PremierOne Credit Union Earns Bank On Certification for Fresh Start Checking Account
PremierOne Credit Union proudly announces that its Fresh Start Checking Account has achieved national certification from the Cities for Financial Empowerment Fund. This significant milestone demonstrates the account's alignment with the Bank On National Account Standards.
Understanding the Certification
The Bank On National Account Standards serve as an essential benchmark for identifying safe and affordable consumer transaction accounts. The Fresh Start Checking Account has been recognized for meeting over 25 criteria, ensuring a resourceful solution for consumers looking for reliable banking options.
The Features of Fresh Start Checking Account
For just $5.00 monthly, the Fresh Start Checking Account offers a range of appealing features, including the absence of overdraft fees, hassle-free bill payments, and federal deposit insurance. This account opens doors for individuals seeking financial inclusion while providing a secure way to manage their money.
Insights from Industry Leaders
Jonathan Mintz, the President and CEO of the Cities for Financial Empowerment Fund, stated, "The Fresh Start Checking offers eligible residents a safe and affordable option to manage their finances successfully. This certification underscores PremierOne Credit Union’s commitment to bringing significant change in banking access efforts."
Dody Gemmette, VP of Business Operations at PremierOne Credit Union, emphasized their dedication to financial access, saying, "This certification demonstrates our determination to provide our communities with reliable banking services. The Fresh Start Checking Account was intricately designed to dismantle barriers, encouraging individuals to pursue their financial aspirations with confidence."
The Goals of the Bank On Initiative
The Bank On initiative aims to guarantee that everyone has access to essential financial products. By defining vital account features, this initiative simplifies the connection between local coalitions and accessible banking solutions.
With PremierOne Credit Union’s Fresh Start Checking Account, consumers can now find certified accounts in over 46,000 branches across all 50 states and Washington, DC. This initiative has seen tremendous success, with two-thirds of the national deposit market share constituted by institutions that offer Bank On certified accounts.
Impact on Communities
The Fresh Start Checking Account is among nearly 500 certified accounts available in the U.S, reflecting a growing shift towards inclusive financial practices. Data indicates that since launching these certified products, millions of new accounts have been created, significantly aiding consumers who were previously excluded from traditional banking services.
The CFE Fund is pivotal in the national Bank On movement, collaborating with over 100 local coalitions to integrate individuals into the financial mainstream. These partnerships not only strengthen community ties but also enhance individual financial stability.
Discover More About PremierOne Credit Union
PremierOne Credit Union is steadfast in its mission to improve members' financial lives by fostering trusted relationships and providing personalized services. With over $650 million in assets, the credit union serves a broad membership base across several counties, ensuring that their services meet the diverse needs of their members efficiently. Members enjoy access to five branches and thousands of ATMs, empowering them to manage their finances with ease.
Frequently Asked Questions
What is the Fresh Start Checking Account?
The Fresh Start Checking Account is a low-cost checking option designed to meet safe and affordable banking standards.
Who certifies the Fresh Start Checking Account?
The Cities for Financial Empowerment Fund certifies the account under its Bank On National Account Standards.
What are the costs associated with the Fresh Start Checking Account?
This account has a monthly fee of $5.00 and does not charge overdraft or nonsufficient fund fees.
What is the aim of the Bank On initiative?
Bank On aims to provide everyone with access to safe and affordable financial products and services.
How many Bank On certified accounts are available in the country?
There are about 500 Bank On certified accounts available across financial institutions in the United States.
