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PILOT PROGRAM ADDRESSES BANKING NEEDS OF PUBLIC HOUSING TENANTS

 ATLANTA, March 8 /PRNewswire/ -- A pilot program is being introduced to aid residents of the Carver Homes Public Housing Project in cashing government checks and making their rent payments.
 The program will also simplify requirements for Carver residents to open checking accounts. Developed in response to expressed needs of low- and moderate-income citizens for easier access to basic financial services, the plan is an initiative of the Carver Cluster of The Atlanta Project headed by former President Jimmy Carter.
 The plan was developed with input from the Cluster office, the Carver Homes Tenants Association and Trust Company Bank. Trust Company and AT&T are co-partners with the Carver Cluster, one of 20 geographic areas of The Atlanta Project.
 The Lakewood Branch of Trust Company Bank, located within the Carver Cluster, will offer a new package of services for Carver Homes residents which will include the following:
 -- With appropriate identification, the bank will cash Social Security, welfare and other government and pension checks for Carver Homes residents at no charge.
 -- Trust Company Bank is working with the Atlanta Housing Authority to establish procedures by which the bank may deduct the Carver Homes tenants' rent from their checks and remit directly to the Housing Authority. This will relieve tenants from having to buy money orders to pay their rent.
 -- The bank will conduct a series of educational programs at Carver Homes on various financial subjects, including the management of checking accounts.
 -- Tenants who attend one of these programs will automatically be entitled to open a checking or savings account at Trust Company's Lakewood Branch.
 -- For those with checking accounts, arrangements will be made for direct deposit to eliminate problems of lost or stolen checks.
 Edward P. Gould, chairman of the board of Trust Company, said: "The problems which public housing residents encounter in getting their checks cashed is a very real and serious concern. We are pleased to initiate this test program to see if we can eliminate the hassles and often excessive fees these citizens face in converting checks into cash and paying their bills."
 It is anticipated that implementation of this pilot program will begin on April 1.
 -0- 3/8/93
 /CONTACT: Linden Longino of Trust Company Bank, 404-588-8756/


CO: The Atlanta Project; Trust Company Bank ST: Georgia IN: FIN SU: PDT

BR -- AT005 -- 3906 03/08/93 10:25 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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