Peoples State Bank announced that its Peoples Balance Banking account was officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2021–2022). The national safe account Standards co-created by consumer advocates, leading national non-profit organizations, civic leaders, and other financial institutions designate both core and strongly recommended features that ensure low-cost, high-functionality, and consumer safety.
Key features of Peoples Balance Banking account include no fees for overdraft or nonsufficient funds, the ability to pay bills and make purchases, coverage by federal deposit insurance, for a monthly cost of only $5. Peoples Balance Banking is available in every one of Peoples’ ten branches in Wisconsin.
“If you’re looking for an affordable account that offers convenient digital banking tools like our other checking accounts, Peoples Balance Banking may be the right fit,” said Jeffrey Saxton, vice president – retail group leader. “With a low monthly cost and no overdraft fees, it provides the customer peace of mind in knowing what to expect with the account, along with allowing them to access our digital banking services to manage their finances.
“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Peoples Balance Banking account,” said Jonathan Mintz, president and chief executive officer of the Cities for Financial Empowerment Fund. “It offers Wisconsin residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product — this is especially important as consumers need to access and manage their money both affordably and safely. Peoples State Bank’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”