Section 2: How to Best Use the BLOC Program

Use your BLOC as your money account:

• deposit all income:
  all income earned such as pay, cash awards, bonuses, and cash gifts should be deposited (or paid) into your BLOC
  
  Note: you do not need to close your existing checking account. It may continue to function as your money-in and money-out account.
  
  You can use your checking account to manually or automatically deposit all income. You will then use your online banking to transfer checking deposits to your home equity line account (or if you don't have online transfer capabilities, you can issue a paper or electronic check for the amount to be deposited to your BLOC).
  
  
  
• pay all expenses (payments):
  you will pay all of your living expense payments from your BLOC. This includes:
  
  
  • your regular monthly mortgage payment
  • your utilities bills
  • your insurance
  • your living expenses