Mars Bank has launched the Perfect Fit Account, a digital-first product that includes free services for underserved customers.

Certified by the national Cities for Financial Empowerment Fund as meeting the Bank On National Account Standards, the new account provides for free a debit card with no fee access to more than 55,000 ATMs nationwide, online and mobile account access, mobile bill pay and person-to-person payments. The account has no overdraft fees, the bank said.

“As a community bank our goal is to help individuals, families and organizations reach their financial goals,” said Jim Dionise, Mars Bank president and CEO. “This account, along with our financial education resources, and the Perfect Fit Mortgage product for low-to-moderate income buyers are steps in our ongoing effort to meet the needs of our least-served community members.”

Mars Bank’s Perfect Fit Account is one of 185 nationally certified Bank On accounts and one of 25 in Pennsylvania.

According to the Federal Deposit Insurance Corporation, close to 5% of U.S. households (approximately 12 million adults) are “unbanked,” without a checking or savings account.

Almost 11% of U.S. households (approximately 24 million adults) are underbanked, meaning they still use some fringe financial services.

Nearly 34% of unbanked and 45% of underbanked households earn less than $30,000 per year.

Nationally, 48% of Black households and 42% of Hispanic households are unbanked or underbanked, compared to less than 14% of white households, according to the FDIC.

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, the bank said.

Information about the Perfect Fit Account is available at www.MarsBank.com.