MADISON, Wis.— Summit Credit Union said its Balance checking account has been officially certified by the Cities for Financial Empowerment (CFE) Fund as meeting the Bank On National Account Standards.
The certification, announced by Bank On Greater Milwaukee, recognizes accounts that ensure low cost and high functionality while promoting consumer safety.
According to Summit, the Balance checking account offers a variety of features that make checking more available and sustainable for members of the community, including no overdraft or nonsufficient fund fees, free bill pay, the ability to make purchases with a free debit card and federal deposit insurance. The account allows individuals and families to hold a basic transaction account for functions like direct deposit of income and stimulus and unemployment payments without risk of unpredictable charges.
“Every day we are looking for new ways to make financial tools easier to understand and more accessible,” said Summit Credit Union CEO & President Kim Sponem. “Our partnership with Bank On Greater Milwaukee is a perfect fit. We share the goal of greater financial stability for families and communities.”
Making it Easier to Connect
Summit CU noted Bank On Greater Milwaukee works with area financial institutions, community organizations, local government leaders and federal regulators to connect Greater Milwaukee residents to safe, affordable and productive banking accounts. The Bank On National Account Standards identify critical product features for financial institutions, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.
“We’re proud to be working with Summit Credit Union to provide another low-cost, low-fee transaction account to the Greater Milwaukee area. Having account options, like Summit’s Balance checking account, allows people to find services that not only meet their needs but also help families reach their goals,” said Constance Alberts, program manager of Bank On Greater Milwaukee.
For info: SummitCreditUnion.com/checking.