If you were a billionaire what would you do with your money? How about buy a bank? Sounds like a good idea right, well Bob Johnson thought so too. Urban Trust Bank which is a minority controlled bank founded by BET creator Robert L. Johnson, Frank J. Hanna and Dr. DeForest B. Soaries, Jr., the Senior Pastor of the First Baptist Church of Lincoln Gardens in Somerset, New Jersey has been operating strong despite the ups and downs of the banking industry. Thus Urban Trust Bank will begin offering Visa-branded prepaid cards as part of the d-free financial literacy program.
“This program will allow Urban Trust to fulfill its mission of assisting community leaders to provide urban communities with the tools to help individuals gain financial literacy and savings for the future,” stated Johnson. “Financial literacy is the first step towards saving for home ownership the cornerstone for generational wealth in this country.”
In addition to churches, the program will expand to community organizations, credit unions, and student organizations. The prepaid card empowers cardholders with many of the benefits of traditional debit or credit cards, without the potential to misuse credit.
These cards may be used anywhere Visa debit cards are accepted for shopping and for ATM withdrawals at thousands of locations nationwide.
