scp-photo

About Bank On Burque

Information about the Bank On Burque initiative.

Bank On Burque is a City of Albuquerque economic inclusion initiative for connecting individuals and families to safe and affordable checking accounts available in the Albuquerque community.

Bank On Burque Brochure - English, Español, Tiếng Việt (Chinese Mandarin - coming soon)

Our Mission:

  • To connect individuals and families to safe and affordable checking accounts available in the Albuquerque community.
  • To initiate and support a Bank On Burque Coalition inclusive of financial institutions, community organizations, local government, and federal regulators.

Quick Facts:

  • Close to 5% of U.S. households (approximately 12 million adults) are “unbanked,” without a checking or savings account.
  • Almost 11% of U.S. households (approximately 24 million adults) are underbanked, meaning they still use some fringe financial services.
  • Nearly 34% of unbanked and 45% of underbanked households earn less than $30,000 per year.
  • Nationally, 48% of Black households and 42% of Hispanic households are unbanked or underbanked, compared to less than 14% of white households.

 

The trend rate of unbanked Households in Albuquerque is higher than the national average - Prosperity NOW

A graph showing rates of unbanked households in Albuquerque and the United States.