Chequing Accounts
There is something comforting about writing a cheque to pay a bill, retire a debt, purchase a vehicle or take a trip. It puts you in control of the process and allows you to establish the timing of events. You may never want to see the cheque again, let alone a monthly statement, but, again, you control the process by the type of package you select. Your needs and circumstances are recognized in the wide selection of account offerings at CDCU.
Maximizer | Maximizer Plus | Maximizer Premium | U.S. Funds Account | E-Account
Golden Account | Standard Personal Chequing
Maximizer
Designed for members who prefer a fixed monthly fee and require monthly statements / cancelled cheques but have low transaction volumes. Benefits:
- Monthly package fee of $4.00
- Monthly fee waived if minimum monthly balance of $1000 maintained
- Free ATM transactions at credit union machines
- Free monthly statement
- Cancelled cheques returned
- Twelve transactions per month at no charge
- $0.60 per transaction over limit of 12
While the Maximizer Account does not pay any interest, members can avoid service charges by maintaining a minimum monthly balance of $1000.00 while, at the same time, conducting a limited number of transactions.
Maximizer Plus
Designed for members who prefer a fixed monthly fee but transact a larger volume of activity and utilize other services besides basic chequing. Features and benefits included:
- Monthly fee of $9.00
- Fee includes 40 transactions
- Transactions above the cap = $0.60 each
- Free Internet banking
- Free telephone banking
- Free money orders
- Free travelers cheques
- Free in-branch bill payments
- Monthly statements provided
- Cancelled cheques returned
- Free ATM usage at credit union machines
The Maximizer Plus account is ideal for members with low balances and high transaction activity.
Maximizer Premium
The ultimate in chequing convenience, this account has no limits on transactions and includes overdraft protection and other useful services as follows:
- Monthly fee of $25.00
- Unlimited transactions
- Personal cheques provided at no charge
- Free money orders
- Free travelers cheques
- Free stop payments
- Overdraft protection up to $500, O.A.C
- Free Internet banking
- Free telephone banking
- Free in-branch bill payments
- Monthly statements provided
- Cancelled cheques returned
- Free ATM transactions at credit union machines
Designed for people with a wide range of banking needs, limited balances and an extremely high volume of activity, the Maximizer Premium will have appeal to people who like to operate accounts without restrictions.
U.S. Funds Account
If you handle U.S. currency, receive payments from sources south of the border, or hold assets in the U.S., you can minimize exchange costs and save time by opening a U.S. Dollar Chequing Account. Features & benefits:
- No Monthly Maintenance Fee
- No fee for deposits
- Cheques cost $0.75(U.S.) each
- Interest paid on minimum monthly balance over $10,000
- Monthly statements and cancelled cheques provided
Deposits to this account may include cash, leftover travelers cheques, money orders/drafts or social security cheques. Withdrawals may be made in cash, traveler's cheques or drafts. Available as chequing account only, the U.S. Funds Account does not provide access to automated teller machines.
E-Account
For those people who prefer self-service transactions and are comfortable with technology, the E-Account provides an inexpensive flat rate alternative and the following features and benefits:
- Monthly fee of $10.95
- Unlimited electronic transactions
- Two free in-branch withdrawals per month, $1.25 each thereafter
- Free Interac transactions
- No charge to use any ATM
- Free MemberCard
- Free Internet banking
- Free telephone banking
For the growing number of members who prefer to conduct their banking from the convenience of their home, vehicle, office or wherever they have computer access, and who consider the time they save as a result to be of considerable importance.
Golden Account
Exclusive for members sixty years of age or better, in recognition of their contributions to the community and the credit union, Golden Accounts are designed to meet the unique needs of seniors at, or near, retirement. Benefits:
- Free money orders
- No commission on travelers cheques
- $5.00 rebate on safe deposit box annual fee
- Free drafts and official cheques
- Free in-branch bill payments
- No charge for Internet banking
- No charge for telephone banking
- No charge for first 40 transactions every month
- Transaction charge of $0.60 after the first 40 free entries
- Daily interest paid on minimum balances of $5,000 or more
- Free withdrawals at credit union ATMs
While cheques are permitted on Golden Accounts, many members use it as a combination chequing and savings account. Unless members have a very high volume of transactions, most services used by seniors are absolutely free.
Standard Personal Chequing
This old stand-by was designed for people who prefer to "pay as they go" and provides the following:
- Minimum charge of $3.00 per month
- ATM transactions at regular rates
- Each cheque cleared through account costs $0.60
- In branch withdrawals cost $1.25 each
This account will appeal to members with relatively low balances and limited transaction activity.
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