App Store Google Play
Launch will be closed Monday, Sept. 2nd for Labor Day   Learn More

Are Free Checking Accounts A Thing Of The Past?

Choosing the wrong checking account could end up costing you big money in fees. In fact, according to a report from WalletHub, choosing the wrong checking account could result in up to $750 in fees over the course of just one year. Just think about what you could do with an extra $750. You could take that vacation you have been dreaming of, pay off your high-interest debt, or even put that money towards your emergency fund. So why should you care about finding a low-cost checking account? This article will help you answer that question.

Why Checking Account Fees Should Matter To You

Can you believe that Americans are paying over $15 billion in bank fees each month? That seems crazy, doesn’t it?  Big banks are continually increasing the number of fees they charge to their customers. It is not just Bank of America, who recently announced that it would be charging certain customers a $12 monthly fee, unless they have a monthly direct deposit of $250 or more, or maintain a minimum daily balance of $1,500. Multiple big banks are following suit. This makes it harder than ever for consumers to find a low-cost checking solution that helps them improve their financial well-being.

The Case Against Big Banks

According to WalletHub, the less money you have in your account, the more checking-related fees you will incur at a big bank. This report found that the average consumer who lives paycheck to paycheck would incur over $450 in fees each year at a big bank. On the high end, a consumer living paycheck to paycheck could incur over $750 in annual fees. That is a lot of money. Your money. Luckily, you do have some options to help you keep your hard-earned money in your hands.

Free Checking Accounts Are Not Dead

Despite popular belief, free checking accounts are not a thing of the past. There are many financial institutions that still offer affordable checking accounts. WalletHub advises that consumers can save big money by switching their accounts from a big bank to a credit union, up to $387 per year to be exact. Sounds good, doesn’t it? So how do you go about finding that perfect Checking Account? Look no further than Launch CU.

Why Should You Consider A Launch CU Checking Account? Here’s a few things that set us apart from the competition…

  1. No Minimum Balance & No Monthly Service Fee
    Our goal is to make banking affordable for everyone. That is why we offer no minimum balance and no monthly service fee on our Classic Checking account. This means you can keep more of your hard-earned money in your account.
  2. Only $5 To Open
    We keep it simple. All you need to open your account at Launch CU is a $5 deposit.
  3. Free Access To Publix Presto ATMs
    Launch CU wants you to have access to your money when we are not open. This means having fee-free access to a large ATM network. At Launch CU, you can utilize any Publix Presto ATM, along with any of our branch ATMs fee-free!
  4. Upgraded Digital Banking Suite
    We understand the importance of having top-notch digital tools to help you manage your finances. That is why we upgraded the digital experience for our members. Our new Digital Banking Suite provides you with state-of-the-art technology, along with a seamless design across all of your devices. Our Digital Banking Suite also includes budgeting tools so you can manage your money better and save more. These tools are completely free for our members.

Why Choose Launch CU Over A Big Bank?

  1. Face-To-Face, Personal Service
    We understand that digital banking is not for everyone. At Launch CU, we pride ourselves on providing our members with one-on-one, face-to-face, personalized service every time they walk through the door. At Launch CU, you are more than an account number, you are a family member. This is something that is very hard to find at a large bank.
  2. Convenient Locations
    Launch CU has convenient branch locations throughout Brevard and Volusia Counties. We are also heavily involved with the schools, and have two school branches in Volusia County, one at University High in Orange City, and one at Spruce Creek High School in Port Orange. If you live, work, worship, or attend school in Brevard or Volusia County, you can join the Launch CU Family.
  3. We Will Never Stop Working For You
    Our purpose is to improve the financial well-being of our members. Since we do not have stockholders to please like big banks, our focus will always be on our members.
  4. Affordable Loan Rates
    We believe in providing our members with affordable financing. Our low loan rates, and affordable monthly payments help our members save money and pay off their debt faster. When you apply for a loan at Launch CU, we take the time to understand your specific financial situation so we can come up with a payment and term that works for you.
  5. Over 50 Years In The Community
    Launch CU was officially chartered in 1962, and we have been providing our members with quality and affordable financial products for more than 50 years. Several members of our staff have been with the credit union for 10, 20, and even 30 years. This helps display how dedicated we are to our members.

How To Become A Member At Launch  FCU

We would love for you to join the Launch CU Family. All you have to do to join is stop by any of our conveniently located branches to speak with a Launch CU Member Service Representative. If you have any questions pertaining to Launch CU Checking or Savings Accounts, please visit our website or call us today at 321-455-9400 (option 3). It is our mission to go beyond for you.

Related Posts

February 22, 2024
Smart Ways to Use Your Tax Refund If you're expecting a tax refund this year, consider smart ways to use your tax refund so you can set yourself up for financial success.
January 26, 2024
Watch Out for These Valentine’s Day Scams As Valentine's Day approaches, so does the number of online scams. We dive into the common scams you should look out for in February.
December 26, 2023
Goal Setting Strategies For the New Year Whether your goal is personal development, career advancement, or a healthier lifestyle, effective goal setting is the key to success.
Visit any branch location to open your account. For questions call 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard).
Back to top