Valley Bank announced today that its Journey Checking account was officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2021 - 2022). The National Safe Account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality and consumer safety.
Key features of Valley Journey Checking include a low or no monthly fee, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases and federal deposit insurance. Valley Journey Checking is available in every one of Valley's branches across New Jersey, New York, Florida and Alabama.
"The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to the Valley Journey Checking account," said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. "Valley Journey Checking offers New Jersey, New York, Florida and Alabama residents who are looking to improve their finances a safe, affordable and truly useful mainstream banking product. Valley Bank's offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them."
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 identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.
"Valley Bank is honored to be part of a coalition that provides safe, low-cost accounts for the underbanked and unbanked," said Bernadette Mueller, Executive Vice President and Chief CSR-CRA Officer. "It's one step closer to ensuring all consumers have access to secure banking services."
To learn more about Valley's Journey Checking Account, click here.
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As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $41 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley's corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Care Center at 800-522-4100.
About the Cities for Financial Empowerment Fund (CFE Fund)
The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to 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 is currently working in over 100 cities and counties, and has disbursed over $43 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 Bank On
Bank On coalitions are locally-led partnerships between local public officials; city, 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 Bank On national initiative builds on a grassroots movement of over 80 coalitions in cities across the country, offering national account standards, capacity grant support, pilot funding, and a learning community. In addition to connecting unbanked individuals to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit www.cfefund.org/bankon for more information, or follow the conversation on Twitter @CFEFund #BankOn.
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