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 Checking
Accounts
For most people, a checking account is the
foundation of their ability to complete financial transactions. Checking
accounts provide convenience, security, cost savings, and a great way to keep
track of your money. Whether you’re learning how to budget your money, looking
for extra perks, or enjoying retirement, Industrial Federal Credit Union has the
accounts that fit your unique needs.
Free Share Draft Checking
IFCU offers an interest paying totally free
checking account with unlimited check writing and no compensating balance. Your
IFCU Free Share Draft Checking earns competitive dividends on balances of more
than $2,500 (calculated daily and paid monthly). No minimum balance requirement.
No monthly fees. No check-writing limit. No hassles.
Regular Share Draft Checking
Worry free - nothing describes IFCU’s Regular
Checking account better. As long as your account balance remains at $350 or
greater, there’s no monthly fee. Plus, you can write as many checks as you like
because there are no per-check charges. But there’s more. Your IFCU Checking
account earns competitive dividends on balances of more than $1,500 (calculated
daily and paid monthly). Best of all, if you take advantage of Direct Deposit
for your entire paycheck, pension, government or Social Security check, you get
two free boxes of checks per year.
Additional Services For All Checking Accounts
IFCU stores your cleared checks on microfilm.
This reduces check processing costs and eliminates monthly fees associated with
returning your cancelled checks to you. If you should ever need a copy of a
cancelled check, just give us a call. For a nominal fee, we will order a copy
for you. In most cases, this takes only a day or two. Also, if you ever need a
large number of cleared check copies for the IRS or legal purposes, we’ll obtain
them all for you for a fixed fee of $10.
With IFCU Checking, you enjoy 24-hour access through our 19 ATM’s, SYBIL - the
credit union’s automated telephone teller, and Perfect Teller - the credit
union’s online banking program. For extra peace of mind, overdraft protection is
also available for your IFCU Checking account.
Direct Deposit
It’s convenient, safe and it’s free! It’s also
the quickest way for your government or payroll check to reach you. With Direct
Deposit your check is automatically deposited into your IFCU Checking or Savings
account. It’s that simple.
Best of all, when you Direct Deposit your payroll or government checks into your
IFCU Regular Share Draft Checking account, you get two boxes of IFCU style
checks per year - absolutely free!
For more information or to sign up for Direct Deposit of your payroll, pension,
Social Security, or government check, stop by any IFCU Member Center or call
765-771-8000.
Overdraft Privilege (ODP)
We know it happens sometimes. You make an error
on your checking account balance. Or your spouse forgets to record an ATM
transaction. Whatever the reason, you have an inadvertent overdraft. Ease your
mind (while avoiding extra fees) with Overdraft Privilege (ODP).
With ODP, you can avoid the embarrassment and inconvenience of a returned check,
as well as the fees normally charged to you by a merchant for checks returned to
them. This service is offered as an additional benefit of doing business with
IFCU.
How does ODP work? When you write a check that takes your account negative, we
will pay the check on your behalf up to the ODP limit ($300). You then deposit
the funds to cover the amount of the overdraft plus the ODP per item fee ($20).
ODP eliminates the cost and hassle of having checks returned to merchants.
If you would like more information about ODP, or to have this service added to
your account, visit your nearest IFCU member center today. Please note that ODP
is not a loan or line of credit. It is a discretionary service offered by IFCU.
VISA Check Card
It’s better than an ATM card, faster than checks
and more convenient than cash. The IFCU VISA Check Card can be used like a check
at more than 20 million locations worldwide (wherever you see the VISA or Plus
logo) or like an ATM card when you need cash.
ATM Access
Industrial Federal Credit Union has 20 automated
teller machines (ATM’s) in Lafayette and surrounding areas for your convenience.
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