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4.23.2024 / Gateway Announcements

Gateway First Bank Receives National Certification by Banking Advocates as Offering a Safe, Affordable Personal Checking Account

Tulsa, Okla., April 22, 2024 The Cities for Financial Empowerment Fund (CFE Fund)has officially certified the Personal Checking Account offered to customers by Gateway First Bank as meeting the Bank On National Account Standards (2023 - 2024). The national safe account Standards designate 25 features for safe and affordable consumer transaction accounts that ensure low cost, high functionality, and consumer safety. The Standards were co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions.

Key features of the Gateway First Bank Personal Checking Account include no monthly service fees, no overdraft fees, free online bill pay, interest-bearing, a $25 minimum opening deposit and balance, and federal deposit insurance. The Personal Checking account is available in all of Gateway First Bank’s 10 banking centers across Oklahoma, and online account openings are available nationwide*. Nationally, nearly 450 Bank On certified accounts are available at financial institutions across the country. These are institutions who have received the Bank OnNational Account Standards Certification from the Cities for Financial Empowerment Fund.

“We believe that offering a simple, hassle-free personal checking account that is a low-barrier entry to having a checking account is good for the customer and the community,” said Scott Gesell, President of Gateway First Bank. “Statistically, individuals with bank accounts are more successful in increasing savings, decreasing debt, and building an emergency fund. We also know that having a bank account is a critical step towards building your credit, which is key to obtaining a loan for a car, home, or other major purchase.

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Gateway First Bank for their Personal Checking Account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “Gateway First Bank offers Oklahoma residents looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. Gateway’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”

The Federal Deposit Insurance Corporation’s (FDIC’s) most recent biennial survey of the unbanked estimates that there are currently 5.9 million households unbanked and 18.7 million underbanked individuals in the United States. 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 certified accounts are meeting consumers’ needs, with approximately 85% of Bank On-certified accounts opened by consumers new to the financial institutions.

Bank On's goal is to ensure everyone can access safe and affordable financial products and services. The Bank On National Account Standards identifies critical product features for appropriate bank or credit union accounts, making it easier for local coalitions nationwide to connect consumers to accounts that meet their needs. The CFE Fund leads the national Bank On movement, supporting 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.

*Deposit accounts are not available in the following states: Alaska, California, Georgia, Hawaii, Illinois, Maine, Massachusetts, Montana, New Hampshire, New York, Rhode Island, and Vermont.

About Gateway First Bank

Gateway, headquartered in Jenks, Oklahoma, is a leading financial institution that provides banking and mortgage services to individuals and businesses. Gateway is one of the largest financial institutions in the state, with assets totaling over $2 billion. In addition to its 10 banking centers in Oklahoma, Gateway has a strong national mortgage presence, with almost 100 mortgage locations and approximately 800 employees. © 2024 Gateway First Bank. Member FDIC. Equal Housing Lender. NMLS 7233.

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 $64 million to local governments and their partners to support these efforts. For more information, please visit 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 almost 100 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 for more information, or follow the conversation on Twitter @CFEFund #BankOn.


Media Contact:

Melissa Bogle 918-291-4654

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