ABNB Federal Credit Union has the checking account that fits your lifestyle!
Members now have a choice - interest paying, no monthly fee, debit card rewards, electronic checking, whatever suits their lifestyle and need!
Now Available:
eChecking -If you prefer handling most of your transactions electronically, this is the account for you. This FREE account saves you time in the branch AND gives you the added benefit of no monthly maintenance fee.*
Classic Checking - Simple. Affordable. Classic Checking gives you real benefits that start with only a $15 initial deposit.
Choice Checking - A convenient, affordable checking account with no inital deposit to open!
Premium Checking - Make more money - put dollars in an interest-bearing checking account. Receive a higher rate of dividends and greater value-added incentives.
Rewards Checking - A checking account that maximizes value by offering you exclusive rewards and benefits for keeping a higher balance!
*Must maintain eServices and eStatements in order to obtain FREE benefits.
Effective January 1, 2009
| Features | eChecking | Classic |
Choice |
Premium |
Rewards |
||
|---|---|---|---|---|---|---|---|
| Avg. Daily Balance | $0 |
$0 |
$1,000 |
$3,000 |
$0 |
||
| Minimum Balance to Open | $15 |
$15 |
$0 |
$0 |
$15 |
||
| Monthly Fee | $0 |
$5 |
$51 |
$101 |
$0 |
||
| Interest Checking | Y |
Y |
|||||
| Direct Deposit Required | Y |
||||||
| eServices Required | Y |
Y |
|||||
| eStatements Required | Y |
Y |
|||||
| VISA Check Card | Y |
Y |
Y |
Y |
|||
| VISA Check Card w/ Rewards | Y |
||||||
| Free Checks (ABNB Custom) | Y |
||||||
| Free Foreign ATM Fees - $1.25 | Y |
Y |
Y |
||||
| Free Wire Transfers - $15.00 | Y |
||||||
| Overdraft Fees | $27.00 |
$27.00 |
$27.00 |
$27.002 |
$27.00 |
||
| Courtesy Pay | $27.00 |
$27.00 |
$27.00 |
$27.002 |
$27.00 |
||
| Stop Payment Fee | $27.00 |
$27.00 |
$27.00 |
$27.002 |
$27.00 |
||
| Cashiers Check | $5.00 |
$5.00 |
$5.00 |
$0.00 |
$5.00 |
||
| Card Replacement | $5.00 |
$5.00 |
$5.00 |
$5.00 |
$5.00 |
*Annual Percentage Yield (APY) accurate as of 05/01/2010. Minimum to open account is $15. Rate tiers are as follows: 3.25% APY applies to balances of $.01 - $20,000 and 0.75% APY applies to balances over $20,000 as long as qualifications are met each statement cycle. 0.05% APY applies to all balances if qualifications are not met. Qualifications are as follows: 1) Make 12 check card purchases, 2) Enroll in eServices, and 3) Set up a recurring monthly direct deposit, ACH auto debit or ABNB administered bill pay. Rates may change after the account is opened. Fees may reduce earnings. No minimum balance required. No monthly service charge. Available to personal accounts only. **ATM refunds up to $25 per cycle when qualifications are met.
1 Monthly fee if minimum balance not maintained
2 One fee waived each month, fee will be charged after that.
NOTE: If the minimum requirements for eChecking are not met, the member will be defaulted to Classic.
Checking Account Disclosures:
Lifestyle Checking products apply to personal and fiduciary account ownership only.
Identification with picture and signature is required to validate information provided on membership application, otherwise, the account can not be opened.
As part of the account opening process, ABNB may run a check system agency report and credit report prior to opening the checking account.
Federal Reserve Regulation D restricts transfers from savings to no more than six (6) transfers per month. These transfers include overdraft transfers, pre-authorized ACH debits, telephone transfers and other electronic banking transfers.
Rate Information - The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. The Dividend Rate and the Annual Percentage Yield may change monthly or quarterly as determined by the credit union Board of Directors.
Nature of Dividends - Dividends are paid from current income and available earnings after providing for the required reserves. The Dividend Rate and Annual Percentage Yield are the prospective rates and yields that the credit union anticipates paying for the applicable dividend period. *See Footnote.
Compounding and Crediting - The Dividend Period begins on the first calendar day of the period. Dividends will be on the last calendar day of the credited Dividend Period. *See Footnote.
Accrual of Dividends - Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on non-cash deposits (e.g., checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid, except for Certificates.
Balance Information -Dividends are calculated using the Average Daily Balance Method which applies a periodic rate to the Average Daily Balance in the account for the Dividend Period and dividing that figure by the number of days in the period. The Average Daily Balance is calculated by adding the full amount of each day of the dividend period and dividing the figure by the number of days in the period.
