Members of the East Side Renaissance are moving forward with plans to revitalize the Parade Street corridor.

On Thursday, the organization announced that it is teaming up with ErieBank to build a brand-new bank and financial education center on the corner of East 10th and Parade Streets.

"The days of this community being neglected and marginalized are gone," said East Side Renaissance CEO Bishop Dwane Brock. "We're going to change the dynamics right here on Parade Street, and we're going to promote generational wealth."

The new facility will provide banking services and programs that help improve the financial literacy of east Erie residents.

"There are so many underserved, so many residents and even businesses that have been marginalized and not given an opportunity and we want to provide hope," said ErieBank president Dave Zimmer. "We want to educate consumers. We want people to have a financial plan and flourish."

The new branch is a culmination of what the East Side Renaissance has been working on, for the past three years.

"This gives us the opportunity to be the conduit for people to build a relationship with the bank in their own back yard and enjoy all the spoils that we call the American Dream," said East Side Renaissance co-founder Marcus Atkinson. "It means a lot to us."

This story is supported by the Economic Hardship Reporting Project.