CHICAGO (CBS) — The Bronzeville neighborhood celebrated the opening of a new bank Thursday.

The Urban Partnership Bank transformed a former Church’s Chicken restaurant at 101 E. 35th St. into a state-of-the-art new bank building. The location is directly across the street from Chicago Police Headquarters.

Community leaders say even though Bronzeville is one of the most economically stable neighborhoods on the city’s South Side, it is also vastly underserved by the banking industry.

The new bank will bring low-cost and fiscally responsible financial services to individuals, families and small businesses, a news release said.

Ald. Pat Dowell (3rd), Urban Partnership Bank president and chief executive officer William Farrow, and South Park Baptist Church pastor Rev. E.R. Williams were among those on hand for the dedication of the bank.