Posts Tagged ‘banks’

OneCAL SAFE

Wednesday, September 7th, 2011

Free Financial Education Classes are offered at:

OnePacific Coast Foundation

1438 Webster St., Ste. 101

Oakland, CA  94612

Classes for individuals:  Tuesdays 9:30-11:30am, 12:30-2:30pm, 4:30-6:30pm

OneCAL SAFE (Checking and Lifetime Savings Accounts with Financial Education) is an initiative of OneCalifornia Foundation, which in partnership with Bay Area non-profit organizations, works to provide low-income individuals and emerging small businesses with access to financial education and fair banking services.  Call 510.663.2253 x301 to register for a class.

Nonprofit Builder & Business Builder Loans

Friday, August 26th, 2011

New Loan Program to grow Nonprofit Organizations and Small Businesses

One PacificCoast Bank is now offering loans for nonprofits and businesses to help grow small enterprises. Business and Nonprofit Builder loans are from $5,000 to $25,000 and can be used to refinance business debt, purchase equipment, finance inventory and accounts receivable, tenant improvements, or other working capital needs. Loans cannot be used to repay personal debt.

Existing nonprofits or businesses with over three years of operations and profitability in the past year can apply. Loan terms range from two to four years and payments are made in monthly principal & interest installments. Collateral is required and there is a $100 application fee. For more information, please contact Cara Wick at 510.550.8431 or email cwick@opcb.com.

We are excited to be one of the few banks that provide loans to nonprofit organizations in the Bay Area!

One PacificCoast is Seeking Partners for Pal – Our Employee Assistance Loan Program

Friday, August 26th, 2011

New Fair & Manageable Alternative to Payday Loans

Seeking Partners for Pilot Alternative to Payday Loans

One PacificCoast Bank is excited to announce its pilot of a new alternative to payday loans: the Pal loan. This program will allow individuals to borrow from $500-$1000 dollars to cover an unexpected expense and pay it back in small monthly installments of 8-12 months. This loan is intended to provide a manageable alternative to expensive payday and car title loans that often keep people trapped in debt cycle.

In addition to the loan itself, this program can help build credit, includes financial tips and tools, and provides incentives to save. Our optional Automatic Payment and Savings program includes an immediate $25 incentive that gets deposited into a new free savings account for the borrower. Upon repayment, the same monthly amount will automatically transfer into their savings account each month until/unless the former borrower cancels it.

The program meets or exceeds the FDIC’s guidelines for small dollar loans, with an interest rate of 18% and a $30 financed loan origination fee. This fee is incorporated into the monthly loan payments; it is not paid up front.

The program launched on July 15th 2011 with four partner employers, and One PacificCoast Bank is seeking additional local employers to partner with us. Participating employers will let their staff know that the loan is available, will help them with application questions, and will provide employment verification. There are no fees or financial risks to the employer.

Employer requirements (for-profit or non-profit):

* 25 or more employees
* Most employees are year-round, not seasonal
* Offer direct deposit of payroll to employees

Interested employers should contact Erin Kilmer Neel at One PacificCoast Foundation, ekilmer@onepcf.org or 510.663.2253.

For more information about One Pacific Coast Bank,FSB, go to http://opcb.com. Member FDIC. Equal Housing Lender. CDFI Certified Bank.

Free Credit Reviews - When is the last time you checked your credit score?

Friday, August 26th, 2011

People’s Federal Credit Union is currently offering free credit report reviews. Make an appointment to receive a copy of your credit report and meet one-on-one with a trained credit coach. Credit coaches can answer questions and help you to make a plan to rebuild your credit. For more information, contact the People’s Federal Credit Union at 510.267.0450 x305, para espanol x307 or stop by at 1432 7th St. Oakland, CA 94607 across from the West Oakland Bart Station.

Research Backs Huffington Post’s Move Your Money Idea

Tuesday, June 15th, 2010

Last December, Ariana Huffington and a few friends around the dinner table came up with a way for We the People to take back our economy:  Move our Money.  They decided to start a campaign to encourage people to move their money out of the “too big to fail” banks, and into community banks and credit unions that are investing in our local neighborhoods and creating real economic activity.

They launched a website, created a video based on It’s A Wonderful Life, and provided social media and other tools to spread the word. In 6 months, the campaign has spread like wildfire, with articles in The Economist, the Nation, the New York Times, and CBS Monday Morning,  as well as membership in Facebook (36,000 fans), Ning, and Twitter,  and endorsements from Russell Simmons to members of congress. Community organizations such as Democracy for America and local independent business groups are mobilizing around the campaign, cities and states have moved their money. One recent survey indicates that 1 in 10 Americans have moved their money in protest of the big banks.

Research from The New Rules Project indicates this is a good idea. (more…)

Financial Crisis 101

Wednesday, July 15th, 2009

Everyone understands that the economy is in a bad place right now. We all know that unemployment and foreclosures are at highs not seen in the past 25 years. But, the media, government, and financial industry rarely address the situation in terms the general public can understand. NPR’s This American Life gets it. In an episode available for free here, Alex Blumberg and Adam Davidson explain why taxpayers have no viable alternative to bailing out banks and how insolvency became an issue in the first place. Blumberg and Davidson simplify bank balance sheets and address three realistic solutions to the current crisis. This episode even mentions ways that some individuals are making an effort to reduce the amount of toxic assets out there. This is truly a great way to learn about what’s going on not only in your own neighborhood, but also in the world economy today. After listening to Blumberg and Davidson, you will have an opinion on what’s happening in the economy, and you may even know what financial experts are talking about when they’re interviewed on the news! 

If you like this, also check out other programs from these guys, including Giant Pool of Money (May 2008) about the mortgage crisis and relationship between housing and the economy, and their daily blog and podcast.

Small Banks Recognized for Successes in the New York Times

Saturday, May 30th, 2009

OneCalifornia Bank may sing the praises of small banks all the time, but it isn’t the only one. Check out this May 2009 article in the New York Times about the successes of small, community-oriented banks. Link to the NYT article.