University Checking Account
Benefits of University Checking Account
Forget traditional checking accounts and start banking with your brain. Our University Checking Account empowers you to reach your financial goals with ease. Unlock exclusive member-owner benefits, including:
- Earn 1.00% APY in dividends when you enroll in eStatements and make 25 monthly transactions
- Amplify your earnings up to 4.00% APY1 more in dividends when you have your loans with UCU, including an auto loan, credit card, personal loan, or home loan/home equity line of credit (HELOC)
- Receive auto and personal loan rate discounts of 0.25% APR2 when you enable auto pay
- Get paid up to two days early3 with direct deposit
- Receive automatic ATM fee reimbursements (up to $25/month4)
- Use digital banking to check balances, pay bills, and more
We make banking easy
Digital banking
Fee-free checking
Access to ATMs nationwide
Shared branching network
Get paid up to two days early
Easy application process
Frequently asked questions
- How do I utilize funds in my University Checking Account? Click On How do I utilize funds in my University Checking Account?
There are several convenient options to utilize the funds in your University Checking Account t. Settle payments electronically with Bill Pay, write checks for traditional transactions, or use your UCU debit card for online or in-person purchases or withdrawing cash from our network of over 30,000 fee-free CO-OP ATMs.
- How do I open a University Checking Account? Click On How do I open a University Checking Account?
Opening a University Checking Account is quick and easy. In just a few simple steps, you can easily become a UCU member-owner and open your account online from the comfort of your home or office.
- What minimum balance should I keep in my checking account? Click On What minimum balance should I keep in my checking account?
There are no minimum balance requirements. However, a $50 minimum deposit is required to open a University Checking Account.
- Does University Credit Union offer overdraft protection? Click On Does University Credit Union offer overdraft protection?
University Credit Union protects your financial well-being with no automatic overdraft fees on our University Checking Account. Instead, we offer access to an overdraft line of credit that is linked to your checking account. You will be charged interest only on the amount you borrow from your line of credit. This ensures that you only pay for the funds you utilize and can help you save money in the long run.
- Do I need to use checks to maintain a checking account? Click On Do I need to use checks to maintain a checking account?
No, you do not have to use physical checks. You can utilize Bill Pay, a UCU debit card, or digital banking to move funds.
University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, The Big West Universities, Western Athletic Conference Universities, Southland Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.
*APY = Annual Percentage Yield. To earn up to 5.00% APY, member must have a qualifying University Checking Account. Based on a combined rate of 4.88%. Credit card must be active, have at least one monthly transaction (excludes balance transfers and cash advances), and be enrolled in credit card eStatements to qualify for the extra 1.00% APY in dividends. Account does not earn dividends if there is a $0 balance in a HELOC at the end of the month. All accounts must be in good standing with no delinquency or bankruptcy pending. Multiple loans in the same category count for only 1.00% APY in dividends.
1Qualifying University Checking Accounts will earn 1.00% APY in dividends on balances up to $25,000. Balances above $25,000 will be paid at the regular checking rate. Qualifying University Checking Accounts are defined as having at least 25 transactions per month (includes transactions made with both debit and credit cards) and enrollment in eStatements. If the requirements are not met, then no dividend is earned. Secondary University Checking Accounts not eligible to earn APY. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account at the end of each day. Dividends are disbursed monthly into the active University Checking Account. APY is accurate as of the last dividend declaration date. Fees could reduce the earnings on the account. Rate subject to change after account opening and may vary based on qualifications met at month end. Not valid with any other offers. To establish a UCU Membership, you must deposit at least $5 to a Regular (Share) Savings Account. A $50 minimum deposit is required to open a University Checking Account. All accounts are subject to approval.
2APR= Annual Percentage Rate. Rate with Automatic Payment from a University Checking Account may be discounted by 0.25% as long as the rate does not fall below the floor rate. Credit Cards, HELOCs, and mortgages are excluded.
3Early access to direct deposit funds is dependent on the timing of the submission of the payment file from the payer. Generally, these funds are available on the day the payment file is received, which may be between two and six days earlier than the scheduled payment date.
4Up to $25 in ATM fees incurred at other financial institutions will be automatically credited to your active University Checking Account at close of month end.