y ago

How about a solution to the structural problem? This isn’t my domain, but just spitballing, we could use public funds to advertise credit unions in low income neighborhoods. Would credit unions want this, or would it lead to harmful consequences? Another way of asking this is, how come credit unions take these customers that banks won’t?

pandemicsoul 4y ago
Postal banking would be a good solution. It would allow the post office to offer basic banking services for folks like this that can't access it at commercial institutions.
- mjevans 4y ago
  You need to allow everyone to do banking via this resource and they should also want to use it as a bank. Otherwise you'll run into a situation where that bank is associated with risky customers and is thus treated based on that reputation.
  - sokoloff 4y ago
    Don’t let the perfect be the enemy of the good/better. If USPS banking helps the unbanked by only 50 units of help instead of a maximum of 100, it’s still a 50 point improvement. If Morgan Stanley or JPMorgan can offer me a better banking deal than the post office could, that’s no reason to not have the post office offer banking. I agree it should be open to everyone, but don’t agree that there can be a maximum of zero-point-zero difference in customer base vs other banks.
  - jumelles 4y ago
    Easy, give every SSN a corresponding USPS/public bank account
  - pandemicsoul 4y ago
    Yeah, I did not mean to imply that postal banking would just be for high-risk customers. There are no postal banking plans where that's a restriction – everyone would have access to it, including many who are too far from a bank to have regular access. The post office is the government's widest reaching physical presence in this country with more locations than any other part of government, so it makes sense that this would be an inroad into banking for lots of people.

TameAntelope 4y ago

I just love this narrative that someone who has lived their whole life with a fraught relationship with banks, overdrafting regularly, having trouble keeping their life in order, etc. will suddenly have the organization and forethought to walk into a bank, ask to speak with a manager, and be able to credibly promise that they want to fix this relationship. I'm not saying people can't change, but it's naive as hell to think that they will on a dime such as you suggest.

jhartwig 4y ago
Thanks for being a realist! I was thinking the same thing.
- hyperdimension 4y ago
  I'm apt to be that cynical as well, but if what the original commenter said is true, that provides me with a little hope. It's so easy to slip through the cracks in the system, so to speak. A sudden medical bill or car problems, for instance. I realized on my drive to work today that my car is the only thing keeping me from poverty. Luckily, I have tools in the back and would probably be able to fix it myself. :) Also, once you're in it, you're in it, and it's a strong cycle. You don't always have the luxury of things we often take for granted like having a nice outfit to wear, reliable transportation to an interview, and finally not even having a mailing address if you even end up getting a job offer. It's like the places that offer a free shower and "nice" outfit (for an interview) to homeless people. Sometimes all it takes is that little boost to get (to be sure, the right person with the right attitude) someone back on their feet. I've luckily never been in that situation, but I can empathize and understand how a completely ordinary person could quickly end up there.
ARandomerDude 4y ago
It's not a narrative, it's my life experience. I saw it first hand, many times, which is why I commented. Sadly, there are many who will not become more responsible with time. But there are also many who will, and I'm glad to have been able to play the smallest role in helping people who genuinely want a fresh start.