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East Waco receives new bank for first time in over 100 years

Posted at 8:03 PM, Oct 28, 2020
and last updated 2020-10-28 23:35:09-04

WACO, TX — A new page is turning in the story that is east Waco as the area prepares for a new bank. Once it opens on Monday, it'll be that area's first bank in over a century.

It's something east Wacoan Dinna Patton says will help local residents in need of close resources.

"They'd have to go way across town, and some people don't have transportation to get around," she explained.

TFNB Your Bank For Life, located along Elm Avenue, is taking over the former Train Waco Crossfit gym to fill a much bigger need in the community.

"You have to think about people's future and that's why I'm here. So many people don't understand the importance of having bank accounts and good credit," said TFNB Your Bank For Life's Assistant Vice President and New Account Specialist Karen Coleman.

Starting Monday, doors will open at TFNB Your Bank For Life to help guide people through loans, home buying and starting a small business, as well as help the community build relationships with the bankers to reach their financial goals.

"Some of the most established businesses are here in east Waco. Some of the most established homes, you have four to five generations of folks, that this is where they lived and grew up and still are," said TFNB Your Bank For Life's Director of Strategic Initiatives Jason Lavender.

The bank isn't the only change in the works.

Three hotels are under construction, as well as the Elm Avenue Streetscape Project, which aims to give people a new pedestrian experience with new landscaping and sidewalks.

"I think that east Waco hasn't seen the kind of investments that are needed to make the community thrive, and I think that the investments that are coming right in now really will bring things that are needed and will bring people together," said Megan Henderson, the Executive Director with City Center Waco.

The hotels and Streetscape Project are expected to be completed within the next two to three years.

The ribbon cutting ceremony for TFNB Your Bank For Life will be Monday from 11:45 a.m. to 1 p.m. Following the ceremony, the bank will be open to the public.

On November 19, TFNB Your Bank For Life is hosting a community open house to greet more people. There will be a band, food trucks and TFNB merchandise given away.