DENVER–The Cities for Financial Empowerment Fund (CFE Fund) has officially certified Westerra Credit Union’s “Everyday Money Account” as meeting the Bank On National Account Standards.
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.
The certification is valid through 2024.
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.
“At Westerra Credit Union, the recognition of our Everyday Money Account by the Cities for Financial Empowerment Fund's Bank On certification is a testament to our commitment to our purpose – we exist to teach one another to prosper,” said Westerra CEO Jay Champion.
Key features of Westerra’s Everyday Money Account include no overdraft fees, no monthly fees, no minimum balance, no foreign transaction fees and 30,000 free ATMs nationwide. The features align with the Bank On Certification criteria of providing accessible and affordable financial services to individuals, the credit union said.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Westerra Credit Union’ s Everyday Money Account” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “An Everyday Money Account offers Colorado residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. Westerra Credit Union’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”