Editor’s note: This story is part of our focus on solutions put forward to tackle big and small social problems in our communities. Our evidence-based reporting explores challenges in North Texas and looks for examples set by people trying to find answers that help.
PNC Bank is bringing a mobile branch to communities in North Texas that don’t have sufficient access to banking.
The 30-foot mobile unit looks similar to an RV. It has a cab for a driver, four wheels and a trailer-like body. But it’s outfitted to be a functional banking service and was custom-built for this initiative.
Residents will have access to deposit and takeout money from an ATM — including the option to withdraw $1 bills. They will be able to receive or replace debit cards, open bank accounts, apply for loans and more. Inside the unit, residents can discuss their finances with a banker in a private office area.
The mobile branch has security cameras, a retractable awning to protect clients from the sun and a wheelchair-accessible assistance button. The banking unit also has its own generator and satellite, so it can operate in disaster situations.
Regardless of whether or not customers bank with PNC, they can use the mobile branch, and services can be provided in English and Spanish.
The mobile branch is visiting partnering nonprofits every other week with contracts for three years that can be renewed if both parties agree. Each nonprofit hosting the mobile branch can provide specific information about dates and times they will be available.
![PNC Bank’s new mobile bank is equipped with a fully functional ATM.](https://dmn-dallas-news-prod.cdn.arcpublishing.com/resizer/v2/4OSUZT6NDJDH5EMXFVXORIZ6IA.jpg?auth=b0e106de0a6df5cbabf40bec9f13e2895a6dcf79bdc43fb5e90b351265657e75&width=830&quality=80)
Residents can use the mobile bank’s services to avoid predatory lending practices, like cash loan services, said Brendan McGuire, PNC regional president of North Texas.
The goal of the mobile branch, McGuire said, is to empower and educate users about what banking resources are available to them.
“We can take this branch to community centers within low- to moderate-income communities to help serve the residents of that neighborhood and not just bring them banking solutions but bring them the ability to improve their financial well-being,” McGuire said.
McGuire said PNC is working closely with its community partners to tailor solutions for each community and build trust with residents who are apprehensive about banking.
The mobile bank is a part of PNC’s $88 billion Community Benefits Plan, which was announced in April 2021 to support minority and low-income areas.
“We really invest in our communities to make them stronger,” McGuire said. “We’re now the fourth-largest bank in the region, and what we’ve been able to do is deliver our Main Street banking strategy in an innovative way.”
The mobile branch will serve several community centers in the area, including the Jubilee Park and Community Center, CitySquare, Foundation Communities, United MegaCare/T.D. Jakes Ministries, Texas Wesleyan University, LVTRise and Hunger Busters.
PNC piloted the mobile bank in Detroit, Baltimore and Chicago, and there are plans to expand into other parts of Texas, as well.
Banking looks different for residents across all of Dallas’ neighborhoods. Residents are “underbanked” when they do not have sufficient access to banking resources. For example, if a neighborhood doesn’t have a bank, residents often rely on nontraditional forms of banking like cash loan services. Residents are “unbanked” when they don’t have a bank account at all.
![Brendan McGuire explains the features of PNC Bank’s new mobile bank, which is equipped with...](https://dmn-dallas-news-prod.cdn.arcpublishing.com/resizer/v2/2F7GQP3A2BAYZFRDV45B5G5NAY.jpg?auth=afa9ce33b85e04599c7ffa0c51f5e7b73a092f18e824339da0193a0fbad22fca&width=830&quality=80)
In 2019, about 5.4% of U.S households were unbanked, according to a report from the Federal Deposit Insurance Corp. Black households were 13.8% of unbanked households; Hispanic households were 12.2%; white households were 2.5 %; and working-age disabled households were 16.2%.
In Texas 7.7% of the state was unbanked in 2019, according to the FDIC.
Urooj Khan, an associate professor in the University of Texas at Austin McCombs School of Business, said some people do not bank because they don’t trust the financial institution and have fears of being taken advantage of. Other difficulties people face with banking include language barriers and unfamiliarity with online, internet-based services.
He said solutions such as mobile banks have been piloted in other cities around the country and have the potential to be successful.
But in addition to community-based efforts, there needs to be education to promote financial inclusion, Khan said, particularly on the dangers of using payday loan services that take advantage of customers with high interest rates.
“You have to look at alternative channels through which you can offer these services,” he said. “However, just offering a branch is not the only way to make sure it succeeds. I think educating people about banking [and] money management is equally important.”
Mary Tillman-Young, Foundation Communities’ director of culture and engagement, said the partnership with PNC has been a “huge asset.” Foundation Communities is a low-income housing organization that is hosting the mobile branch at its Sleepy Hollow and Shadow Brook locations in Arlington.
Tillman-Young said accessing resources is often a barrier for residents at their Arlington locations because there is next to no public transportation. So having the PNC mobile branch on site at their locations is significant.
“It’s not just mobile banking, it’s not just ATM services, it’s not just financial literacy, but they bring all of those pieces together with a focus on resident education. That’s such a huge benefit,” she said.
CORRECTION, Wed. July 27 at 1:30 p.m.: A previous version of this story incorrectly quoted PNC regional president of North Texas Brendan McGuire discussing a “mainstream” banking strategy. He actually cited the company’s “Main Street” banking model.
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