Choosing a Checking Account
A checking account is the primary reason many people choose a bank. Choosing (or updating) the right checking account to fit your financial style is important. Make sure your new account is compatible with your style and doesn’t cost you time or money.
Do your research and be honest with yourself. If you open an account that requires a higher minimum balance than you can maintain, or your financial habits aren’t the best -- make sure you won’t get slammed with excessive fees. Remember, the Credit Union is Member-owned and we keep our fees to a minimum compared to the 'big-box' banks
The only way to know which account is best for you is to understand your financial habits. Review your statements and analyze your activity. How many checks do you write per month, what is your ending balance, do you bounce checks, overdraw at the ATM, or at a point-of-sale (POS)? Then review any charges you incur and compare your current bank to CAHPCU and see how you might pay less or avoid such fees. And watch out for institutions that charge monthly service fees no matter how much you keep in your account.
If earning interest is important to you, then an interest bearing checking account may meet your needs. Keep in mind, this type of account generally requires a minimum balance or specified account relationship to earn interest.
On the other hand, if you use a checking account simply to write checks and you generally just keep enough to cover your bills, consider a free checking account. You may also qualify for free checking by utilizing direct deposit features or getting statements by e-mail. Ask us about our available checking options.
On the down side, bouncing checks can be very expensive, especially at national banks. Non-sufficient funds (NSF) fees help defray operational costs associated with bounced checks. If you have trouble balancing a checkbook and bounce even one or two checks per year, it may be worthwhile to ask about Overdraft Protection.
For more information, see our Fee Schedule.
ATMs also play a role when choosing a checking account. Through the CO-OP Network, you have access to over 25,000 ATMs nationwide. Find out what fees are charged if you use another institution's ATM.
And remember, all C.A.H.P. Credit Union accounts are privately insured for up to $500,000. Flexibility, convenience, and security is what Members get from CAHPCU checking accounts.
Understand Your Credit
