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News Now

CU System
CU partners with bank to tap D.C.s unbanked
WASHINGTON (12/28/11)--District Government Employees FCU, with $47 million in assets, has formed a partnership with two Washington D.C. groups that are urging commuters to use bikes instead of cars to relieve traffic congestion.

District Government Employees FCU partnered with Capital Bikeshares, a bike-sharing network, and Bank on DC, a public-private partnership that helps unbanked consumers open checking accounts (American Banker Dec. 27).

Capital Bikeshares automated stations do not accept cash. To check out a bike from a Capital Bikeshares station, a borrower must use a debit or credit card.

Bank on DC offers a $25 discount on annual Capital Bikeshares memberships to unbanked consumers who open accounts with District Government Employees FCU or United Bankshares.


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