Checking Accounts - Service Federal Credit Union (2024)

Checking for Wherever Your Path Leads

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CHECKING ACCOUNTS

Checking accounts make it easy to manage your finances

Your personal checking account is the hub of your financial life. Whether you write checks, use a debit card at the gas station or pay bills online, your checking account is where it all happens. At Service Credit Union, we believe personal checking should be just that—personalized to fit your needs. And with all our checking accounts, you can get paid up to two days early with direct deposit.*

Looking to move your direct deposit and automatic payments to Service Credit Union? ClickSWITCH can help make the process easy.

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Checking Accounts - Service Federal Credit Union (1)

Everyday Checking

Everyday Checking is our free checking account that offers three levels of benefits: Basic, Direct Deposit and Direct Deposit+. As your relationship with us grows, you’ll gain access to more features and benefits.

Everyday Checking Basic – At this level, you’ll enjoy:

  • Rewards on debit card purchases
  • Ease of online banking with mobile bill pay and remote check deposit**

Everyday Checking with Direct Deposit – Level up by setting up direct deposit of your net pay into your Everyday Checking account every month and enjoy everything included in Basic, plus:

  • Getting paid up to two days early with direct deposit*
  • .50% APR*** loan discounts on auto, personal, motorcycles and more.
  • Up to $15 a month in ATM surcharge and foreign transaction fee rebates****

Everyday Checking Direct Deposit+ – Maximize your benefits by setting up direct deposit of your net pay into your Everyday Checking account each month and make five or more payments or transactions per month to enjoy all the benefits of the previous levels, plus:

  • Getting paid up to two days early with direct deposit*
  • .75% APR*** loan discounts on auto, personal, motorcycles and more.
  • Up to $30 a month in ATM surcharge and foreign transaction fee rebates****

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Dividend Checking

Want to earn more? Open a Dividend Checking Account. It has all the benefits of our Everyday Checking accounts, but you’ll earn 0.15% APY in dividends on the first penny! (Please note, a $1,500 minimum daily balance is required to avoid a fee.)

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Checking Account Features

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Digital Wallet and Smartwatch Payments

Add your Service CU credit or debit card to your digital wallet for an easier way to pay. You can even add your info before your card arrives in the mail!

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International Bill Pay

Use International Bill Pay to pay foreign bills in local currencies all over the world.

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Share Transfer Overdraft Protection

Opt in to Share Transfer Overdraft Protection and avoid unnecessary fees from insufficient funds and protect your credit rating.±

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Courtesy Pay For Everyday Debit Card Transactions

If you opt-in, we will cover your Everyday debit and ATM transactions that may bring you negative. Transactions that are less than or equal to $15 will not be charged a courtesy pay fee.±±

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My Cards

Set spending limits and protect against fraud right from your mobile app.

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Visa® Debit Card

Easily make purchases directly from your checking account.

Service CU Member Reviews

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*Immediate credit of your direct deposit to your Service CU account up to two (2) business days early is based upon when we receive your payroll from your employer. Service CU cannot assume any liability for not depositing these funds to your account early. Must be a member of Service CU or establish membership with $5 in a Primary Savings Account.

**Must be 18 years old to deposit checks remotely. Members between the ages of 13 and 17 years old must have a parent/legal guardian accept the terms and conditions. Standard funds availability policy and other restrictions apply. Please see terms of use agreement for additional details. Checks deposited in real time are subject to Service Credit Union discretion.

***Loan Discounts do not apply to real estate, lines of credit, business loans, certificate or share secured consumer loans, or VISA loans. Discount will be applied to the APR that a member qualifies for based on creditworthiness and checking account tier. The collateral age and loan term may impact the APR offered. Members must maintain the checking account tier qualifications for the life of the loan in order to keep their loan discount. Discount conditions will be set forth in your loan contract. Floor rate may apply. Must be a member of Service CU or establish membership with $5 in a Primary Savings Account.

****ATM surcharge fees and foreign transaction fees will be rebated up to $15 a month for the Direct Deposit Checking Account tier and up to $30 a month for the Direct Deposit+ Checking Account tier. Excludes Basic Checking Account tier. Rebates will be applied to account on the first business day of the following monthly cycle that the rebate eligibility requirements were met. ATM surcharge fee rebates would apply to fees imposed by non-network ATM owners/operators.

*****Must be a member of Service Credit Union or eligible for membership with at least $5 in a Primary Savings Account. Dividend Checking earns .15% variable Annual Percentage Yield (APY). Rate is accurate as of 02/01/24. There is a monthly maintenance fee of $10.00, if the balance falls below $1,500.00 on any calendar day. The fee is assessed on the last day of the month. Please see our Fee Schedule for a full list of benefits.

±With your authorization, Share Transfer Overdraft Protection (S.T.O.P.) allows us to transfer money from a share account or multiple share accounts to cover any overdrafts in your checking account for a nominal fee. See theFee Schedulefor the fee amount. Transfers will be made in $100 increments.

±±A $19 overdraft fee will be assessed per presentment for the Dividend Checking account and Everyday Checking account. Courtesy pay is only permitted on one Checking account per membership. The checking account will not become eligible for Courtesy Pay until 30 days after the initial deposit to the checking account. Member must opt in to include everyday debit card transaction in Courtesy Pay. Fiduciary accounts including Trust, Estate and Escrow accounts are not eligible for Courtesy Pay. Everyday debit card and ATM transaction that are less than or equal to $15 will not be charged a fee even if the result is an overdraft. If the one time everyday debit card or ATM transaction that results in an overdraft is $15.01 or more, the $19 fee will be assessed, if you opt in. A fee may be imposed for covering overdrafts created by check, in-person withdrawal, Automated Clearing House (ACH) debits including International Bill Pay transactions, or by other electronic means. You may be charged a fee each time a transaction is presented for payment, even if the same transaction is presented for payment multiple times. You have 33 days to pay your negative balance before you will be considered no longer in good standing with Service Credit Union. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing or you have too many overdrafts. Overdraft transfers and fees are activated based on your available balance, which may be less than your current balance, depending on pending charges, holds and pledges on your account. Additional restrictions may apply.

Visa is a registered trademark of the Visa International Service Association.
Fitbit Pay is a trademark of Fitbit, Inc.
Garmin Pay is a trademark of Garmin Ltd.

Checking Accounts - Service Federal Credit Union (2024)

FAQs

What are checking accounts at credit unions called? ›

A checking account is also known as a “share draft account” at a credit union. These accounts serve your short-term cash needs as you deposit and withdraw money.

Does Service Credit Union text you? ›

Opt in to receive important messages from Service Credit Union regarding account updates and general information about our products and services. Service CU wants to ensure you don't miss out on important account updates or general information regarding our products and services.

Is it good to have a checking account with a credit union? ›

Credit unions tend to offer lower rates and fees as well as more personalized customer service. However, banks may offer more variety in loans and other financial products and may have larger networks that can make banking more convenient.

How much does it cost a bank to service a checking account? ›

A monthly service fee is a fee you pay each month to maintain your account, and many checking accounts charge them. These fees typically run between $5 and $15 per month.

What type of banking service is a checking account? ›

A traditional checking account, also referred to as a standard or basic checking account, offers the ability to write checks. It also provides access to a debit card that you can use to make purchases and withdraw cash at ATMs.

What are the three main checking accounts? ›

Overview of checking account types
Type of checking accountBest for…
Traditional checking accountAccess to physical branches
Free checking accountAvoiding monthly service fees
Business checking accountBusiness owners
Online checking accountPeople who are comfortable banking fully online
8 more rows
May 20, 2024

What are disadvantages of banking with credit unions? ›

Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass. May offer fewer products and services.

Why do people use credit unions instead of banks? ›

People choose banks primarily because of the convenience of multiple branches across the country, along with better technology. On the flip side, people choose credit unions primarily because of discounted loan rates, higher interest rates and better customer service.

What is the difference between a credit union and a federal credit union? ›

Key Takeaways

Credit unions are financial institutions providing banking services created, owned, and operated by their participants. Credit unions are not-for-profit enterprises that enjoy tax-exempt status. A federal credit union (FCU) is regulated and supervised by the National Credit Union Association (NCUA).

How do I avoid service fees on my checking account? ›

Here are some proven tips:
  1. Utilize free checking and savings accounts. Many banks still offer them.
  2. Sign up for direct deposit. ...
  3. Keep a minimum balance. ...
  4. Keep multiple accounts at your bank. ...
  5. Use only your bank's ATMs. ...
  6. Don't spend more money than you have. ...
  7. Sign Up for Email or Text Alerts.

How much money should you keep in your checking account? ›

The general rule of thumb is to try to have one or two months' of living expenses in it at all times. Some experts recommend adding 30 percent to this number as an extra cushion.

Why does my checking account have a monthly service fee? ›

Some banks and credit unions charge monthly maintenance fees just for keeping a checking or savings account open. There are usually ways to avoid these fees, but it usually entails tracking your balance, setting up direct deposit or meeting other requirements.

What are checking accounts also called? ›

A demand deposit account is just a different term for a checking account. The difference between a demand deposit account (or checking account) and a negotiable order of withdrawal account is the amount of notice you need to give to the bank or credit union before making a withdrawal.

What type of account is available at a credit union? ›

Regular and Money Market accounts, Certificates, and other plans available. Most credit unions offer at least one of the following accounts: free checking, prime-time checking, or interest-bearing checking. A wide variety of loan types including personal, auto, secured, home improvement, mortgage and credit cards.

What is the technical name for a checking account? ›

Checking Account

A demand deposit account subject to withdrawal of funds by check.

What are savings accounts at credit unions called? ›

If you use a credit union, you are the member of a nonprofit cooperative. Often, savings accounts are called share accounts, while checking accounts may be called share drafts. Banks may offer more diverse products and services to fit the needs of many different customers.

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