Checking
Your checking account is a vital part of your everyday life.
At Transcend Credit Union, we offer the flexibility and convenience you need in a checking account to make your financial life easier. With a broad range of account options, and all the benefits you expect, we can show you how easy checking can be!
| Classic Checking |
Prestige Checking
(Dividend Bearing)
|
Roadmap Checking
(Ages 18-25) |
|
|---|---|---|---|
| Minimum Balance | No minimum balance required to open account. To avoid a monthly fee, please see above. |
No minimum balance required to open account.
To avoid a monthly fee, please see above.
|
No minimum balance required to open account. |
| Qualifications | N/A |
Direct deposit of at least $800 per month
Active1 Smart Cash Visa Debit Card
Active1 loan or Visa Prestige Credit Card
|
Must be 18-25 years of age |
|
ATM Access
|
Free unlimited access at all Transcend Credit Union ATMs plus no surcharges through MoneyPass ATM network | Free unlimited access at all Transcend Credit Union ATMs plus no surcharges through MoneyPass ATM network | Free unlimited access at all Transcend Credit Union ATMs plus no surcharges through MoneyPass ATM network |
| SmartCash Visa Debit Card | Free | Free | Free |
| e-Teller Online Banking | Free account access | Free account access | Free account access |
| e-Pay Online Bill Pay | Free | Free | Free |
| Mobile Banking (data and other wireless carrier charges may apply) | Free | Free | Free |
| Automatic Overdraft from member account | $5.00 per transfer | $5.00 per transfer | $5.00 per transfer |
| Check Printing | Priced according to style | Priced according to style | Priced according to style |
| e-Statements | Free | Free |
Free
|
| Monthly Fee |
$5 per month fee
NO monthly fee with:
-5 combined check/e- pay/debit card transactions per
calendar month. - Average daily combined deposit balance of $300 or more, or
- Loan or Credit Card, or
- Members under the age of 26 or over the age of 65, or
- First month account open
|
$5 per month fee
NO monthly fee with:
-5 combined check/e- pay/debit card transactions per
calendar month. - Average daily combined deposit balance of $300 or more, or
- Loan or Credit Card, or
- Members under the age of 26 or over the age of 65, or
- First month account open
|
No monthly fees for those ages 18-25
|
Prestige Checking
Current annual percentage yield as high as 0.25%. APYs are accurate as of the last dividend declaration date. Fees may reduce earnings on this account.
Rate Information
The dividend rate and annual percentage yield may change monthly as determined by Credit Union Management. Dividends are calculated using a tiered dividend rate based on the average daily balance. Your average daily balance for the month that corresponds to the applicable account balance tier will earn the stated dividend rate and be paid on the full account balance when all Prestige Checking requirements are met. The Regular Savings second tier rate will be paid monthly on any amount over $25,000 and will be paid on all balances if Prestige Checking requirements are not met.
Compounding and Crediting
Dividends will be compounded monthly on the average daily balance. Dividends will be posted to your account on the last day of every month.
Dividend Period
The dividend period for Prestige Checking is monthly. For example, the beginning date for the first dividend period of the calendar year is January 1 and the ending date of the dividend period is January 31. Posting date of dividends is the last day of the month. All other dividend periods follow this pattern.
Minimum Balance Requirement
No minimum balance is required to open this account. To avoid a monthly minimum activity fee, please see above.
Transaction Limitations
To avoid a monthly minimum activity fee, please see above.
Account Requirements
Prestige Checking requires that you have an active Transcend Credit Union loan or Transcend Credit Union VISA Prestige Credit Card, a Transcend Credit Union SmartCash VISA Debit Card, and have a paycheck, Social Security, retirement check, or other recurring check of $800 or more per month automatically deposited into your account. Your SmartCash VISA Debit Card must reflect a minimum of one transaction every 90 days. Your VISA Credit Card, if you have no loan with the Credit Union, must reflect a minimum of one transaction every 90 days. Repeated months of non-usage may disqualify you from having Prestige Checking and/or earning a Prestige bonus dividend.