We are excited to be the first credit union in California with both Minority Deposit Institution (MDI) and Juntos Avanzamos accreditations to add an account certified as meeting the Bank On National Account Standards. The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.
According to a recent survey conducted by the Federal Deposit Insurance Corporation (FDIC) in 2021, approximately 19 percent of households in California are classified as underbanked or unbanked. Moreover, 4.5 percent of households in the entire United States are unbanked, lacking both checking and savings accounts, while 14 percent are considered underbanked, relying on non-traditional financial services.
As a proud MDI, we are committed to offering affordable financial products to everyone we serve and our community. Which is why we believed it was crucial to introduce a new financial product Rise Checking. Our Rise Checking is a Bank On certified account that offers a wide range of benefits, which supports our mission of creating financial security for our community.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Tucoemas Rise Checking account” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund.
Our new Rise Checking account ensures secure access to traditional checking services, completely eliminating fees and overdraft charges, thereby helping individuals on their journey to a debt-free life. With this account, members receive a complimentary debit card, convenient mobile banking access, personalized financial counseling, educational resources, and the convenience of 30,000 Co-Op ATMs across the nation.
Learn more about our Rise Checking account here!