Swirling in debt? Feel like you’re lost at sea, financially? Don’t know what to do? Maybe there’s someone close to you?

Busey Bank wants to help consumers cross over these troubled waters with its Bridge Center at 2120 SW Adams St. The services are free and designed to guide clients to financial literacy.

“Banks deny without telling the why,” said Vice President of Community Banking Luisa Gomez. “We want to help turn the hard No’s into a soft No, then to a Yes.”

Busey Bridge was created in 2022 and the Peoria location is the first of its kind for the financial institution. The center holds workshops from 6-7:30 p.m. Thursdays and Gomez and Engagement Manager Cesar Vargas hold weekly seminars throughout the community on things like credit scores, budgeting, retirement and fraud.

“We try to be realistic,” Gomez says. “We are a financial literacy lab. The little things add up. People need to realize what a budget is.”

The Bridge Center emphasizes the little things that can make a difference — encouraging prudent practices and cautioning about how mountains of debt can be created from the molehills of credit cards, money orders and payday loans.

Put your money to work

“It’s not about getting more money,” Gomez said. “It’s about what you do with the money you’ve received.

“How is that money being used? What are you doing with your money?”

So what can Busey Bridge do for the financially destitute? It can guide those who don’t have access to banking products to services within its purview.

First, the Start Fresh Checking Account is for people who have lost and/or are denied checking accounts at other banks. That can be a big help to getting through previous financial difficulties.

Second, Secure Credit Builder counsels on how to build better credit scores. The program can help people buy into a CD, for example, with a payment program. Making regular installments helps establish better credit and then there’s the dividend when that certificate of deposit comes to fruition.

Third, My Community Home Loans are specific to Busey Bank. They are designed not only for low- to moderate-income families, but are also offered to those looking to buy houses in certain tracts of the community.

Guiding light

Simple steps that the Bridge Center will recommend to help all its patrons. And it’s not just a funnel into Busey Bank products. Many may not know about the City of Peoria’s Down Payment Plus Program or the up to $15,000 available from the Federal Home Loan Bank of Chicago. Gomez, who came to Busey Bank to help build the Bridge after two decades in the nonprofit sector, is there to tell you.

There’s rental assistance offered by Peoria Citizens Committee for Economic Opportunity. Vargas, who helped found the Greater Peoria Hispanic Chamber of Commerce and has dedicated his life to serving his hometown community, is there to tell you about it. Bridge Center makes the connection.

“Someone may want a home, but they’re not ready yet,” Vargas said. “We work with them to get them ready — realize the rewards for raising their credit score.”

Busey Bridge is the brainchild of President of Community Banking Sandy DeMond. It’s a pilot program with the city’s first brick and mortar building dedicated to financial literacy.

“Busey Bank is invested in the community,” said Gomez. “We have a holistically healthy financial commitment.”

Financial confidence helps build healthier communities — mentally, physically, spiritually.

Community places

The Bridge extends throughout the community to churches and community centers, but the challenge is meeting with the folks who need help with their finances — those people may not be the first to line up for a financial seminar.

“We are always well-received. We make a lot of connections,” said Gomez, who is is excited about Trunk or Treat at the Bridge Center from 2-4 p.m. Saturday, Oct. 21. “We get people in front of the right people. We want to be known in the community. People are aware. How do we get people access to services? How do we get them in our door?”

A good reason to go to the Bridge Center is to use its Community Spaces. The building has several rooms hard-wired for technology — classrooms, boardrooms — that can be reserved free of charge for brainstorming, meetings, classes, etc.

Both Gomez and Vargas talked about a client who came to them while serving in a work-release program with the county jail. He finished work release, started a checking account, and paid his way into a CD.

“We can’t pull your credit report, but we can tell you where to go,” explained Gomez. “Let’s have a conversation. What are your financial goals? Where do you see yourself? What are your road blocks? We want to show you what’s possible.

“Let’s test it out and see if we can give people some traction. Be that beacon of hope.”