THE FIRST FINANCIAL SERVICES PLATFORM FOR THE JUSTICE-IMPACTED COMMUNITY
BUILT FOR THE COMMUNITY BY THE COMMUNITY
NEW YORK, April 24, 2023 /PRNewswire/ -- Entrepreneurs Dr. Topeka K. Sam, Danny Feldman and Chris Heckler announced today the launch of FRSH, the first financial services platform built for the justice-impacted community. The mobile platform includes an FDIC insured bank account, debit card, and access to health benefits.
Users will receive a virtual card in the app, followed by a debit card in the mail, access to over 55 thousand free ATMs, no-fee direct deposit, no-fee bill pay, and no overdraft fees. FRSH does not require background checks, credit checks, proof of income, or a minimum balance to open a bank account.
"With more than 40,000 legal barriers to banking, employment, education and more, we experienced first-hand these basic human rights violations and witnessed how daily for millions of Americans who have been impacted by the criminal legal system experience the same. We wanted to create a solution that is a critical necessity for our community. Equity and access to financial education, products and services that matter. Our lived experience is our expertise. We are built for the community by the community. Just that simple." Dr. Topeka K. Sam, FRSH Chief Visionary Officer and co-founder
"We understand our history and how we got here. We've seen the conversations. We are here to change the outcomes for our community. Economic inclusion and opportunity are paramount to successful re-entry and reducing recidivism," Danny Feldman, FRSH CEO and co-founder.
There are over 70 million individuals in the United States with criminal convictions who often struggle with valid forms of ID, little upfront capital, accumulated debt, inactive accounts at large banks, and poor credit scores. 27% of the justice-impacted community remain unbanked in America, the largest of any demographic. 70% of those returning from incarceration don't have bank accounts within the first 3 years of release and many require medical attention.
"FRSH is disrupting the financial services industry with next gen technology that opens the door to a community that needs more help now than ever before. We are starting with the basics to get people back on their feet. Making it easier to pay fines and bills electronically will reduce their costs, save time, and help reduce recidivism," says Chris Heckler, FRSH President and co-founder.
Cashing your check can cost up to 13% in fees depending on the location. In fact, the check cashing industry makes over $19B a year from preying on our community. In the first year alone one can save $3,900 from not using check cashing facilities.
FRSH is 100% focused on giving the justice-impacted community access to the best banking products, health benefits, and life services no matter your background.
The justice-impacted community deserves the chance at economic mobility and stable, prosperous futures for themselves and their families. It's time for a FRSH Start.
We got you!
Visit myFRSH.com for more information.
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SOURCE FRSH
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