Bank On Louisville is proud to announce that First Financial Bank’s NoWorry Checking account has been officially certified by the National Cities for Financial Empowerment Fund (CFE funds) as responding to Bank on national account standards (2021 – 2022), and is available to residents of Louisville.
National Secure Account Standards, co-created by consumer advocates, leading national nonprofits, civic leaders and other financial institutions, point to essential and highly recommended features that ensure low cost, high functionality and consumer safety.
Bank On Louisville works with various financial institutions, community organizations, local government leaders and federal regulators to connect Louisville residents to safe, affordable and productive bank accounts.
First Financial Bank’s certification brings the number of institutions offering certified accounts in the Louisville area to nine.
âBank On Louisville applauds First Financial Bank’s commitment and dedication to helping create an inclusive financial landscape for our Louisville residents,â said Erin Waddell, Policy and Advocacy Officer for the Louisville Metropolitan Government and co-chair of Bank On Louisville. . âFirst Financial’s NoWorry Checking account further increases access and opportunities for all residents to be securely included and connected to traditional financial services – and, ultimately, supports the financial health of these residents. As a coalition, Bank On Louisville will work enthusiastically to connect residents to this secure and affordable account. “
Key features of the NoWorry Checking account include no overdraft fees or insufficient funds, the ability to pay bills and make purchases, and federal deposit insurance. The account includes a monthly service fee of $ 5. NoWorry Checking is available at First Financial branches in the area, including Louisville.
âFirst Financial’s NoWorry account illustrates our commitment to helping communities thrive, as it improves access to banking services for people who may be outside the traditional financial system or otherwise unable to open a bank account,â said said Archie Brown, President and CEO of First Financial. Bank. âA bank account is essential in helping people improve their financial well-being. Bank On certification demonstrates First Financial’s intention to provide our clients with accounts that will help them progress to a better financial future.
“Bank On Louisville is doing essential work to help Louisville residents get into the financial mainstream – this is especially important during COVID-19, as consumers need to access and manage their money both affordably and securely.” said David Rothstein, senior director of cities. for the Financial Empowerment Fund, which heads the National Bank On movement, supporting more than 90 local and state coalitions across the country that work to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions and community organizations.
“NoWorry Checking provides Louisville residents with an affordable, no-surprise fee account that allows people to get direct deposit of income and benefits (like raise or unemployment), then spend their money on bills and other expenses. safely, âRothstein said. âFirst Financial’s offering of this great account puts them at the forefront of national efforts to access banking services, and we thank them. “
With the addition of NoWorry Verification, accounts that meet Bank On National Account standards are now available at over 39,000 branches in all 50 states and Washington, DC; Financial institutions with Bank On certified accounts already represent more than 52% of the national deposit market share. In addition to NoWorry Checking, over 160 other Certified Bank On accounts are available nationwide, including nine in the Louisville area.
Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis via Bank On’s national reporting platform shows that these accounts meet the needs of consumers; since their offer, millions of consumers have opened certified Bank On accounts, of which around three quarters opened by new consumers to financial institutions.
To learn more about Bank On and national account standards, click here, or follow the conversation on Twitter @CFEfund #BankOn.
About Bank On Louisville
Launched in 2010, Bank On Louisville is a collaborative partnership between local government, financial institutions and community organizations that strive to improve the financial stability of the unbanked and underbanked residents of our Louisville community. To date, Bank On Louisville has helped connect over 43,000 residents to safe and affordable bank accounts and connect over 25,500 residents to quality financial education. Visit www.bankonlouisville.org for more information.
About First Financial Bancorp.
First Financial Bancorp is a banking holding company based in Cincinnati, Ohio. As of September 30, 2021, the Company had $ 16.0 billion in assets, $ 9.4 billion in loans, $ 12.7 billion in deposits and $ 2.2 billion in equity. The Company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six business segments: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to businesses and individuals. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and pension services and managed approximately $ 3.2 billion in assets under management as of September 30, 2021. The Company operated 139 full-service banking centers as of September 30, 2021, primarily in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends to targeted verticals nationwide. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.
About the Cities for Financial Empowerment Fund (CFE Fund)
The CFE Fund supports municipal efforts to improve household financial stability by taking advantage of opportunities unique to local government. By translating cutting-edge experience with large-scale programs, research and policies in cities of all sizes, the CFE Fund helps mayors and other local leaders identify, develop, fund, implement and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund currently works in more than 100 cities and counties and has provided more than $ 52 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund.
About the bank on
Bank On coalitions are locally led partnerships between local public officials; municipal, state and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. The National Bank On initiative builds on a grassroots movement of more than 90 coalitions in communities across the country, providing national account standards, capacity support, pilot funding and a learning community. In addition to connecting the unbanked to accounts, Bank On programs raise awareness, target the awareness of the unbanked, and expand access to financial education. Visit www.cfefund.org/bankon for more information, or follow the conversation on Twitter @CFEFund #BankOn.