Eaton Family Credit Union News

In the February, 2012 Consumer Reports  article, " Bank Accounts More fees are coming. How to fight back–or flee. " the magazine starts, "People say they’re furious at behemoth banks, for myriad reasons: lending practices that helped sink the economy, government bailouts, foreclosures, huge bonuses for CEOs, and now higher fees and tougher account requirements." They suggest, "Why this is happening: Banks are fighting pressure on several fronts. Lending is down, interest rates are at historic lows, and there’s been a decline in investment income." So take a moment to compare our fees to banks and other credit unions as reported by Informa Research Services , "The largest credit unions tend to have lower fees on average than the biggest banks." We think some of us "smaller" credit unions stack up very well too! Non-interest checking per month Eaton Family Credit Union = $0 Bank = $10.27 Credit Union = $6 Minimum balance to wa...

On August 15, 2011 The Cleveland Plain Dealer ran an article by Teresa Dixon Murray titled, "Fees Rise At Cleveland-area Banks." The article states, "A year after having a cap put on their overdraft charges, banks look toward other fees to make up the difference." Click here to read the entire article. First of all, Eaton Family Credit Union does not charge to take in rolled coin. We do ask our owner/members to let us know if they're bringing in a whole bunch. Secondly, there is a 2% fee to deposit loose coin at our Euclid office and other fees for cash or for non-members. Lastly, regarding fees, click here for our complete fee schedule (also listed under Disclosures on our website). Here are our fees for the information in the PD chart Overdraft = $25 Cashier's Check = $2 Other bank's ATM = $0 for the first 8 transactions with $1,000 savings or direct deposit then $2 per transaction thereafter Stop Payment = $25 Wire Trans...

Here is the start of an article from Saturday, August 7, 2010 Cleveland Plain Dealer by Teresa Dixon Murray , "Bank customers soon will see higher fees, more of them and no more free checking -- all the result of banking reform that will cost banks billions of dollars." Click here for the entire article. Click here for the bank fee chart accompanied the article. As usual, read the fine print to see how bank fees quickly add up...imagine what they will do later this year. Eaton Family Credit Union will also experience decreased overdraft fee revenue but we're not planning on getting rid of FREE Checking . Here is a breakdown of our fees based on chart in the PD. Non-Sufficient Funds = $25 Cashier's/Official Check = $2 Foreign ATM = $1 Stop Payment $25 Electronic Wire Transfer Incoming = $6 Outgoing Domestic = $17 Outgoing Foreign = $40 Lost ATM Card = $0 ATM-Only Card = $0 Deposit Check that Bounces = $15 Click here for our complete fee schedule.