The Dime Bank News

The Dime Bank Opportunity Account Receives Certification

Today The Dime Bank announced that its Opportunity Account was officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2023 – 2024). The national safe account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality, and consumer safety.

Key features of The Opportunity Account include a monthly cost of only $5.00, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, and federal deposit insurance. The Opportunity Account is available at The Dime Bank‘s nine (9) branches located in Wayne, Pike, and Lackawanna Counties, Pennsylvania.

“We believe that everyone should have the opportunity to access safe and affordable banking through a trusted financial institution like The Dime Bank. Our staff are here to assist customers along the way to improved financial wellness,” stated Peter Bochnovich, The Dime Bank President and Chief Executive Officer. “We are proud to offer this certified account to help our customers learn responsible financial habits with confidence at low cost and low fees.”

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to The Dime Bank’s Opportunity Account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “The Opportunity Account offers Wayne, Pike, and Lackawanna County residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. The Dime 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 appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

The Dime Bank Opportunity Account is available at nine (9) branches in Pennsylvania. With the addition of the Opportunity Account, accounts that meet Bank On National Account Standards are now available at over 46,000 branches in all 50 states and Washington, DC; financial institutions with Bank On certified accounts already comprise over 56% of the national deposit market share. In addition to The Dime Bank’s Opportunity Account, there are over 300 other Bank On certified accounts available at financial institutions across the country. Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis through Bank On’s national reporting platform shows that these accounts are meeting consumers’ needs; since their offering, millions of consumers have opened Bank On certified accounts, with approximately 80% of them opened by consumers new to the financial institutions.

“I would like to congratulate The Dime Bank for attaining Bank On certification for its Opportunity Account. PA Bankers Association has been working with its member banks statewide since mid-2021 to increase the number of banks offering Bank On accounts in PA, and The Dime Bank becomes the 40th financial institution to offer a Bank On account in the state. We are grateful to The Dime Bank for its commitment to making sure all Pennsylvanians have access to safe and affordable banking products and services to improve their financial capability, health, and independence,” said Duncan Campbell, President & CEO, PA Bankers Association.

The CFE Fund leads the national Bank On movement, supporting almost 100 local coalitions working to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions, and community organizations. To learn more about Bank On and the National Account Standards click here, or follow the conversation on Twitter @CFEfund #BankOn

The Dime Bank Introduces My Credit Manager

Now you can access your credit score and report when you log into Online and Mobile Banking! My Credit Manager is a credit score and report monitoring tool which is FREE to The Dime Bank Online and Mobile Banking users. Utilizing My Credit Manager will help you understand, manage, and protect your credit.

Your credit score and report are available right now. Log in to your account and look for the My Credit scorecard in your dashboard. This free service helps you stay on top of your credit quickly and easily.

Knowing your credit standing is essential when you want to open a loan or credit card, but it’s also important to track changes to your score since it can alert you to suspicious activity. My Credit gives you the tools to help protect your financial health.  You’ll get 24/7 access to your credit report, a credit score simulator that estimates your score when you open new lines of credit, and resources to learn more about managing your score.  Take advantage of this free resource at The Dime Bank to keep on top of your credit score.