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Bank On Central Kentucky

What is Bank On Central Kentucky?

Bank On Central Kentucky connects individuals and families in Hardin, Grayson, Larue, Meade, and Breckinridge Counties with mainstream financial services including low-cost checking and savings accounts, regardless of their banking past. The ultimate goal of Bank On is to help individuals and families keep more of what they earn and start on a pathway to improved financial success.

Why Bank On Central Kentucky?

Without the most basic financial tool, a checking account, unbanked families are hard-pressed to build savings and assets, and to respond to emergencies. As a result, unbanked families:

1. Are forced to rely on expensive alternative systems that charge high fees. Examples: Check cashers, payday loan providers, pawn shops, auto title lenders, rent-to-own stores.

  • On average, these fees can range between 2% to 10% of the face value of a check.
  • For a lower-to-medium income worker, this can amount to $1,000 or more in fees per year, or $40,000 over an average working life.
  • Those who can least afford it are paying the most for services that they could access for little or no cost otherwise.
  • Check cashing does not provide individuals with any ability to manage or save money.   

2. Unbanked families lack the ability to save for the future, establish credit, and access asset-building instruments such as loans for a car, a small business, or home mortgage.

3. The unbanked are more likely to be the victims of crime.

  • Without a safe place to keep their money, unbanked people often carry large sums of cash on them or keep cash in their homes.
  • Elderly, disabled, or undocumented immigrants can be particularly vulnerable.

4. In the event of an emergency, unbanked families have no safe way to access their money - any cash kept in the home may be lost.

Get Started Today

Contact one of our financial institution partners below to see how you can open up an an account. 

The Cecilian Bank

Fort Knox Federal Credit Union

Lincoln National Bank

Navy Federal Credit Union

PNC Bank

Republic Bank

South Central Bank

United Bank

To download the Bank On flyer, click here. For a full list of locations and contact information, click here


You can learn more about other Bank On Initiatives and what the CFE Fund is doing to support local coalitions here.