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Frequently Asked Questions

Answers to Frequently Asked Questions about the Bank On Burque Initiative and Bank On certified accounts.

What is Bank On Burque?

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. The Bank On Burque Coalition is a partnership between banks, credit unions, community organizations, banking regulators and the City of Albuquerque. Banks and credit unions in the Bank On Burque Coalition have agreed to offer low-cost checking accounts at their participating branches.

Do I have to be an Albuquerque resident to open an account?

No, you do not have to be an Albuquerque resident to open an account.

Are only banks and credit unions in Albuquerque offering these accounts?

No, some banks and credit unions have participating branches throughout the region and even nationally.

How do I choose the account that is best for me?

See the Certified Accounts and Features page.

Where should I go to open an account?

To find a participating branch near you that has the account you chose see the map here

What kind of identification do I need to open an account?

These can be specific to different banks/credit unions and are listed on the Certified Accounts and Features page. Be sure to confirm the identification you need to have with the financial institution.

Do I need a Social Security number to open an account?

In some cases you can use other forms of identification such as an Individual Taxpayer Identification Number (ITIN) Click here to see which forms of ID are accepted by each bank.  Be sure to confirm the identification you need to have with the financial institution.

Can I open an account if I have had trouble with an account in the past?

Yes, but in some cases you may have to prove that you’ve attended financial education and/or repaid any debts. Banks.credit unions have different policies, and it is worthwhile to explore. Some banks/credit unions do not check your record and will open an account as long as you don’t owe them money. 

View the account details for the account you are considering on this page. Also contact the financial institution with any questions regarding screening or checking of records.  Remember it is always ok to ask questions.