Northrim Bank is proud to offer a new checking account, Easy Banking, to provide a safe, affordable personal banking account to those who lack adequate access to traditional financial services. Easy Banking has been officially certified by the Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards for safe and affordable transaction accounts. Northrim is the first and currently the only Alaska-based financial institution to receive this certification.
The goal of this account is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify 25 critical product features for appropriate bank or credit union accounts, making it easier to connect consumers to accounts that meet their needs.
Key features of Northrim’s Easy Banking include the ability to pay bills and make purchases, federal deposit insurance, no minimum balance and no overdraft or nonsufficient fund fees. Easy Banking is available in every one of Northrim’s 19 branches across Alaska.
“We are pleased to be able to offer this new account to help serve our neighbors who are looking for safe, affordable banking options,” says Northrim Bank President Mike Huston. “Being certified by the Cities for Financial Empowerment Fund allows us to offer this account to Alaskans throughout the state. We look forward to sharing more about this account in our branches across Alaska.”
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Northrim Bank’s Easy Banking account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “Easy Banking offers Alaska residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. Northrim Bank’s offering of this terrific account bring them into the forefront of national banking access efforts, and we thank them.”
About the Cities for Financial Empowerment Fund (CFE Fund)
The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 100 cities and counties, and has disbursed over $64 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund.
About Bank On
Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. The Bank On national initiative builds on a grassroots movement of almost 100 coalitions in cities across the country, offering National Account Standards, capacity grant support, pilot funding, and a learning community. In addition to connecting unbanked individuals to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit www.cfefund.org/bankon for more information, or follow the conversation on Twitter @CFEFund #BankOn.