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Bank Accounts

Banks are businesses which provide financial services, usually for profit. A commercial bank accepts deposits from customers and in turn makes loans based on those deposits. In addition to deposits, traditional banks loan money and process transactions for their customers. Many banks offer complementary financial services for its customers including, credit cards, insurance, investments and trust services.

Non-traditional or fringe financial service organizations play an important role because they offer services to consumers whose credit scores are too low to receive traditional banking and credit services. Renewal is focused on improving the financial intelligence and credit worthiness of this market, estimated at between 45 and 70 million Americans. Renewal has partnered with traditional banks and financial service organizations to extend their non-predatory services to you, our client.