#United States #San Jose #Fresh Start #financial empowerment #PremierOne

PremierOne Credit Union's Fresh Start Checking Account Achieves National Certification

In a significant move towards promoting financial inclusion, PremierOne Credit Union has announced that its Fresh Start Checking Account has received national certification from the Cities for Financial Empowerment Fund (CFE Fund). This certification verifies that the account meets the rigorous Bank On National Account Standards for 2025-2026, designed to ensure safe, affordable, and functional banking options for consumers.

Understanding the Certification

The Bank On National Account Standards were developed through collaboration among consumer advocates, prominent nonprofit organizations, civic leaders, and financial institutions. These standards emphasize essential features that prioritize low costs, high functionality, and safety for consumers. By adhering to these standards, PremierOne’s Fresh Start Checking Account assures account holders that they have access to a reliable banking product that meets their needs.

PremierOne Credit Union's Fresh Start Checking Account boasts a low monthly fee of only $5.00, with zero overdraft or non-sufficient fund fees, making it an ideal option for individuals looking to manage their money more effectively. Furthermore, the account offers essential services such as bill payment and purchasing capabilities, combined with the peace of mind that comes from federal deposit insurance.

Promoting Financial Inclusion

Jonathan Mintz, President and CEO of the CFE Fund, expressed his enthusiasm over the certification, stating, "Fresh Start Checking offers eligible residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money." This statement highlights the account's role in enhancing access to financial services for individuals who might otherwise face barriers due to high fees or limited banking options.

Dody Gemmette, Vice President of Business Operations at PremierOne, further emphasized the credit union's commitment to providing accessible banking solutions. She pointed out that the Fresh Start Checking Account is tailored to eliminate common obstacles to banking, assisting individuals in taking steps towards long-term financial stability.

Expansion of Access to Certified Accounts

The introduction of Fresh Start Checking expands the landscape of Bank On certified accounts, which are now available at more than 46,000 branches across all 50 states, including Washington, D.C. Notably, financial institutions that offer Bank On certified accounts account for two-thirds of the national deposit market share. Nearly 500 different Bank On certified accounts are currently accessible through various financial institutions, aimed at meeting the diverse needs of consumers across the country.

Data collected by the CFE Fund, in conjunction with the Federal Reserve Bank of St. Louis, indicates that these accounts have proven effective in fulfilling consumer needs. Millions of consumers have opted for Bank On certified accounts, with around 85% of those accounts being opened by individuals who are new to those financial institutions.

About PremierOne Credit Union

Established with a mission to empower its members, PremierOne Credit Union serves individuals residing, working, studying, or worshipping in several California counties including Santa Clara and Santa Cruz, among others. With over $650 million in assets, PremierOne is dedicated to building trusted relationships and providing personalized services that enhance financial well-being. Members also benefit from access to a robust network of over 5,000 CO-OP branches and 30,000 ATMs across the United States.

For more information about PremierOne and the Fresh Start Checking Account, visit PremierOne Credit Union's official website.

About the Cities for Financial Empowerment Fund

The CFE Fund is committed to enhancing the financial resiliency of households by facilitating access to effective banking services. Through partnerships with local governments, financial institutions, and community organizations, the CFE Fund plays a pivotal role in connecting individuals to safe financial products and helping families maximize their financial resources.

To learn more about the Bank On initiative and the National Account Standards, visit CFE Fund's official website or engage with them on social media for ongoing discussions regarding financial empowerment.