ChexSystems and 'Bank On' Help CUs Serve Communities

Bank On logo

Yesterday, representatives from FIS/ChexSystems gave an overview of its role in the national Bank On Initiative and partnership with the Cities for Financial Empowerment Fund (CFE) to deliver a Bank On Bundle to interested credit union leaders across California and Nevada.

The Bank On Bundle includes certain ChexSystems solutions that cross-reference, track, and update consumer deposit/lending information and financial history to help credit unions make the right decision when deciding whether to open Bank On accounts for the unbanked or underbanked.

The California and Nevada Credit Union Leagues are asking credit unions to consider offering an account that meets Bank On national account standards to increase the availability of safe, low-cost transactions for millions of unbanked or underbanked consumers in both states.

Credit unions can apply here or view more information here (you can also read Leagues Request CUs Get 'Bank On Certified' to Spotlight Work).

A future online meeting with FIS/ChexSystems will be scheduled so credit union CEOs, senior management, and others can take a deeper dive.

Meanwhile, the Leagues also interviewed Financial Partners CU’s Joseph Brancucci on the credit union’s Bank On approach, how it utilized this tool to reach and engage with new and existing members, and the community result.

For more information or questions, please email Leagues Vice President of Social Impact Daniel West.

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