PUEBLO, Colo.-- Minnequa Works Credit Union’s Overtime Checking Account has officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2023 - 2024).
The national safe account 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 Overtime Checking include no monthly cost, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, the ability to earn interest up to 1.5%, and federal deposit insurance held by NCUA. Overtime Checking is available in every one of Minnequa Works’ branches in Southern Colorado.
“At Minnequa Works we know how hard individuals in our community work, and we are excited to have an account that works hard for them and supports the unbanked,” said Nathan Cape, president of operations for Minnequa Works. “Our goal is to help people through their financial life, and the Bank On certified Overtime Checking is a unique account that truly helps to ensure peace of mind, consumer safety, and ease-of-use.”
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.