Products & Services - Checking Accounts

Products & Services | Savings Accounts | Checking Accounts | Loans | Other Services | Online Account Access

Premier Checking Account

At Policemen's Federal Credit Union, we don't need to offer a variety of checking accounts. All the features and benefits you're looking for can be found in PFCU's Premier Checking Account.

The advantages of PFCU's Premier Checking Account include:

  • No minimum balance
  • No monthly fees
  • Dividends are paid on daily balances over $250
    • Dividends are paid monthly on your daily balance
  • No restrictions on the number of share drafts you can write
  • No per check charge

Additional PFCU Premier Checking benefits:

  • The Premier Checking Account features a VISA check card which allows debit and credit transactions everywhere VISA is accepted. This card also serves as an ATM access card.
  • Convenient ATM access to your PFCU Premier Checking Account is available at PFCU's three local ATM stations, all Credit Union Center shared branch ATMs in Indiana (over 150) and all Alliance One ATMs (over 4500 nationwide) without incurring ATM charges.

    Click on the links below for location information:
  • Overdraft privilege is available from your Primary Share Savings Account or Line of Credit Accounts.
  • Quick Draw Overdraft Protection is available to qualified members.
  • 24-hour access to your account via "Sybil" the audio teller or "Perfect Teller" home banking.
  • Members age 60 and over receive two free boxes of standard checks per year.

Direct Deposit into your PFCU Premier Checking Account offers additional money saving opportunities you don't want to miss!

Money Market Accounts

PFCU's Money Market Accounts offer members with higher balances an alternative to the standard share accounts!

  • The minimum balance to open and qualify for dividends is $10,000.
  • Dividends are paid monthly.
  • Dividends are paid based your account balance according to the following tiers:
    • $10,000 to $24,999
    • $25,000 to $49,999
    • $50,000+
  • PFCU provides your initial 50 checks free!
  • Withdrawals are limited to six free per month; withdrawals over six per month are assessed a $3.00 fee.
    • Withdrawal transactions include: Electronic withdrawals or transfers, cash withdrawals, and / or check withdrawals.
  • No dividends are paid for any day the balance falls under the $10,000 minimum balance.
  • A monthly fee of $5.00 will be assessed for any calendar month in which the balance drops under $10,000.
    • The maximum fee is $5.00 per month; fee is not driven by the number of days the balance is below $10,000.

Direct Deposit

Members with Direct Deposit of their payroll check or Social Security check into a PFCU Premier Checking Account are qualified for discounts on loans and premiums on certificates.

Utilizing Direct Deposit may also qualify you for Courtesy Pay which protects members against inadvertent overdrafts and the costs associated with returned checks.

  • Members with Direct Deposit receive two free boxes of standard checks per year.
  • Traveler Check fees are waived for members with Direct Deposit.
  • Direct Deposit into a PFCU Premier Checking Account is safe and convenient and makes funds available without a trip to the office.

With PFCU's help, switching the Direct Deposit of your payroll or Social Security to a PFCU Premier Checking Account is EASY! Just ask us how!

Overdraft Privilege

A service extended to our members who inadvertently overdraw their checking account but have sufficient funds to cover the overage in their Primary Share Savings Account. With this service, each time your PFCU Premier Checking Account is overdrawn, funds from your Primary Share Savings Account will be transferred, if available, to cover the overage. Utilization of this service results in a $2.00 service fee for each individual check that must be covered. If funds are not available to transfer from your Primary Share Savings Account and you are not eligible for Courtesy Pay or have not signed up for Quick Draw Overdraft Protection, each check will be returned and NSF fees will be charged.

Courtesy Pay

Courtesy Pay is a privilege extended to our members with Direct Deposit. With Courtesy Pay, written checks that exceed the funds available in your PFCU Premier Checking Account that cannot be sufficiently covered by funds from your Primary Share Savings Account will be held for 3 business days. During this time you are expected to make a deposit to cover the overage. If no deposit is made, the check will be returned NSF. A fee of $10.00 will be assessed for each check considered under Courtesy Pay.

Provisions of Courtesy Pay

  • To qualify for Courtesy Pay, all outstanding PFCU loans must be current
  • There is a $500.00 limit per account (may apply to one draft or multiple)
  • The $10 fee assessed for each draft counts toward the $500 limit
  • Checks will be applied to the $500.00 limit by considering the checks written for the highest amount first

Quick Draw Overdraft Protection

Quick Draw is PFCU's open-end Overdraft Protection Line of Credit. While primarily intended to serve as overdraft protection for qualified members with PFCU Premier Checking, Quick Draw advances may be used for any purpose. Members are not required to have Direct Deposit to utilize this plan. There is no fee for Quick Draw advances, although finance charges begin as of the date of the advance.

Provisions of Quick Draw

  • To qualify for Quick Draw, all outstanding PFCU loans must be current
    • If there is a loan delinquency or an advance would exceed the credit limit, no funds will be advanced, and the draft will be treated as an NSF and will incur an NSF charge.
  • Credit limits are based on your credit score with a maximum credit limit of $1,000.
  • Payments are based on 3% of the credit limit and are not associated with the outstanding balance
  • Interest rates vary depending upon your credit score
  • A monthly installment is required for any month there is an outstanding balance