Tigard, OR (June 21, 2024) |
Unitus Community Credit Union is proud to announce its Tru Checking account has earned certification for meeting the Bank On National Account Standards through the national Cities for Financial Empowerment Fund (CFE Fund). The standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality, and consumer safety.
Key features of the Unitus Tru Checking account include no monthly service fees, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, and federal deposit insurance. Tru Checking is available at each of Unitus’ 12 branches located in Oregon and Southwest Washington.
“We are pleased that our Tru Checking account has been certified as a safe and affordable option by the CFE fund,” explained Steven Stapp, President and CEO of Unitus Community Credit Union. “The Bank On certification strengthens our existing community partnerships through national recognition, while opening doors to additional community programs through the Bank On network.”
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Unitus Community Credit Union’s Tru Checking,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “Tru Checking offers Oregon and Washington residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. Unitus' offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”
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.
Financial institutions with Bank On certified accounts already comprise two-thirds of the national deposit market share. In addition to Tru Checking, there are close to 450 other Bank On certified accounts available at financial institutions across the country and 23 Oregon financial institutions
offer certified Bank On products. Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis through Bank On’s national reporting platform shows that these accounts are meeting consumers’ needs; since their offering, millions of consumers have opened Bank On certified accounts, with approximately 85% of them opened by consumers new to the financial institutions.
The CFE Fund leads the national Bank On movement, supporting 100 local coalitions working to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions, and community organizations. To learn more about Bank On and the National Account Standards click here.