1. LSS Financial Counseling Service GET CHECKING TM Providing Access to Mainstream Financial Services Eleanor Lewis Get Checking Program Manager LSS Financial Counseling Service MN Saves May 15, 2008

2. LSS Financial Counseling Service Introduction According to the Federal Reserve Board, over 40 million consumers do not have a bank account. Lack of financial education is the primary factor so many consumers are ill-equipped to handle basic financial management tasks, making them less likely to succeed within the financial mainstream. Many communities recognize the value of financial literacy as a key component in community development initiatives.

3. LSS Financial Counseling Service Target Audience Unbanked (i.e., never-banked) Underbanked Formerly banked –ChexSystems

4. LSS Financial Counseling Service Never BankedFormerly BankedUnderbanked  Inadequate income  Lack of financial education  Undocumented  Poor/no credit history  Distrust of banks  Inadequate income  Lack of financial education  Poor/no credit history  ChexSystems Listing  Distrust of banks  Inadequate income  Lack of financial education  ChexSystems Listing  Poor/no credit history Get Checking: Target Customers

5. LSS Financial Counseling Service ChexSystems Part of eFunds corporation Debit bureau Risk assessment tool 9,000 financial institution customers Approximately 8 million consumers listed

6. LSS Financial Counseling Service Overview of Get Checking TM Get Checking provides financial institutions and community organizations a master blue print for developing financially responsible consumers. Through deposit management education and practical application, consumers who were once locked out of mainstream banking will now have access to build assets.

7. LSS Financial Counseling Service Overview of Get Checking TM Get Checking is a four hour educational program that develops basic financial knowledge and practical skills to successfully manage and maintain a deposit account. The education efforts of Get Checking help consumers build a solid financial foundation and take the next steps towards building assets within the financial mainstream.

8. LSS Financial Counseling Service History of Get Checking TM Inspired by a Milwaukee banker who wanted to address the need for mainstream banking opportunities in that market. Designed in 1998 by University of Wisconsin Extension and a coalition of community organizations, financial institutions and social service agencies in Milwaukee, WI. eFunds supported the development of the Get Checking curriculum and joined as a national partner in 2001.

9. LSS Financial Counseling Service Get Checking TM Program Eco-System CONSUMER EFUNDS CORP - CHEXSYSTEMS FINANCIAL INSTITUTION EDUCATIONAL PARTNER normal opening procedures followed and due diligence performed educational partner conducts classes and sends graduates back to referring financial institution consumers declined a deposit account are provided a brochure for Get Checking classes consumer comes into financial institution and inquires about opening an account

10. LSS Financial Counseling Service Program Objectives Short term Increase in awareness about: –Spending plans –How to work with financial institutions Intention to: –Create a spending plan –Open a checking account –Check their credit score Long term –Create and use spending plan –Open the account –Keep the account in good standing

11. LSS Financial Counseling Service Get Checking TM Curriculum Chapter 1: Introducing the Get Checking Program Chapter 2: Choosing an Account that is Right for You Chapter 3: Managing Your Checking Account Chapter 4: Keys to Successful Money Management and Credit

12. LSS Financial Counseling Service FI Partner Requirements One time monetary contribution Refer consumers to Get Checking Agree to open an account for anyone with a certificate of completion Attend one class per year Provide product brochures Track account openings and closings

13. LSS Financial Counseling Service Program Success Nationally, 95% of graduates maintain accounts in good standing one year later Nationally, almost 18,000 graduates In Minnesota, 130 graduates

14. LSS Financial Counseling Service History of Get Checking TM in Minnesota Provided exclusively by LSS Financial Counseling Service Two and a half years Twin Cities Metro, Duluth/Superior, St. Cloud, Rochester, Fargo/Moorhead 15 financial institution partners in Twin Cities

15. LSS Financial Counseling Service MN FI Partners Anchor Bank Associated Bank City & County Credit Union City-County Federal Credit Union Endura Financial Federal Credit Union Guaranty Bank Hiway Federal Credit Union M & I Marshall & Ilsley Bank MidCountry Bank South Metro Federal Credit Union Star Choice Credit Union Teacher Federal Credit Union TopLine Federal Credit Union US Bank US Federal Credit Union

16. LSS Financial Counseling Service Program Challenges Class requirements Class schedule Population size Changing market/Divergent directions of financial institutions

17. LSS Financial Counseling Service Response to Challenges Creative Referral Programs Streamlined Classes New Target Population

18. LSS Financial Counseling Service Future of Get Checking TM in MN Focus on Twin Cities metro area