Biking and Banking

a new Urban Partnership (no pun intended)

10/28/2011 0:23 AM

By Bonnie McGrath

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Greg Heck and the Bike



The opening ceremony of the Urban Partnership Bank micro-branch last week

Bikes in the South Loop are all over the place. But one will soon be leaving. It will be trekking over from Trek Bicycles at 1118 South Michigan Avenue to a lucky winner at a brand new Urban Partnership Bank micro-branch at 55 E. Jackson. The bank branch opened last Thursday and to get you to visit, they have a raffle going for a $550 Trek 7.1 FX, complete with a lock and fenders. The drawing is Monday. So get over there fast!


So why is the bank having a raffle? And why is Trek involved? The bank wants you to come over so they can introduce you to what they can do to help you build "a better and more vibrant life" in the heart of Chicago. Trek Bicycles on Michigan Avenue is the closest bike shop to the new bank branch. Manager Greg Heck said when he got the call asking him for the donation, he figured it would be good publicity. (It got me into the store. I've never been there and it's quite impressive. Bikes and accessories everywhere.)

Urban Partnership Bank--after landing the deposits and assets of ShoreBank last year--wants to expand high-quality, low-cost service to neglected city residents. They say they want to serve young adults entering the workforce and patrons of high-cost payday lenders, currency exchanges and large institutions with the latest technology, 24/7 access to bill-pay kiosks and ATMs. They want to be ensconced in high traffic areas on the first floor, bright and visible, comfy and nontraditional--and near public transportation. They want to serve the "underbanked" and the "unbanked." And not charge high fees.

And they want to give away a bike from a South Loop business.


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