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Mobile banking app used to build credit for the underbanked. Source: Shutterstock.

Four credit unions from Minnesota to Massachusetts have launched an app to provide free and completely online checking accounts to people who might otherwise have no banking services.

The name of the online service is Bank Dora Financial, or Dora for short, combining “bank” and cooperative-izing it by referring to credit union pioneer Dora Maxwell (1897-1985), who helped charter hundreds of U.S. credit unions.

Jim DuPlessis

A journalist for decades.

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