A Report to Pilsen Resurrection Development Corporation
Author: Charlie Adams
Summary
This report examines the financial services available to residents of the Pilsen community. Its purpose is to outline the availability of financial services, the use of those services, and the lending patterns of financial institutions located in the area. The information compiled for this report was obtained from a number of sources, including lending disclosure data, financial institution reports, and site visits to local financial institutions. Information about resident use of services was gathered from an existing survey and personal interviews with Pilsen leaders. The study found that a number of basic financial services are lacking in Pilsen. Only two institutions offer checking accounts and only two provide ATM service. In a community that is 88 percent Latino, only one institution, First Chicago, distributes literature in Spanish. The study also reveals that the majority of Pilsen residents use currency exchanges for their primary financial needs.
