FI Covid Growth Strategy

As the Bank Desert crisis grips America, every day American’s lose their bank branch and become Bank Challenged (unbanked/underbanked, Millennial’s).
1 in 4 or 25% of American’s are now Bank Challenged.
74% of American’s are now living paycheck to paycheck.

Since 2008 bank’s have closed more branches since the Great Depression leaving vast Bank Deserts behind!
Will the new CoronaVirus threat repeat the market down turn of ’07-‘08 leaving still more people Bank Challenged and MORE bank branches closing their doors still further increasing the size of Bank Deserts across America?

In the wake of Covid...

How do banks grow revenues?
Are banks able to expand branch footprint?

Overall looking at the landscape, small community FI's must expand, find new customers or die off...
On the other hand, how does this happen wo major capital outlay and increased overhead (which include increased costs of health ins).

Mini branches = inexpensive = bigger distribution footprint
Mini branches = less people less Covid risk... why?
Expand w known Trusted Retailers = the retailer is already handling the Covid risk w defenses in place

AND the present mood of the country is a "feel good let's help people" one!
OuterBanx® Wins again!
The CU Wins! The Customer Wins ! The Community Wins! - Predatory Check Cashers LOOSE!

Digital Banking:

Since April 2019 to April 2020
14% increase in Digital Banking. 72% increase in overall digital banking activities!
23% increase in online customer sign on!
81% increase in mobile phone deposits!
[JD Power Survey]

Bank Challenged Market:

150mm Bank Challenged People living in Bank Deserts
Worth $325Bn in transactions at predatory Check Cashers (FDIC Study)
Worth $1.3Tn in wages (KPMG Study)
Worth $2.4Tn in economic value (KPMG Study)

Together we can solve the Bank Desert challenge and eliminate Predatory Check Cashers with OuterBanx®.

Your participation in this matter will make a difference in millions of people’s lives!