First Financial NoWorry Checking Account Achieves National Bank On Certification for Being Safe, Affordable

Rhea-AI Summary

First Financial Bank (Nasdaq: FFBC) has received national Bank On certification for its NoWorry Checking account, validating its compliance with the 2021-2022 Bank On National Account Standards. This account features no overdraft fees and no minimum balance requirements, enhancing banking accessibility in Ohio, Indiana, Kentucky, and Illinois. The certification underscores the bank's commitment to improving financial access, particularly for unbanked populations. With $16.0 billion in assets and community initiatives, First Financial aims to elevate financial education and services in low-income areas.

Positive

• Achieved Bank On certification for NoWorry Checking account, enhancing credibility.
• Offers no overdraft fees and no minimum balance, improving accessibility.
• Expanded banking centers in low-to-moderate income areas, indicating growth strategy.
• Engaged in community collaborations to foster financial literacy.

Negative

• None.

CINCINNATI, Nov. 18, 2021 /PRNewswire/ -- First Financial Bank (Nasdaq: FFBC) announces its NoWorry Checking account has received national Bank On certification from the Cities for Financial Empowerment (CFE) Fund for meeting Bank On National Account Standards for 2021-2022. These standards require over 25 features for safe and affordable consumer transaction accounts.

NoWorry Checking has no overdraft fees or minimum balance requirements, and is available throughout First Financial's four-state service area of Ohio, Indiana, Kentucky and Illinois.

"First Financial's NoWorry account exemplifies our commitment to help communities thrive, because it improves access to banking for people who may be outside of the mainstream financial system or otherwise unable to open a bank account," said Archie Brown, president and CEO, First Financial Bank. "A bank account is critical to help individuals improve their financial well-being. Bank On certification demonstrates First Financial's intention to offer our clients accounts that will help them move forward toward a better financial future."

The Bank On National Account Standards were developed by consumer advocates, leading national nonprofit organizations, civic leaders and other financial institutions, and identify critical product features for banking accounts to include to ensure low cost, high functionality and consumer safety. Bank On certified accounts can be used to receive and manage the federal Child Tax Credit and other emergency payments.

"The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to First Financial's NoWorry Checking Account. First Financial's offering of this terrific account brings them into the forefront of national banking access efforts, for which we thank them," said Jonathan Mintz, president and chief executive officer of the CFE Fund. "This account offers 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."

Bank On certification is one of several steps First Financial is taking to help clients and residents improve their financial health. First Financial participates in Bank On coalitions in Louisville, Bloomington and Northern Indiana. These are collaborations between financial institutions, community organizations and local governments to help residents access mainstream financial services and education. 

First Financial has expanded access to banking services by opening five banking centers in low- to moderate-income communities across its footprint, more than halfway toward its Community Investment Plan goal of adding eight new locations.

Earlier this year, First Financial expanded its personal lending program by participating in the Upstart Referral Network to increase access to unsecured lending solutions.

First Financial is also collaborating with the National Underground Railroad Freedom Center on a new financial literacy series to increase access to financial education in the communities it serves and address wealth disparity.

About First Financial Bancorp.
First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of September 30, 2021, the Company had $16.0 billion in assets, $9.4 billion in loans, $12.7 billion in deposits and $2.2 billion in shareholders' equity. The Company's subsidiary, First Financial Bank, founded in 1863, provides banking and financial services products through its six lines of business: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance and Wealth Management. These business units provide traditional banking services to business and retail clients. Wealth Management provides wealth planning, portfolio management, trust and estate, brokerage and retirement plan services and had approximately $3.2 billion in assets under management as of September 30, 2021. The Company operated 139 full service banking centers as of September 30, 2021, primarily in Ohio, Indiana, Kentucky and Illinois, while the Commercial Finance business lends into targeted industry verticals on a nationwide basis. Additional information about the Company, including its products, services and banking locations, is available at www.bankatfirst.com.

About the Cities for Financial Empowerment Fund (CFE Fund)
The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 100 cities and counties, and has disbursed over $55 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund.

About Bank On
Bank On coalitions are locally-led partnerships between local public officials; city, state, and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. The Bank On national initiative builds on a grassroots movement of over 90 coalitions in cities across the country, offering national account standards, capacity grant support, pilot funding, and a learning community. In addition to connecting unbanked individuals to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit www.cfefund.org/bankon for more information, or follow the conversation on Twitter @CFEFund #BankOn.

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SOURCE First Financial Bancorp.