Victoria Pannell Partners With Popular Community Bank to Open Up Savings Accounts For Young People

NEW YORK - March 26, 2015 - PRLog -- Banking is a common practice for many people, yet so foreign to young people from stressed communities. To help bring banking to inner city youth, Victoria Pannell approached bank officials and told them of her plan to open savings accounts for young people on a monthly basis. Popular Community bank agreed to help finance her first ten youth accounts.

Each account will have an initial deposit of $35.00 funded by Victoria Pannell and donations from Popular Comunity Bank Before the opening of the savings account, each young person, along with their guardian, will be given a short presentation on financial literacy and the responsibility of managing a bank account.  Having a personal savings account will help the young people establish banking and credit history, learn about financial planning, and avoiding the high fees of check cashing facilities when cashing payroll checks or money orders. The economic choke hold from lack of financial planning can be changed one young person at time.  This joint endeavor between Victoria Pannell's Tools Toward Change program and Popular Community Bank will be officially announced on Friday, March 27th at 3:30pm at Popular's Harlem location at 231 West 125th st, NY, NY 10027. In attendance will be Victoria Pannell, Popular Bank officials, and the 10 young people along with their guardians.