Today, the Bank On Burque initiative gathered local leaders, partner institutions, and members of the community to kick off Financial Empowerment Month and share more about the resources available to help people obtain financial independence. Bank On Burque’s mission is to connect people to safe and affordable bank accounts, helping them take control and better understand their finances without being victimized by predatory practices or unnecessary fees.
In 2019, Mayor Tim Keller announced the Bank On Burque Blueprint for Financial Empowerment, and since then, the initiative’s efforts have reduced the rate of unbanked households in Albuquerque from 8.8% to 4%, below the national average of 4.5%. The initiative continues to connect with families across our city through the Bank On Burque Coalition, a partnership between local governments and federal governments, financial institutions, and community organizations that work together to bring resources to more people.
Bank On Burque currently has 11 Bank and Credit Union partners who offer certified accounts with low or no fees and low barriers to open. Bank On Burque also expanded its services last year to offer the first certified bank accounts for the City’s youth employees, helping young people get educated early and start on the path to financial responsibility.
Flora Lucero, Financial Empowerment Programs Manager, highlighted the impact of the initiative, stating, “Through our strong coalition of partners, we’ve been able to meet our communities where they are and help folks get equal access to safe, affordable bank accounts.” Mayor Tim Keller reiterated the importance of financial empowerment, emphasizing, “Equal access to financial tools and resources is a critical step in building healthy, stable communities.”
Throughout Financial Empowerment Month, there will be various events across the city where Bank On Burque and its partners will be connecting with people and sharing more about the safe, affordable banking options available to them.
If you or someone you know needs access to safe, secure banking, please call 505-768-4588 or email [email protected].
