MCBC launches new basic banking website


BOSTON, MA – OCTOBER 19, 2011.
The Massachusetts Community & Banking Council (MCBC) announced today the launch of a new Basic Banking website (www.basicbanking.org) intended to assist new customers in finding a bank and bank products that best meet their families’ needs. 

The new website will allow customers to: 

  • Calculate the cost of having a checking account vs. using check cashing establishments 
  • Locate a financial institution near their home or job that offer Basic Banking accounts 
  • Learn how to select and open a checking account 
  • Compare the products and services provided by local financial institutions 
  • Connect with financial education information and resources.  

The website is available in both English and Spanish and can be translated into 52 other languages. The site includes information on bank products and services from 66 financial institutions that currently qualify under MCBC’s Basic Banking for Massachusetts program and that agreed to be part of this initial launch (see attached). In coming months, MCBC will invite participation by other qualified institutions. 

MCBC was established in 1990 to bring together community organizations and financial institutions to affect positive change in the availability of credit and financial services across Massachusetts. MCBC is funded through the financial support of member financial institutions. MCBC 2011 members include: Abington Bank, Avon Co-operative Bank, Bank of America, Boston Private Bank & Trust Company, Braintree Cooperative Bank, Cambridge Savings Bank, Central Bank, Chelsea Bank, Citi, Citizens Bank, Eagle Bank, East Cambridge Savings Bank, Eastern Bank, Everett Co-operative Bank, Fiduciary Trust company, HarborOne Credit Union, Hyde Park Savings Bank, Industrial Credit Union, Leader Bank, N.A., Mass Bay Credit Union, Medical Area Federal Credit Union, North Cambridge Co-operative Bank, People’s United Bank, Sovereign Bank/Santander, Stoneham Bank – A Cooperative Bank, TD Bank, The Bank of Canton and Winchester Co-operative Bank. MCBC’s 2011 Community Partners include: Chelsea Neighborhood Developers, Community Teamwork, Inc., DotWell, Dudley Square Main Streets, ESAC, the Fair Housing Center of Greater Boston, Interise, the Massachusetts Affordable Housing Alliance, the Massachusetts Association of CDCs, the Metropolitan Boston Housing Partnership, and the Somerville Community Corporation. Further information on MCBC and Basic Banking for Massachusetts is available on MCBC website at www.mcbc.info.