Inland Bank and Trust (“Inland Bank”) announced that its Foundation Account was officially certified by the national Cities for Financial Empowerment Fund (“CFE Fund”) as meeting the Bank On National Account Standards for the 2021-2022 year. The National Safe Account Standards were co-created by consumer advocates, leading national non-profit organizations, civic leaders, and other financial institutions to designate core features that ensure low cost, high functionality and consumer safety.
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“Our participation in the Bank On program enables us to enhance our commitment to the communities we serve, which supports financial equity and inclusion for all.”
Inland Bank’s Foundation Account meets over 25 provisions for safe and affordable banking, including a $5.00 monthly fee – which is waived after one deposit within the same statement period – no overdraft or nonsufficient fund fees, no early close-out fee, the ability to pay bills and make purchases and federal deposit insurance.
“Millions of American households do not have access to conventional and affordable banking solutions,” said Tony Baeza, Senior Vice President of Retail Banking for Inland Bank. “Our participation in the Bank On program enables us to enhance our commitment to the communities we serve, which supports financial equity and inclusion for all.”
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Inland Bank’s Foundation Account is available at all Inland Bank locations throughout the Chicagoland area.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Inland Bank’s Foundation Account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “The Foundation Account offers Chicagoland residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product – this is especially important during COVID-19, as consumers need to access and manage their money both affordably and safely. Inland Bank’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”
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