CHARLOTTE AMALIE — Banco Popular’s commitment to its customers and its community was recently recognized when its Popular Checking Account, available for Virgin Islands clients, received a certification from the prestigious non-profit entity Cities for Financial Empowerment Fund.
This certification was granted after complying with the Bank On National Account Standards (2021 – 2022) for consumer transaction accounts that are considered safe and affordable.
Bank On-certified accounts promotes financial inclusion for the underbanked and unbanked consumers through standard account features that ensure low cost while offering robust transaction capabilities.
Popular Checking Account for the Virgin Islands stands out for:
- Low monthly cost (ranging from $2 to $5).
- Initial minimum deposit.
- Ability to pay bills and make purchases.
“The mission of financial inclusion and equitable access to banking services closely aligns with Popular’s core values. We are proud to be the first bank in Puerto Rico and the Virgin Islands with a product that receives a distinction of this magnitude. Since our inception 128 years ago, Popular has been committed to having a presence in our communities and being accessible to all types of customers. Our Bank On certification is another big step in the right direction,” said Luis Cestero, Executive Vice President of Individual Banking at Popular.
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 to accounts that meets their needs.
About Popular, Inc.
Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.
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 $55 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.