“Thousands of Twin Citians are without a banking account. For them, just to use and save the money they earn can be an expensive hassle.

St. Paul nonprofit Prepare + Prosper will launch a bundle of products on Tuesday for low-income, financially underserved individuals to build their credit and savings and avoid the high-cost fees and interest that services like check cashiers and payday loan providers charge.

The three-part FAIR (Financial Access in Reach) financial solution, with partner Guaranty Bank, includes a checking and savings account with no overdraft fees and minimum balance requirements as well as a credit-building loan that a customer will pay toward each month.”

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