AKRON, Ohio — The shuttered Huntington Financial institution department on Kenmore Boulevard is poised to be reworked right into a monetary providers middle for residents within the metropolis’s Kenmore neighborhood.
United Approach of Summit County, the Metropolis of Akron and Huntington Nationwide Financial institution introduced on Thursday they’ll create the county’s first monetary empowerment middle within the former four,000-sq.-foot department at 1060 Kenmore Blvd.
Huntington closed its financial institution department there on Sept. 29 and is donating the property to United Approach for the brand new undertaking.
The empowerment middle, anticipated to open in early 2018, is modeled after monetary empowerment facilities in a number of U.S. cities, together with Nashville, the place United Approach CEO Jim Mullins was employed earlier than becoming a member of United Means in Summit County.
The facilities, pioneered by Bloomberg Philanthropies, have efficiently served communities throughout the U.S. with demographics just like many areas of Summit County, Mullins stated.
“Individuals are going to work daily however they want an additional carry to get to put of monetary stability,” he stated. In Nashville, the facilities grew slowly at first — serving 500 shoppers the primary yr. It grew exponentially in yr three to serve 5,000 shoppers as soon as residents noticed constructive outcomes.
Mullins sees the Kenmore empowerment middle as the primary of a number of such facilities the United Method will launch in Summit County. It is going to be staffed by United Method-educated licensed monetary counselors, who will work with residents at no cost, serving to them construct belongings, scale back debt, finances for the longer term, enhance their credit score scores and entry protected and reasonably priced banking providers.
Mullins stated Huntington Financial institution’s donation is an enormous boon for Kenmore as a result of it is in a great, central location.
“Our pals and neighbors will now have entry to sound monetary schooling and counseling, which can strengthen the material of our group by enabling households to pursue their goals and safe a future full of monetary success,” stated Nicholas Browning, president of Huntington Financial institution’s Larger Akron Area, in a information launch.
The Monetary Empowerment Middle additionally will help United Approach’s Daring Objectives, which purpose to enhance key circumstances locally by 2025. A type of objectives is to financially empower eleven,000 Akron residents who’re working, however who’re struggling to get traction financially.
The objective of the middle is to not compete with social providers businesses, which Akron Councilman Mike Freeman stated initially involved him.