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Map showing the location of the underbanked population. Source: Shutterstock.

A California credit union serving more than 84,000 has launched a pair of new products aimed at helping consumers build a credit profile and access mainstream financial products, joining a wider initiative in Los Angeles to make services available to unbanked and underbanked individuals.

Financial Partners Credit Union is offering the EZ Card, which the institution bills as a “checkless” checking account. The accounts are free of overdraft charges, the credit union said, and monthly fees are waived when consumers make monthly deposits of at least $100 or use the EZ card for purchases at least 10 times a month.

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