Checking Accounts - Service Federal Credit Union (2024)

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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 many checking accounts can you have at a credit union? ›

There's no limit on the number of checking accounts you can open, whether you have them at traditional banks, credit unions or online banks.

What type of banking service is a checking account? ›

Checking accounts also allow you to make withdrawals by writing checks, accessing an ATM, using a debit card, or electronic transfer. Unlike savings accounts, which are designed for longer-term savings and may have limitations on withdrawals, checking accounts are meant for day-to-day financial transactions.

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

How do you know if a credit union is legit? ›

Enter the credit union's name and check the "Charter State" field. If the field says “CA,” your credit union is chartered in California. That means it is regulated by, and complaints can be filed with the California Department of Financial Protection and Innovation or DFPI.

What do credit unions call customers? ›

At credit unions, depositors are called members. Each member is an owner of the credit union. Since credit union members are owners, each member, regardless of how much money they have on deposit, has one vote in electing board members. Members can also run for election to the board.

Do credit unions affect your credit? ›

Because credit unions are not-for-profit, they can offer members numerous benefits that can directly and indirectly build an individual's credit score.

What is a weakness of a credit union? ›

Weaknesses of Credit Unions

Membership is restricted. The membership of a credit union is restricted to a specific community, most often a religion, profession, or geographic location. For a member to be eligible to join a credit union, they must belong to a group listed in the credit union's charter.

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

Credit Unions are the only democratically run financial institution. A federal credit union is member-owned and controlled. Member's interests are represented by a volunteer board of directors drawn from the membership and elected by the membership.

Which is safer to put your money in a bank or credit union? ›

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts.

What is the maximum amount you can keep in a checking account? ›

Minimum balances aside, how much money can you have in a checking account? There is no maximum limit, but your checking account balance is only FDIC insured up to $250,000. However, as we'll cover shortly, it makes sense to put extra cash somewhere it will earn interest.

Does closing a bank account hurt your credit? ›

The act of closing a bank account, such as a checking or savings account, does not directly affect your credit score. Your credit score is not directly affected by your checking and savings account activity. That includes account closures.

How much money can you have in your bank account without being taxed? ›

There is no specific limit or threshold that would cause the IRS to tax it. That being said, ant cash deposits of $10,000 or more would be reported by the bank in a Currency Transaction Report (CTR) to FinCEN, an arm of the Treasury Department.

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? ›

In fact, the technical term for a checking account is a "transaction account." The owner can usually withdraw from or deposit money into a checking account at any time. When you have a checking account, you can get a checkbook to write checks.

What are checkable accounts offered by credit unions called? ›

Credit unions refer to checking accounts as share draft accounts.

References

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