LifeStore Bank "Progress Account" Receives National Certification by Banking Advocates as Safe, Affordable Account

The cities for Financial Empowerment Fund’s Bank On National Account Standards Certification of “Progress” indicates that it meets over 25 features for safe and affordable consumer transaction accounts.

West Jefferson, NC – This week LifeStore Bank announced that its Progress account is one of over 100 accounts officially certified by the National Cities for Financial Empowerment Fund (CFE) as meeting the Bank On National Account Standards. The national safe account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions, designate features that ensure low cost, high functionality, and consumer safety.

Judy Current, Director of Marketing and Strategic Growth with LifeStore Bank commented: “LifeStore Bank is proud to be part of the #BankOn movement. We have been working with the communities we serve to develop an account to serve those without a bank account and expand banking access in the North Carolina High County. We believe having a bank account is a foundation to financial security and LifeStore Bank is the first community bank in North Carolina to be certified.

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to LifeStore Bank’s Progress account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. Progress offers High Country residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product– this is especially important during COVID-19, as consumers need to access and manage their money both affordably and safely. LifeStore Bank’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”

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 accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs. These accounts are safe and affordable with no overdraft fees, a low monthly fee, and offer tools to help manage your money.

LifeStore dates back to 1939 when its founders saw the need for a local building and loan association to help people purchase or build new homes. Today LifeStore Bank operates four full-service bank locations in Ashe and Watauga Counties offering a wide range of banking and lending products for your home and business.