Checking


Checking Accounts

A checking account with Monroe Telco FCU offers you value and an easy way to manage your finances. We offer many features and benefits that are convenient and time saving for our members.

  • No monthly service charge
  • No minimum balance required
  • Dividends earned each month on balances of $300.00 or more
  • Detailed monthly statements
  • ATM accessibility - ours or others
  • Free Visa debit card
  • Direct deposit/payroll deduction
  • Overdraft protection
  • Overdraft services (some restrictions may apply)

Overdraft Protection

With Overdraft Protection, if an item tries to clear your checking account, and the funds are not available, the credit union will automatically transfer these funds, in $5.00 increments, from the savings account to cover the check. There is a charge of $1.50 each time Overdraft Protection is used.

  • Eliminates the embarrassment of having your items returned or declined
  • Applies to checks, debit card items, pre-authorized automatic debits, telephone initiated transfers, online banking  transactions or any other electronic transaction
  • There is a $1.50 fee each time it is used
  • Avoids the fee of having a check returned
  • For ATM and one-time debit transactions, you must consent to the credit union's overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the credit union may not authorize and pay an overdraft resulting from these types of transactions.
  • The circumstances under which the credit union will not use Overdraft Protection is if there is not enough money available in the savings account to pay the item or if the credit union elects to return the item due to holds/restrictions on the account.

Overdraft Privilege

Overdraft Privilege is designed to protect the member against returns by the credit union. It helps to guard members against having an item returned due to insufficient funds. If an item tries to clear your checking account and the funds are not available, the credit union will clear the item by allowing the account to go into a negative status. With this service, we will pay your items up to a set, privileged limit for a $28.00 fee.   

  • New checking accounts will receive Overdraft Privilege after 60 days in good standing
    (some restrictions may apply)
  • Limit up to $500.00 upon qualification
  • Applies to checks, debit card items, pre-authorized automatic debits, telephone initiated transfers, online banking  transactions or other electronic transactions.
  • Allows 30 days from 1st date your account is overdrawn to clear up the negative balance
  • Eliminates additional fees charged by merchants for returns
  • For ATM and one-time debit transactions, you must consent to the credit union's overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the credit union may not authorize and pay an overdraft resulting from these types of transactions

Visa Debit Cards

Your MTFCU debit card allows you to make purchases by eliminating the hassle of writing checks. The amount you purchase is automatically deducted from your checking account. You can also withdraw money from ATMs or get cash back at the time of a purchase. Monroe Telco's check card is convenient and is accepted nationwide.  

  • Great for travel - eliminates the need for carrying large amounts of cash
  • No monthly fee or Point of Sale transaction fee
  • Ability to withdraw cash from Culiance Network ATMs surcharge free. For a list of available ATMs, go to https://www.culiance.com/nopremiumnoselect/
  • Fee-free withdrawals from Monroe Telco FCU ATMs
  • Limited liability for unauthorized purchases in stores, on the phone or online when used as a signature based purchase
  • 24-hour fraud monitoring services at no charge
 
Culiance ATM Network
 


To report your VISA check card lost or stolen, please call one of the following numbers:

During business hours: 318-397-4243
After business hours: 800-472-3272


Prepaid Reloadable Visa Debit Cards

The CUMONEY prepaid debit card can help teach your young adult how to manage their finances. Accepted worldwide, it offers more flexibility than college-issued campus cards. Unlike credit cards, CUMONEY isn't a line of credit. Your child can only spend the amount of money on the card and no checking account is required.

  • Accepted everywhere Visa is accepted
  • Pre-funded to help you manage your money
  • Track spending and add more funds with the online management tool. Simply go to www.cumoney.com to reload the debit card.
  • Eliminate being overdrawn and overdraft fees
  • Card is not linked to an account, so there is less risk if lost or stolen

Click here for a comparison chart of prepaid reloadable debit cards.


Member Account Reconciliation

If you need assistance reconciling your account, we can help! By reconciling your account, it will reduce the risk of overdraft and courtesy pay fees. We are here to insure that you have the correct balance, which can help you stay within your budget and eliminate unnecessary fees. For a small fee, the staff at Monroe Telco FCU can help you solve any discrepencies that you may have.