Reward Checking
Reward Checking
Our Reward Checking account offers high dividends with no minimum balance and no monthly service fee. With a minimum deposit of just $25, you can earn 3.25% APY*. If you’re looking for a convenient and rewarding checking account, look no further than Labor Credit Union’s Reward Checking. Open an account today and start earning high dividends on your balance.
Open an Account
With a $25 minimum deposit, you could start earning 3.25% APR* by simply
- Making 15 Debit Card transactions per month**
- Accessing your Online Banking – monthly
- Signing up to receive eStatements
- Providing a valid email address
Get More From Your Checking
- No Minimum Balance
- No Monthly Service Fee
- Free Debit Card
- Free Electronic Bill Pay
- Online Banking
- Access Audio Response by dialing (844) 874-7981
- Overdraft Protection Available
Stay Positive
With our busy lives, it’s easy to make mistakes such as forgetting to deposit a check, make a transfer, or deduct your last debit charge from your balance. A simple error or balance miscalculation can lead to an unexpected shortage of funds.
Have peace of mind knowing your checking account is covered when the unexpected happens. Your choices for Overdraft Protection include:
- Savings Transfer
- Overdraft Privilege
Choose which option works best for you!
Add Overdraft Protection to Your Accounts
Set up Overdraft Protection Transfer from another eligible Labor CU Share Account. In the event of an overdraft, available funds will be automatically transferred to your checking account to cover the overdraft.
- Transfer Limits – up to three (3) per month for Money Market.
OVERDRAFT PRIVILEGE
Even if you have Overdraft Protection, Overdraft Privilege is still available as additional coverage if your other protection sources are exhausted. Overdraft Privilege is not a Line of Credit; however, if you inadvertently overdraw your account, we will have the discretion to pay the overdraft, subject to your Overdraft Privilege.
- These options apply to checks and ACH transactions, and Labor CU can only pay overdrafts for ATM or everyday debit card transactions if you have given us consent to extend coverage for payment of these overdrafts.
- We will charge you a fee of up to $30 a maximum of three (3) times per day each day we pay an overdraft if your account is overdrawn more than $50.
We will not charge you a fee if your account is overdrawn by $50 or less on any given day. - There is a maximum of 3 Overdraft Fees and NSF fees per day on the total fees we charge you for overdrawing your account.
- You have a maximum of 45 days to bring the account back to positive status.
How to Opt In
If you would like to select this Overdraft Privilege Extended Coverage to cover ATM and everyday debit card transactions, simply complete this Opt In Consent Form and:
- Mail to PO Box 51, Merrifield, VA 22116
Return in person to one of our branch locations - Email your request to Opt In
- Call or text us your request to Opt In to (202) 789-2901.
Accounts will be charged the standard Overdraft fee of $30 for handling (3) overdrafts created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $30 for items returned. An overdrawn balance must be repaid within 45 days. We may not pay items under your Overdraft Privilege if you do not maintain your account in good standing by bringing your account to a positive balance within every forty-five (45) day period for a minimum of 24 hours, if you default on any loan or other obligation to DOLFCU or if your account is subject to any legal or administrative order or levy.
If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, Laborl Credit Union will charge a return item fee each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item Labor Credit Union may pay the item, and, if payment causes an overdraft, charge an overdraft fee.
For additional details about Reward Checking, email, visit a branch, text or call a Labor CU Financial Wellness Advisor at (202) 789-2901.
Meet Your Financial Wellness Team
*APY = Annual Percentage Yield and is accurate as of publication date. Minimum opening deposit to earn rewards $25.00. Fees may reduce earnings Reward Checking program fees, rates and features are subject to change without notice. Members meeting all of Rewards program criteria receive a refund of all foreign ATM fees.
**The 15 transactions must be posted before month-end.