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Blowing on Embers Blog


Visit the Blowing on Embers Blog.  Helping banks to implement profitable and fundamentally unique solutions for banking unbanked and underbanked consumers and business owners, building trust and brand loyalty, and helping consumers and business owners comprising the unbanked and underbanked market segments to unleash their market power.

Banking the UnBanked

In 2009, the FDIC released a study that showed that in St. Louis the racial disparity in banking is the largest in the country: more than 31% of African American households are unbanked and 34% are under-banked. The implications of an individual or household being unbanked can have a disastrous effect on a household budget.

Justine PETERSEN is committed to addressing this serious problem by partnering with financial institutions to provide safe and affordable checking, savings, and credit building products to low-to-moderate income clients. Justine PETERSEN is also working with its clients to understand the importance of having and using bank products.

Another answer to leveling the disparities in banking involves working with those, which are unbanked and under-banked, to raise and maintain a high credit score. Justine PETERSEN believes that a high credit score is the single most important asset for an individual in today’s economy.  With the right information and financial tools, anyone can attain a high credit score regardless of past credit  habits and current income.

Spotlight on Partnership

St. Louis Regional Unbanked Taskforce
Justine PETERSEN is part of an alliance of community groups, lending institutions and concerned citizens addressing the plight of the unbanked and underbanked in the St. Louis metro area.  Through the efforts of the taskforce, banking products and services are made available to neighborhoods and populations most in need.

PNC Bank Foundations of Money Management

Justine PETERSEN partners with PNC Bank to broaden access to affordable checking and savings accounts through PNC’s Foundations of Money Management program.  Justine PETERSEN offers on-site workshop instruction as part of PNC’s readiness curriculum in preparation of opening a bank account.

Bank of America Investment in Micro-Loan Fund

Justine PETERSEN and Bank of America have partnered to leverage additional funds for Justine PETERSEN’s SBA Microlending Program.  BOA’s investment will enable Justine PETERSEN to provide further access to safe and affordable capital for small businesses.