Why You Need A Checking Account

Published on December 18th, 2018

Once you begin to work and have an income, you are faced with the question of where you should save your money.  While you may want to just open a Savings Account and keep your money there, don’t overlook a Checking Account. Many credit unions offer free Checking Accounts, which come with more benefits than just a place to keep your money.


Accessible Funds

Most Savings Accounts limit the number of transactions you can make per month. If you exceed this limit, you will end up paying a fee.  Checking Accounts, on the other hand, are transactional accounts and have no such transactional limitation.  At Leyden Credit Union, your Checking Account comes with several FREE services, including a Visa Debit Card, a Mobile App, and Online Bill Pay.  The debit card is part of the Co-Op Network, which means that you can make surcharge-free transactions at over 25,000 ATMs in the United States and Canada.  Savings Accounts don’t typically come with debit cards, meaning that it’s hard to physically get your money out.


Types of Checking Accounts

LCU offers several types of Checking Accounts to suit your needs.  First, there is our Basic Checking Account which has no minimum balance.  Basic Checking is FREE with a direct deposit of $300 or more per month.  Without a direct deposit, the fee is only $2.  Next, we have our Premier Checking Account, which is an interest-bearing account.  There is no monthly fee on this account; however, there is a $500 minimum balance.


Paying Bills

Many free Checking Accounts come with free online bill pay services. With online bill pay, you can pay all of your bills online and in one place. At Leyden Credit Union you are also able to set up automatic recurring payments, so you never miss paying a bill.


Don’t get caught paying a monthly fee at other banks or credit unions near Elmwood Park, stop by Leyden Credit Union to open your Checking Account today.

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