Foundation 99 releases Bank Card in Collaboration with Investor Cash Management (ICM) to Support Economic Access and Financial Empowerment for the 99%

AUSTIN, Texas, April 13, 2022 /PRNewswire/ -- To empower its mission to deliver "economic justice for every community by providing quality financial guidance and equitable access to economic solutions," Foundation 99 has partnered with Investor Cash Management (ICM) to offer an investment cash management account (ICMA) that uniquely combines the convenience of a bank account with the investment returns of a brokerage account. The program is available immediately to all members of the F99 community and those who support its values.

The F99 Bank Card harnesses unique technology to provide clients an integrated banking, investing, and payments product that combines immediate access to both bank and brokerage assets with the higher returns of specified investment funds. By linking to PIMCO investment products – including ESG funds – the F99 Bank Card aims to provide significantly higher yields than traditional bank accounts to provide a path to financial wellness and inclusion.

"With the launch of the F99 Bank Card, we make our mission easily accessible to everyone, and we empower individuals who may have been generationally ignored by the financial system, with an investment account," said Foundation 99 Board Member Bun B. "Every swipe of the F99 bank card helps Foundation 99 further its mission of empowerment and inclusion because a portion will be donated to support individuals who are on the verge of financial freedom." 

ICM's technology combines immediate access to cash and invested funds for in-store and online purchases, access to a surcharge-free ATM network, convenient bill payments, direct deposits and up to $ 5M of FDIC Insurance. Clients can manage their accounts via the F99 Apple/Android app and corresponding web portal. Additionally, F99 has also pledged that all clients will have access to its financial coaches.

Fred Phillips, CEO of Investor Cash Management, said, "Investor Cash Management is proud to provide the technology that empowers Foundation 99 to deliver actionable financial education and reduce persistent, pernicious investment gaps. Through our mission-driven partnership to democratize investment, the F99 Bank Card provides access to innovative financial services and a foundation to develop products that address important needs of the broader community."

With a seamless enrollment process, no credit checks, and no overdraft penalties, the F99 Bank Card removes barriers that otherwise may be obstacles to financial freedom: clients simply download the F99 Bank Card application on a mobile device or enroll via a web portal and follow the instructions. Soon thereafter, clients receive a Visa debit card issued by Sutton Bank, Member FDIC, and through their routine transaction activity can support the 99% on their journey to financial empowerment.

The funds that customers deposit or transfer into the F99 Bank Card account are available for use via the Visa debit card, ATM access, and online bill pay; similarly, clients may link their account to Apple Pay and Google Pay. F99 Bank Card utilizes enhanced security, data encryption, and fraud protection tools to protect customer assets and information. Upon successful enrollment, a bank account and an investment account are opened, and clients determine the amount of money to allocate among the banking and investment subaccounts. 

To obtain the F99 Bank Card, download the app via Google Play or the Apple App Store or visit Foundation99.org/Bank-Card.

About Foundation 99
Foundation 99 is a 501(c)(3) non-profit organization focused on bringing economic justice to every community by providing quality financial guidance and equitable access to economic solutions. Since the organization's founding in 2019, Foundation 99 has focused primarily on education services throughout school districts, governmental employers, non-profits, and other community-based organizations. With the launch of the F99 Bank Card, this is the first time that the non-profit makes its mission easily accessible to everyone

About Investor Cash Management
Investor Cash Management (ICM) has developed unique, API-driven technology to create investor cash management accounts (ICMAs) that link directly to high-yield FDIC insured accounts and specified SEC-registered securities (e.g., government money market funds, mutual funds, and/or ETFs).  All investment products contain risk and may lose value. ICM supports its distribution partners by providing them with turnkey, customized ICMAs, including a branded Apple and Android app, web portal, and Visa investment debit card. For more information, visit www.InvestorCashManagement.com. 

Disclosure:
The F99 Bank Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. All investment products contain risk and may lose value.

SOURCE Foundation 99

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