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
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
