Free Checking Account
Our “Free Checking” account is free of monthly account fees; free of conditions; free of a minimum monthly balance, and free of transaction fees at 30,000 local and nationwide CO-OP ATMs (including over 2,100 in SoCal). Interest is earned on balances over $10,000.
How to Get a Free Checking Account
To open a LAFCU Free Checking account, you must have already opened a LAFCU Share Savings account. A “ChexSystems” and hard-hit on your credit will be run.
Free to Do More
Having a Free Checking account lets you:
- Enjoy our free mobile app
- Mobile check deposit,*
- Free online and mobile banking
- Free account alerts
- Free automatic transfer to pay loans
- Free debit card
- Free mobile wallet apps to conduct contactless transactions safely.
“Connect” is a paperless account with the flexibility to choose how you conduct your daily transactions.
Features and Benefits
• No overdraft or NSF fees
• No inactivity or early account closure fees
• No paper checks
• Low monthly $5 fee (waived with a single direct deposit or debit card transaction during the month)
• Free online statements (or paper statements for a monthly fee)
• Access to debit card, mobile app & online banking, Zelle® P2P, bill pay, mobile deposit, & online statements
• Access to ATMs, branches & nationwide shared branches
• Free of transaction fees at 30,000 local and nationwide CO-OP ATMs (including over 2,100 in SoCal)
• No minimum balance
• Earns dividends with a balance of $10,000 or more
Open Connect if you:
• Have yet to qualify for our Free Checking account
• Prefer to not have Overdraft or NSF fees. Items will be paid based on available funds and transactions exceeding available funds will be returned without any fees.
• Do not use paper checks
• Are okay setting up direct deposit or making one monthly debit card transaction to avoid the Connect maintenance fee
• Don’t need Courtesy Pay (if you had this service, for a fee, items get paid when there’s not enough funds in your account)
LAFCU’s online Financial Calculators can help you manage your budget, help with your savings goals, calculate auto loan payments, pay off credit card debt, see if a mortgage refinance makes sense for you, and much more.
LAFCU Free Debit Card:
* To qualify for Mobile Check Deposit, you must have an online banking profile, and have either an Android-powered smartphone or iPhone and have installed the Mobile application. Your endorsement must include your signature and the words "For Mobile Deposit at LAFCU." If the back of the check is not properly endorsed, we reserve the right to reject the check for deposit. Our policy is to make funds from your check deposits available to you on the first (1st) business day after the day we receive your deposit. The total amount of deposits made (less any holds that apply according to our Funds Availability Policy, up to your available deposit limit), will be immediately credited to your account. In some cases, longer delays may apply and we will not make all of the funds that you deposit by check available to you on the first (1st) business day after the day of your deposit. Mobile Deposits are subject to change and are limited based on your Relationship Rewards level at LAFCU.