Building stronger financial futures for New Mexico residents.
Bank On New Mexico works to ensure that everyone has access to a safe, affordable bank or credit union account.
Led by the nonprofit Prosperity Works, Bank On New Mexico is a collaboration between banks and credit unions, nonprofit and community organizations, and government agencies to ensure that consumers have access to Bank On certified accounts. Together, we are working to encourage economic equity and expand access to safe and affordable accounts.
“A key requirement for economic prosperity is access to a safe and affordable transactional financial account. Prosperity Works has supported thousands of New Mexicans to access financial accounts to build assets over the past 20 years. We are very excited to expand our asset building work through the development of the Bank On New Mexico Coalition.”Ann Lyn Hall, Chief Executive Officer of Prosperity Works
4.5%
Unbanked Households Nationwide
14% Underbanked Households Nationwide
58,380
Unbanked New Mexico households
12% Native households, 10% Hispanic / Latinx households, 9% Black households, 5% Other households, 2% Asian and 2% White households
7%
Unbanked New Mexico Households
17% Underbanked New Mexico Households
BANK ON CERTIFIED ACCOUNTS ARE
Safe
These accounts do not allow overdraft or non-sufficient funds fees, so you’ll never be hit with a surprise fee.
Low Cost
Certified accounts are $5 or less per month, with no unpredictable fees.
Functional
Certified accounts always allow free deposits, free withdrawals, and free bill payments.
Our Coalition
Join us in connecting New Mexico residents to safe and affordable banking products.
Bank On New Mexico coalition members are working together to ensure that all households have access to safe and affordable bank accounts that meet their needs, allows them to increase assets, and strengthen their financial stability.
Featured Resources
New Mexico ranks third on the top 10 worst states for banking access
New Mexico ranks third on list of top 10 worst states for banking access. Read in the ABQ Journal here.
Prosperity Works Awarded Fellowship to Expand New Mexico Banking Access
Press release announcing Bank On Fellowship award to Prosperity Works. Read the full press release here.
Overdraft fees add up to $36 burgers?!
The impact of overdraft fees on vulnerable populations. Read more in the ABQ Journal.