Popular Bank’s Consumer Checking Account Receives Bank On Certification
The Popular Easy Access Checking account was officially certified by the national nonprofit Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2021 – 2022). Bank On certified accounts are designed to promote financial inclusion for the underbanked and unbanked consumers through required account features that ensure low cost while provide robust transaction capabilities.
Popular Easy Access Checking went through a 25-feature certification process.
Key features of Popular Easy Access Checking include a low monthly cost (ranging from $3 to $5), low minimum opening deposit requirements, no low balance fees, and the ability to pay bills and make purchases. The checking account is currently available in our South Florida and New Jersey branches and will launch in New York on January 15, 2022, allowing consumers to open the account at any of the 39 Popular Bank branches.
“The mission of financial inclusion and equal access to banking services closely aligns with the core values of our organization,” said Manuel Chinea, Chief Operating Officer at Popular Bank. “Since our inception nearly 130 years ago, we have been committed to being there for our communities and as a Minority Depository Institution we are keenly aware of the disparities in access to financial services. Our Bank On certification is another step to help reduce those disparities.”
Popular Easy Access Checking helps expand access to financial products.
Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis shows that Bank On certified accounts, like Popular Easy Access Checking, are meeting consumers’ needs. Approximately 85% of those accounts are opened by consumers new to the financial institutions.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Popular Bank’s Easy Access Checking,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “Popular Easy Access Checking account offers residents in South Florida and the New York Metro area who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product. Popular Bank’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them”
Learn more about Popular Easy Access Checking.