Bank on Burque initiative aims to connect residents to safe banking options


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ALBUQUERQUE, NM (KRQE) – The city of Albuquerque is launching a new initiative to provide more residents with access to banking services. Bank on Desk is designed to connect unbanked residents to safe and affordable banking options in places like Nusenda Credit Union, Rio Grande Credit Union, and Bank of America.

The Bank On account will be an alternative to traditional bank accounts. The City of Albuquerque explains that Count on Certified accounts don’t offer overdraft fees or insufficient funds, are affordable with monthly fees of $ 10 or less, and have the ability to pay bills and be part of an ATM network.

The city says nearly one in three households in Albuquerque does not have access to banking services and instead relies on alternative financial services such as check tellers, payday lenders and pawn shops.

According to a City press release, these households are half as likely to be able to save for emergencies than those with an account and can spend more than $ 40,000 over their lifetime on fees to access their money. . Banks and credit unions with a certified Bank On account available in Albuquerque are as follows:

  • Bank of America
  • chase away
  • Discover (digital and online only)
  • First local bank
  • Caisse populaire de Nusenda
  • Rio Grande Caisse populaire
  • American Bank
  • S. Eagle Federal Credit Union
  • Wells fargo

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