Share Draft Checking Accounts in Hampden County LUSO Federal Credit Union 2016-08-15 14:18:16 Not Assigned
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Investment Rates Effective as of: August 14, 2017. Rates are subject to change without notice.

SHARE DRAFT ACCOUNTS IN HAMPDEN COUNTY

Our LUSO Share Draft accounts are just like a regular checking account, but with some important differences: your share draft account earns dividends. All you have to do is maintain a low minimum balance and we pay you dividends (interest) on the unused balance, just like your regular share account!

What is a Share Draft Checking Account?

A share draft is much like a check and will be accepted anywhere that a check can be used. Share draft accounts are the equivalent of personal checking accounts at banks, and a share draft is the equivalent of a personal bank check. Shares represent partial ownership in a credit union, and credit union members (shareholders) write drafts (checks) as a way to access their value of their partial ownership (shares).

Advantages of Share Draft Accounts

Share Draft Checking Account Products in Hampden County

  • Classic: 0.05% dividend rate, 0.05% annual percentage yield (APY). Free basic checks for life.
  • Smart Start: 0.25% dividend rate, 0.25% APY, free basic checks for life, ATM fees refunded up to $25.00 per statement.
  • Secure: 0.05% dividend rate, 0.05% APY, free basic checks for life; includes travel assistance service, identity theft restoration service, and accidental death/dismemberment insurance.
  • Preferred: 0.10% dividend rate, 0.10% APY, free basic checks for life, free debit card with rewards score card; includes travel assistance service, identity theft restoration service, accidental death/dismemberment insurance, and merchant discount EasySaver program.
  • Rewards: Up to 1.49% dividend rate and 1.50% APY depending on amounts; includes free basic checks for life and reimbursed ATM fees.
  • 60 Plus: 0.05% dividend rate and 0.05% APY, only for members 60 years or older; includes free basic checks, bank checks, money orders, and debit card with rewards score card.
  • Organic: 0.10% dividend rate and 0.10% APY; includes free online banking and bill payer access, and free debit card with rewards score card.

LUSO Federal Credit Union is a member-owned, not-for-profit financial cooperative that is dedicated to providing members with quality financial services and products. Feel free to contact our Ludlow branch toll free at 1-844-587-6328 or our Wilbraham branch at 1-800-808-5876.

Compare

Classic
Smart Start
SecurePreferredRewards**60 Plus***Organic

Compare

Classic
Smart Start
SecurePreferredRewards**60 Plus***Organic
Minimum
to Open
$10$10$10$10$10$10$10
Minimum to
Earn Interest
$500$500$500$500$10$500$500
APY*0.05%0.25%0.05%0.10%0.05%
to
1.50%ˆˆ
0.05%0.10%
Minimum
to Maintain
$10$10$10$10$10$10$10
Tiered
Interest
N/AN/AN/AN/A0.05%
to
1.49%ˆˆ
N/AN/A
Monthly
Service Fee
N/AN/A$3.95$6.95N/AN/AN/A
Free
Debit Card
CheckCheckCheckCheckCheckCheckCheck
eStatementAvailableAvailableRequiredRequiredRequiredAvailableRequired
Free Basic Checks for Life^CheckCheckCheckCheckCheckCheckN/A
Mobile
Banking
CheckCheckCheckCheckCheckCheckCheck
Remote
Deposit
Capture
CheckCheckCheckCheckCheckCheckCheck
ATM Fee RefundN/AUp to $25
per month;
ask for details
N/AN/AUp to $25
per month
N/AN/A

* APY = Annual Percentage Yield
** REWARDS” dividend rate qualifies with (12) debit transactions per statement cycle; a minimum of (1) direct deposit and/or ACH withdrawal per statement cycle; and, eStatement monthly electronic delivery. NOTE: If account fails to meet the ”Rewards” Share Draft Checking qualifications for 3 consecutive months, account will be automatically transferred to the Classic Share Draft Checking
*** Members MUST be 60 years of age or older to qualify
^ Restrictions apply
ˆˆ Based on qualifications

 

Our LUSO Share Draft accounts are just like a regular checking account, but with some important differences: your share draft account earns dividends. All you have to do is maintain a low minimum balance and we pay you dividends (interest) on the unused balance, just like your regular share account!

What is a Share Draft Checking Account?

A share draft is much like a check and will be accepted anywhere that a check can be used. Share draft accounts are the equivalent of personal checking accounts at banks, and a share draft is the equivalent of a personal bank check. Shares represent partial ownership in a credit union, and credit union members (shareholders) write drafts (checks) as a way to access their value of their partial ownership (shares).

Advantages of Share Draft Accounts

Share Draft Checking Account Products in Hampden County

  • Classic: 0.05% dividend rate, 0.05% annual percentage yield (APY). Free basic checks for life.
  • Smart Start: 0.25% dividend rate, 0.25% APY, free basic checks for life, ATM fees refunded up to $25.00 per statement.
  • Secure: 0.05% dividend rate, 0.05% APY, free basic checks for life; includes travel assistance service, identity theft restoration service, and accidental death/dismemberment insurance.
  • Preferred: 0.10% dividend rate, 0.10% APY, free basic checks for life, free debit card with rewards score card; includes travel assistance service, identity theft restoration service, accidental death/dismemberment insurance, and merchant discount EasySaver program.
  • Rewards: Up to 1.49% dividend rate and 1.50% APY depending on amounts; includes free basic checks for life and reimbursed ATM fees.
  • 60 Plus: 0.05% dividend rate and 0.05% APY, only for members 60 years or older; includes free basic checks, bank checks, money orders, and debit card with rewards score card.
  • Organic: 0.10% dividend rate and 0.10% APY; includes free online banking and bill payer access, and free debit card with rewards score card.

LUSO Federal Credit Union is a member-owned, not-for-profit financial cooperative that is dedicated to providing members with quality financial services and products. Feel free to contact our Ludlow branch toll free at 1-844-587-6328 or our Wilbraham branch at 1-800-808-5876.