Andre Alexander, pastor of The Tabernacle Church and president of Tabernacle Community Development Corporation [TCDC], says First Bank’s new branch in “The Hub,” at 3000 E. Prairie Street, is welcomed by Jeff-Vander-Lou neighborhood residents and businesses.
“Jeff-Vander-Lou faces banking challenges, and it was extremely difficult to find financial institutions that were willing to uplift this community until we met First Bank,” he said during a recent opening ceremony.
“First Bank’s presence and support, as well as the consequential ability for people to walk in and open a bank account or talk to an expert about saving and home loans, will be hugely impactful to our community.”
Over a 15-month period, TCDC used $1.5 million to transform the former Farragut Branch Elementary School building into a community resource center. Named “The Hub,” the neighborhood center opened in December 2021.
“It represents a partnership of St. Louis organizations and individuals that are committed to uplifting the community through career services, healthcare, legal counsel and now banking,” said Alexander.
Its First Bank branch will provide full banking services, an ATM and an ITM, an interactive teller machine that allows clients to video conference directly with a First Bank teller. The branch will also be staffed with a banking specialist that will divide time at the branch and engaging with residents and organizations in the neighborhood.
According to Alexander, the once-vibrant Jeff-Vander-Lou neighborhood has lost more than 30,000 residents since 1950, and its median family income is $23,000.
“We stand with Pastor Andre and The Hub to bring much-needed resources to this community,” said Stacy Clay, First Bank director of community affairs.
“We invite everyone in the community to visit our new location and talk with our local team about how we can be a resource no matter what your current financial situation is. We want to be a long-standing partner in this community.”
