LANSING, Mich.–Astera Credit Union’s EmpowerMe Checking has been 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 core and strongly recommended features that ensure low cost, high functionality, and consumer safety.
According to Astera, key features of EmpowerMe Checking include a monthly cost of only $5, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, and federal deposit insurance.
Although the EmpowerMe Checking account comes with a $5 fee, members who sign up and are active with Astera’s LifeCents Financial Education web app can waive the monthly fee, the credit union added.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Astera Credit Union‘s EmpowerMe Checking,” said Jonathan Mintz, president, and CEO of the Cities for Financial Empowerment Fund. “EmpowerMe Checking offers Mid-Michigan residents looking to improve their finances a safe, affordable, and beneficial mainstream banking product to access and manage their money. Astera Credit Union’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”
Astera noted 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 identifies critical product features for appropriate bank or credit union accounts, making it easier for local coalitions nationwide to connect consumers to accounts that meet their needs.