ETLC is tapping the unbanked and the underbanked market and it’s huge.
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ETLC recognized an untapped market: the unbanked and the underbanked. This represents a huge market and no one is serving this market by providing a means to participate in the online economic world.
Low-income and minority communities represent a strong demographic of Americans who are ‘unbanked.’ That means no banking relationship. A study released in March of 2007, by the National Community Reinvestment Coalition (NCRC) indicates that almost 21 percent of all U.S. households do not have any relationship with banks. NCRC is a nonprofit group founded in 1990 that tries to attract investment to poor communities and neighborhoods. There is a shortage of mainstream, regulated bank branches in working-class or minority neighborhoods, compared with white and upper-income neighborhoods around the country, noted the NCRC.
In America at least 12m households have no bank account. “Underbanked”–is a term for those with a low credit score or none. These two groups combined are estimated to exceed 40 million.
The unbanked and underbanked often use expensive “alternative financial providers” to pay bills, cash checks and borrow money. A study published in May of 2006 by the Federal Reserve Bank of Chicago and the Brookings Institution reports that cities with higher shares of “banked” residents tend to have higher rates of income, employment and homeownership, and lower crime rates.
The Center for Financial Services Innovation is a non-profit group that has closely studied the unbanked and underbanked. They noted that Visa, a credit-card organization estimates that the unbanked, underbanked and unregistered immigrants receive almost $1 trillion a year from employers, government and insurers. Elizabeth Rowe of Guideline, a research firm in New York, believes that banks which absorbed the business of the alternative financial sector would bring in $9 billion before any cross-selling of other products. “The unbanked are an upwardly mobile population,” she notes. This is NOT news to ETLC!
1. ETLC provides a payment option for the estimated unbanked and underbanked.
2. ETLC provides a secure simple reliable way to buy on line without a bank card and credit card
3. ETLC exceeds online payment industry security standards
4. ETLC is the first company to create payment applications which combine land line with broadband
5. ETLC can connect any carrier technology at any location
6. ETLC is the first to the table with this ability — virtually no one is doing this — yet!
7. ETLC is ahead in the game in getting established
8. ETLC has the MUST have service provider: AT&T !
9. ETLC’s relationship with AT&T is evidence itself of their reliability
10. ETLC is not only a national application but an international application
Be sure to read Stock Guru’s Profile on ETLC!
Etelcharge.com
1636 North Hampton Road
Suite 270
DeSoto, Texas 75115-8621
Phone: (972) 298-3800
Toll Free: (800) 954-3227
Email: info@etelcharge.com
Investor Relations:
(866) 653-ETLC (3852)
Allegro Business Development
Cynthia DeMonte
(917) 273-1717
cdemonte@aol.com
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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