A checking account is the workhorse of your everyday financial life. Through it, you can make deposits, withdrawals and debit card purchases—all of the typical transactions you make on any given day.
In addition, credit union checking accounts offer other benefits of which you may not be aware. Let’s take a comprehensive look at credit union perks to see if opening a checking account would be a smart choice for you.
Credit Union Benefits
As member-owned, not-for-profit cooperatives, credit unions are designed to put their members’ interests first. Unlike banks, credit unions are not driven by returning profits to shareholders. They pride themselves on getting to know their members and providing great service. At a credit union member, you’re not just a number—you’re part of a community.
Say Goodbye to Minimum Balances and Expensive Fees
Two notable perks many credit unions offer are no minimum balance requirements and nominal or no monthly fees. Other financial institutions often require a minimum daily balance (for example, $100), and if you dip below that amount, they charge you a monthly fee, which can be as high as $20.
In general, banks tend to have higher fees for certain services because they are profit driven. Since credit unions are not-for-profit organizations, they tend to charge fewer and lower fees.
Grow Your Money With Better Interest Rates
Credit unions also tend to offer better interest rates, including on checking accounts. At APGFCU, our High Yield Checking offers up to 4.00% APY1 on balances of up to $20,000 that meet required criteria.
Enhanced Security Features
In today’s world, you can never have too much security around your finances. APGFCU’s Member Protect Checking account offers multifaceted layers of protection to make sure your money and identity are safe, such as:
Identity Theft Recovery2
According to the Federal Trade Commission, identity theft comes in over 30 different types. This feature protects you and up to three generations of your family for both financial and non-financial identity theft.
Identity Theft Expense Reimbursement3
In the event your identity is stolen, this credit union checking perk covers out-of-pocket expenses you may incur while recovering your identity, up to $25,000, with no deductible.
Dark Web Monitoring4
This monitoring system alerts you if your personal information has been compromised by the Dark Web. It also provides secure online storage of your credentials so you can access your information if your purse or wallet is stolen.
High-Risk Transactions Monitoring4
This monitoring system alerts you if someone is using your identity to perform a high-risk transaction, such as account management changes, illicit password resets, and fraudulent money transfers.
Members Only: Special Discounts and Services
Other credit union checking account benefits include access to unique discounts and services, which are only available to members of our credit union community.
Special Services
Being a credit union checking account holder has its privileges. More perks of APGFCU’s Member Protect Checking include:
Cash Back: Members receive a 10¢ cash back reward on every debit card point-of-sale purchase.5
Mobile Device Protection: Provides cash reimbursement for repairs or replacements due to accidents or equipment failure.6
Three Bureau Credit Monitoring: Alerts you when new activity appears on your credit report, such as credit inquiries, new credit lines, derogatory credit, name changes or address changes.2
Credit Freeze Protection: Professionals help you freeze your credit report with the three major credit bureaus.
All APGFCU checking account holders enjoy access to a nationwide network of ATMs to use free of charge.
Don’t Worry, Your Account Is Insured
You might be wondering if credit unions have any federally backed insurance like traditional banks do. The answer is yes. Your share accounts are insured for up to $250,000 by the National Credit Union Administration.
Why Wait? Open an APGFCU Checking Account Today
At APGFCU, we’re here to help our members build wealth. Since 1938 we have been driven to provide exceptional member service that puts our members on the path to financial wellness. Our members trust us because they know we prioritize their needs over turning a profit.
Don’t wait—take advantage of our checking account perks and benefits today.
Read more about the benefits of our checking account here
1Annual Percentage Yield (APY) is valid as of the last dividend declaration date of 01-20-2025. If your account meets the criteria, you will earn 4.00% Annual Percentage Yield (APY) on balances up to $20,000 and 0.20% APY on balances of $20,000.01 and higher. Balances on accounts that fail to meet the account requirements for a given month will earn 0.05% APY. The rate may change after account opening. No minimum balance requirements. No minimum to open account. No monthly maintenance fees or penalties. Fees may reduce earnings on accounts. High Yield Checking is limited to one per member (per membership). To earn the higher rate, you must: (1) opt out of paper statements from APGFCU; (2) have qualifying, recurring monthly direct deposits totaling at least $200 per month into your High Yield Checking account; and (3) complete a minimum of 15 qualifying Point-Of-Sale (POS) purchase transactions per month using an APGFCU Visa Debit Card linked to the High Yield Checking Account. A qualifying Direct Deposit is a recurring electronic credit of your salary, pension, Social Security, or other regular monthly income deposited to your account by your employer or an outside agency. Transactions that do not qualify as a Direct Deposit include, but are not limited to, transfers from one account to another, deposits from an internet payment service, and deposits made at an ATM. To qualify, debit card transactions must process, post, and clear within the calendar month. Minimum transaction is $1.00. Debit card transactions may take one or more business days from the transaction date to post to an account from the date the transaction is made. Both PIN and signature POS transactions qualify. ATM transactions do not qualify. Membership eligibility applies.
2Identity Theft Protection policy limitations and disclosures provided to you upon account opening. Credit monitoring, report, and scores require activation and are applicable to individuals age 18 and older who have a valid credit file. Credit monitoring, reports, and scores are provided by TransUnion®, subject to change. Activation and identity authentication are required the first time you obtain your report and score, to set up monitoring, and to access your annual Tri-Bureau Credit report and score. The credit score provided may not be consistent with the credit score model used by a lender, and therefore cannot be relied upon to determine creditworthiness for any particular loan opportunity.
3Reimbursement Insurance is underwritten by Lyndon Southern Insurance, a member of the Fortegra family of companies. The information provided is a program summary. Please refer to the Identity Theft Expense Reimbursement Evidence of Coverage forms for additional information including details of benefits, specific exclusions, terms, conditions, and limitations of coverage. Coverage is currently not available to residents of the state of New York and may not be available in other U.S. territories or jurisdictions in the future.
4Monitoring services require activation. Membership eligibility applies.
5To qualify, debit card transactions must process, post, and clear within the calendar month. Minimum debit card purchase transaction is $1.00. Debit card transactions may take one or more business days from the transaction date to post to an account from the date the transaction is made. Both PIN and signature POS transactions qualify. ATM transactions do not qualify.
6 Mobile Device Protection has an annual benefit of $250 and a $50 deductible. Mobile Device Protection policy limitations and disclosures are provided to you upon account opening. No pre-registration is required and the benefit applies to both new and used cell phones and smartphones with a waiting period of 30 days after the coverage start date. You may file one claim per 12-month period. Certain terms, conditions and limitations apply to these benefits, so it is important that you carefully review the “Mobile Device Coverage Member Services Agreement” on our website.