Here at MCBC, the arrival of the holidays signal that it’s time to encourage participation in Basic Banking for Massachusetts in 2017! Participants must certify annually that accounts meet the Basic Banking for Massachusetts guidelines.
Celebrating its 23rd year in 2017, Basic Banking for Massachusetts was launched in 1994 to expand access to bank products and services and to encourage those with limited incomes to establish banking relationships. Basic Banking for Massachusetts has been cited as a national model of cooperation between community and financial leaders. During 2016, 101 banks and credit unions participated in the Basic Banking for Massachusetts program.
As we did last year, this year we are utilizing a green and efficient way for you to participate in Basic Banking for Massachusetts. The following materials are provided to assist you in signing up to participate.
- A link to survey monkey where you can report your participation on a secure server https://www.surveymonkey.com/r/BBM2017
- Basic Banking for Massachusetts guidelines
- Support letter from the Division of Banks;
- List of 2016 participating financial institutions
As in the past, there is no fee to participate in Basic Banking for Massachusetts! Additionally, all participating financial institutions will receive a letter confirming participation in Basic Banking for Massachusetts for the bank’s CRA Public File (Basic Banking accounts – sometimes called “lifeline” accounts – are a qualified activity under the CRA Service Test). Participating financial institutions will be listed in the Basic Banking for Massachusetts section of MCBC’s website at www.mcbc.info and will be invited to complete an institutional profile for MCBC’s searchable database on the Basic Banking website (www.basicbanking.org).
Please complete your certification on-line no later than Friday, January 20, 2017.
Questions? Please contact Dana LeWinter at (800) 982-8268 or email@example.com