“Unbanked and underbanked people often resort to payday loans or check cashing services with outrageously high fees,” said the CEO and President of First Federal Bank. J.R. Buckner. “We are opening the door for these people to join the traditional banking system with a convenient, low-cost account created with their needs in mind so they can build a stronger financial future for themselves and their families. .”
The First Federal Bank GO Account has no monthly fees, maintenance fees or minimum account balance required. Account holders have free access to all digital features with online bill payment, direct deposit and the national MoneyPass ATM network.
“We believe this will have a huge impact on low-to-moderate income families, especially working with our nonprofit partners who provide financial literacy coaching and job training,” said Sandra Olivas, the bank’s community development officer. “Helping people open a traditional bank account safely and efficiently means more of their income will be available for everyday use and dedicated savings.”
The GO account is available in the 10 First Federal banking centers across the Kansas City Metropolitan area. Besides the First Federal Bank 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 pursued the vision of “prosperity and a home for all” by creating lasting relationships with customers, through financial education and a commitment to community support. As a mutual bank, community growth is the success of the business. First Federal Bank offers retail banking and consumer, mortgage and construction lending, serving more than 25,000 customers at 11 locations in the KC metro area and thousands of mortgage customers nationwide.
Sandra Olivas | Community Development Officer
SOURCE First Federal Bank of Kansas City