Checking Accounts
We offer different options for checking accounts. Call or visit either of our locations to open your checking account. You must first have a savings account with us in order to open a checking account. If you do not have an account with us, click here to learn more about account opening.
Basic Checking:
No Monthly Fee. You must sign up for E-statements.
Statement Checking:
$0.95 Monthly Fee. This includes a paper monthly statement.
Secure Checking:
$3.95 Monthly Fee. This includes ID Protections and cell phone insurance.*
*Please see additional disclosures for the requirements for cell phone insurance.
Checkless Checking:
You may choose between Basic, Statement or Secure Checking (above).
Your ChexSystems record must be 2+ years old and you must owe less than $300. You must have direct deposit. No check writing privileges are available. You must take 2 online courses within 60 days of account opening. Visit http://moneyedcu.org/lcefcu and select the Managing Your Checking Account and Budgeting courses. You must pass the class with a 7/10 or higher. If you do not attend both classes within the next 60 days your account will be closed. The debit card will not be ordered until the classes have been completed.
Additional Services
Checks:
With your L.C.E. Federal Checking account, you will receive a starter pack of checks FREE. We have no minimum balance requirement on the checking account and have unlimited check writing. Dividends are not paid on checking accounts. Click below to re-order checks and view check styles.
Members under the age of 18 and over age 65 qualify for up to two free boxes of new checks within a year period.
Remote Services:
Managing your checking account has never been easier.
Online Banking - Check your account history on the go.
Mobile App with the capability to take a picture of your check and deposit it electronically.
Bill Pay - Pay your bills online for free.
Debit Card - A great alternative to writing checks.
Mobile Wallets are available.
Tap to Pay is coming soon!
Overdraft Protection
Overdraft loans:
Overdraft loans are available up to $200 upon credit approval. This is the first option we recommend for when accidents happen. This is a revolving loan that will kick in if you overdraft your checking account. You will not be charged any fees. The only thing you pay for is the interest that accrues until you pay off the overdraft loan. It is set up to pull $20 from your checking account if there is a balance due. You may pay this loan off at any time to avoid/ reduce the amount of interest you owe.
If you overdraft your account and do not have overdraft protection available, we will transfer the funds (if they are available) from your savings account to your checking account to cover the overdraft, but you will be responsible for the $28.00 insufficient funds fee.
Courtesy Pay Overdraft Protection:
Courtesy Pay is one more way we can help you meet your unexpected financial needs.
Most of us have found ourselves facing an occasional cash shortfall, be it the result of a checkbook error or an unexpected bill. If you have ever accidentally bounced a check, you already know that in addition to the embarrassment, you may also face merchant fees for the returned check along with the inconvenience of returning to the merchant to correct the error. And while a declined debit card does not create merchant fees, it can be an embarrassing experience.
L.C.E. Federal Credit Union understands, which is why we offer Courtesy Pay. Courtesy Pay is an overdraft protection service. There are no fees to have Courtesy Pay available on your share draft account. You only pay our standard NSF fee of $28 if you use Courtesy Pay to cover an insufficient item. With Courtesy Pay, instead of your check being returned or your debit card purchase being declined, we may pay or approve those items up to your overdraft limit of $500.
Courtesy Pay is automatically available to our share draft checking account holders for checks, automatic bill payments and other debit transactions. If you would like to have overdraft protection through Courtesy Pay for your ATM withdrawals and everyday debit card purchases, simply ask us to add Courtesy Pay protection for these types of transactions. Please call the Credit Union at 440-357-2560 or email us at info@lcefcu.org to Opt-In.
Credit unions, like other financial institutions, are closely regulated and operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members at more than 9,000 federal and state-chartered credit unions nationwide. Deposits are insured up to $250,000.