[DOWNLOAD] "Fringe Financial Services, Inner-City Banking & Community-Based Solutions (1)." by Canadian Journal of Urban Research # Book PDF Kindle ePub Free
eBook details
- Title: Fringe Financial Services, Inner-City Banking & Community-Based Solutions (1).
- Author : Canadian Journal of Urban Research
- Release Date : January 22, 2006
- Genre: Social Science,Books,Nonfiction,
- Pages : * pages
- Size : 226 KB
Description
Abstract This article considers the cost of fringe financial services--including payday lenders, cheque-cashers, pawnbrokers--for individuals and an inner-city community as compared with mainstream bank services. The analysis finds that the significant costs associated with fringe banking explain a variety of community-based models that seek, in different ways, to more effectively address the financial service needs of inner-city people and neighbourhoods. The article considers four community-based financial service models at various stages of their life-cycle: Four Corners Savings Association, Cash and Save, the Federation des Caisses Desjardins du Quebec micro-loan program and the Winnipeg Financial Service Program. These models range from a full service bank for an inner-city through a specialized loan fund to a bank-fringe bank hybrid. The article outlines some key ingredients to an effective financial service model including: identifying the key financial service needs in the neighbourhood, ensuring reasonable prices and limited subsidy and involving central stakeholders in governance.