Inland Bank account meets affordability standards
OAK BROOK -- Inland Bank and Trust said its Foundation Account was officially certified by the national Cities for Financial Empowerment Fund for meeting certain quality and affordability standards.
The certification means the account meets the Bank On National Account Standards for the 2021-2022 year. The standards were created by consumer advocates, leading national nonprofit organizations, civic leaders and other financial institutions to designate core features that ensure low cost, high functionality and consumer safety.
Inland Bank's Foundation Account meets over 25 provisions for safe and affordable banking, including a $5 monthly fee, which is waived after one deposit within the same statement period; no overdraft or insufficient fund fees, no early close-out fee, the ability to pay bills and make purchases, and federal deposit insurance.
"Millions of American households do not have access to conventional and affordable banking solutions," said Tony Baeza, senior vice president of retail banking for Inland Bank. "Our participation in the Bank On program enables us to enhance our commitment to the communities we serve, which supports financial equity and inclusion for all."
Inland Bank has branches in Geneva, Glen Ellyn, Hawthorn Woods, Hillside, Lake Zurich, Lombard, Morton Grove, Villa Park and Wheeling.