First Federal Bank of Kansas City joins Bank On movement to offer safe, affordable account for unbanked and underbanked individuals

LEAWOOD, Kan. , April 1, 2022 /PRNewswire/ -- First Federal Bank of Kansas City today announced that its GO Account is officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2021 - 2022), which were co-created by consumer advocates and other financial institutions to designate both core and strongly recommended features that ensure accounts provide low cost, high functionality, and consumer safety.

"Unbanked and underbanked individuals often resort to payday loans or check cashing services with shockingly high fees," said First Federal Bank's CEO and President J.R. Buckner. "We are opening the door for these individuals to rejoin the mainstream banking system with a low cost, convenient account created with their needs in mind so they can build a stronger financial future for themselves and their families."

First Federal Bank's GO Account features zero monthly fees, maintenance charges or required minimum account balance. Accountholders have free access to all digital features with online bill pay, direct deposit and the nationwide MoneyPass ATM network.

"We believe this will have a tremendous impact on low-to-moderate income families, especially in conjunction with our nonprofit partners that provide financial literacy coaching and job training," said Sandra Olivas, the bank's Community Development Officer. "Helping people safely and efficiently open a traditional bank account means more of their income will be available for everyday use and dedicated savings."

The GO Account is available at all 10 First Federal banking centers across the Kansas City Metropolitan area. In addition to First Federal Bank's GO Account, there are more than 200 other Bank On-certified accounts available at financial institutions across the country.

About First Federal Bank of Kansas City
Since 1934, First Federal Bank of Kansas City has pursued the vision of "prosperity and a home for all" by creating lasting customer relationships, through financial education, and a commitment to community support. As a mutual bank, community growth is company success. First Federal Bank offers retail banking and consumer, mortgage, and construction lending, serving more than 25,000 customers across 11 locations in the KC metro area and thousands of mortgage customers nationwide.
www.ffbkc.com

Media Contact:
Sandra Olivas | Community Development Officer
816.245.4275
[email protected]

SOURCE First Federal Bank of Kansas City