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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.

Ensuring that low-cost, no overdraft, no-surprise-fee bank and credit union accounts are an option for unbanked and underserved individuals.

City Launches " Bank On Burque" Initiative for Safe Banking Access - June 18, 2021

City Encourages Families to Take Advantage of "Bank On Burque" Banking Services Ahead of Federal Child Tax Credits - July 14, 2021

 

Bank On Burque tri-fold printable brochure - English, Spanish -Español, Vietnamese -Tiếng Việt,  Chinese -  中国人

 

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.  Bank On coalitions are locally-led partnerships between local public officials; city,state, and federal government agencies; financial institutions; and community organizations that work together to expand banking access in their communities.

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.