Bank On Louisville Celebrates PNC’s Achievement as First Bank to Offer Two Bank On Certified Accounts

Bank On Louisville celebrates PNC’s achievement as first bank to offer two Bank On certified accounts
National certification indicates PNC’s accounts meet more than 25 features for safe, affordable consumer transaction accounts

LOUISVILLE, KY (August 12, 2021) – Bank On Louisville is proud to recognize PNC as the first bank to offer two products that meet the Cities for Financial Empowerment Fund (CFE Fund)’s Bank On national certification

Both the PNC Foundation Checking and PNC SmartAccess® Prepaid Visa® Card accounts meet more than 25 national standards developed to ensure expanded access to safe and affordable financial products and services to the almost 36 million people in the United States who are outside of the mainstream financial system.  Bank On’s 2021-2022 Standards require low-cost, no overdraft, and full-functioning features.

The National Safe Account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality and consumer safety.  Bank On Louisville works with financial institutions, community organizations, local government leaders and federal regulators to connect Louisville residents to safe, affordable, and productive banking accounts. PNC is a founding participant of Bank On Louisville and continues to support the city’s program.

“PNC Bank is a longstanding partner and supporter of our financial inclusion work in Louisville,” said Erin Waddell, Co-Chair of Bank On Louisville.  “We are absolutely thrilled that PNC joins only five other institutions in Louisville who have adopted the Standards and demonstrate a strong commitment to making banking accessible and affordable for all.”

PNC Bank joins Chase Bank, Citi Bank, Old National Bank, Truist Bank and U.S. Bank in offering certified accounts available in Louisville.

A hallmark of PNC’s Foundation Checking account is a money management course that is now available on mobile devices as part of the account on-boarding experience. Foundation Checking also offers low-balance alerts, and no overdraft or non-sufficient funds fees. A nominal $5 monthly service charge is waived for customers age 62 or older. Similarly, SmartAccess includes a mobile app, low-balance alerts, no overdraft fees and no fees for cashier’s checks.

“As a long-time supporter of the city’s Bank On program, PNC is committed to providing banking services for customers who may not have had access to traditional checking accounts in the past,” said Chuck Denny, PNC regional president for Louisville. “Now, community members have an added level of peace of mind and access to a cost-efficient solution for entering or re-entering the mainstream banking system that reflects our focus on helping all customers move forward financially.”

“The Cities for Financial Empowerment Fund is delighted to provide Bank On’s national certification to PNC Banks’ Foundation Checking and SmartAccess accounts, making it the first financial institution in the country to offer two nationally certified products,” said Jonathan Mintz, president and chief executive officer of the Cities for Financial Empowerment Fund. “Particularly during this pandemic, a safe, affordable, and truly useful mainstream banking product in which to electronically deposit stimulus payments and from which to remotely pay bills is more important than ever. We applaud PNC’s decision literally to double down on its commitment to offering Bank On certified accounts.”

The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify critical product features for bank or credit union accounts making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

With the addition of PNC’s Foundation Checking and the SmartAccess® Prepaid Visa® Card that was certified last December, accounts that meet Bank On National Account Standards are now available at over 32,500 branches in all 50 states and Washington, DC; financial institutions with Bank On certified accounts already comprise almost 50% of the national deposit market share. In addition to the Foundation Checking and SmartAccess® Prepaid Visa® Card, more than 90 other Bank On certified accounts are available across the country. Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis through Bank On’s national reporting platform shows that these accounts are meeting consumers’ needs; since their offering, millions of consumers have opened Bank On certified accounts, with approximately three quarters of them opened by consumers new to the financial institutions.

The CFE Fund leads the national Bank On movement, supporting 85 local and state coalitions across the country working to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions, and community organizations. To learn more about Bank On and the National Account Standards click here, or follow the conversation on Twitter @CFEfund #BankOn.

About Bank On Louisville
Launched in 2010, Bank On Louisville is a collaborative partnership between local government, financial institutions and community organizations that work to improve the financial stability of unbanked and underbanked residents in our Louisville community. To date, Bank On Louisville has helped connect more than 43,000 residents to safe and affordable bank accounts and connected more than 25,500 residents to quality financial education. Visit for more information.

About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC).  PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit

About the Cities for Financial Empowerment Fund (CFE Fund)
The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 100 cities and counties, and has disbursed over $52 million to local governments and their partners to support these efforts. For more information, please visit or follow us on Twitter at @CFEFund.

About Bank On
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 help improve the financial stability of unbanked and underbanked individuals and families in their communities. The Bank On national initiative builds on a grassroots movement of over 85 coalitions in communities across the country, offering National Account Standards, capacity grant support, pilot funding, and a learning community. In addition to connecting unbanked individuals to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit for more information, or follow the conversation on Twitter @CFEFund #BankOn. 

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