Eaton Family Credit Union News

We think that our FREE Advantage Checking beats Prepaid Debit Cards every time because No annual fee No charge debit card transactions ATM access Branch access Shared branch credit union partner access Online bill pay Paper checks Earn interest Click here for an article from The Plain Dealer by Teresa Dixon Murray on July 30, 2013 titled,  Consumer Reports evaluates prepaid debit cards... Click here for article from Consumer Reports published July, 2013 titled,  What you need to know about prepaid cards Click here for the report from Consumer Reports published July, 2013 titled, Prepaid Cards: How They Rate on Value, Convenience, Safety and Fee Accessibility and Clarity

On September 10, 2012 The Cleveland Plain Dealer ran an updated article by Teresa Dixon Murry titled, " Local banks charge higher checking fees; some even charge to mail you a statement." She writes, "... most banks in Northeast Ohio are raising common fees for things like overdrafting your checking account, getting a cashier's check or using another bank's ATM." Click here to read the entire article. Also click here to see more from August, 2011. She includes a chart listing fee changes from last year. Here are our fees and any changes we've made. Overdraft = $25...no change Cashier's Check = $2...no change Other bank's ATM = $0 for the first 8 transactions with $1,000 savings or direct deposit then $2 per transaction thereafter...no change Stop Payment = $25...no change Wire Transfer = $17...no change Lost ATM Card = $0 for the first then $15 thereafter...no change Returned Deposit = $15...no change Click here for o...

On Sunday, August 5, 2012 The (Cleveland) Plain Dealer ran an article by Teresa Dixon Murray  called, " Bid Your Checkbook Goodbye ." Murray discusses the latest trend in banking as an online service with a prepaid debit card for transactions. We like to explain how our FREE checking  trumps prepaid debit cards when it comes to fees and services. And we think our FREE checking is better than the bank's checkless checking accounts. Here are some questions she suggests you ask if you're considering a checkless account and our answers: Can I physically deposit checks or cash to my account at ATMs or in branches? Yes. You can visit our branches in northeast Ohio and over 4,600 shared branch credit union partners nationwide. Plus many of our surcharge-free ATM partners accept check deposits. Are there fees to make deposits? No. Can I pay bills or send checks to individuals online? Yes. We have FREE online bill pay ...

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...

On June 15, 2011 The Cleveland Plain Dealer ran an article by Teresa Dixon Murray titled, "Cleveland debit card spree getting bigger as more than 1 dozen banks, credit unions affected." The article starts, " The local debit card fraud breach that was discovered last month is much wider than first realized, striking just about every major bank in the area and some of the biggest credit unions across Northeast Ohio." Click here to read the entire article. Eaton Family Credit Union wants you to do the following if you think you are a victim of fraud and specifically debit card fraud. Fill out a police report with your local police department. Contact us or call 800-264-5578 anytime to discuss debit card fraud concerns. Here are some options we will discuss to ensure your account is safe and will remain safe. Monitor your account daily with home banking , MATT Line TouchTone Teller or EFCU Mobile . If applicable remove automatic overdraw services including autom...

In the Tuesday, April 12, 2011, Cleveland Plain Dealer , Teresa Dixon Murray , Business Writer and Columnist, wrote an article called, " Bank customers can expect new fees for using ATMs, talking to tellers, transferring money." In the article she writes, " Fees like these are on the rise this year as banks nationwide grapple with how to recover billions of dollars in lost revenue now that they can't make as much from overdrafts fees, credit card interest and debit card usage fees as they once did." Click here for the entire article. Click here to see the chart, "What some banks will be charging you." Here are some of the types of fees mentioned in the article and what we charge per monthly and annually: Non-branded ATM-only card = $0.00* vs. $10 annually from PNC Bank MasterMoney Debit Card = $0.00* vs. $3.95 monthly from 5/3 Bank Checking Account = $0.00 with no minimum or monthly average vs. $20 monthly from CitiBank and $9 monthly from Bank of A...

On Saturday, January 22, 2011, in the Cleveland Plain Dealer , Teresa Dixon Murray wrote an article titled, "Ask your bank these tough questions about debit cards: Money Matters." The article starts with a question from C.M. from Berea The Question : In your Jan. 1 column, you said you were against debit cards. I was wondering if you could explain your reasoning. The Answer: For those who haven't read my rants over the years about debit cards that are connected to a person's primary checking account, here's why I think they're horrible... Click here to read the whole article. Here are some questions Ms. Dixon Murray includes at the end of the article and our answers 1. How can you make sure my account doesn't get hit by fraud or a billing error that drains money intended to cover a check I already wrote or an automatic payment already scheduled? Eaton Family Credit Union members are the first line of defense against fraud by limiting with whom they share...

Here is the start of an article from Sunday, August 15, 2010 Cleveland Plain Dealer by Teresa Dixon Murray , "A change in federal law that kicks in today says banks must get your permission up front before charging you an overdraft fee for a wayward ATM withdrawal or debit card purchase." Click here for the entire article. In the article she includes, "Questions to ask your bank about overdraft policies for ATM withdrawals and debit card purchases." Here are the questions and answers from Eaton Family Credit Union: What are the fees for overdrafting my account with an ATM withdrawal or a debit card purchase? Does the fee get higher the more times an overdraft occurs during the year? $25 overdraft fee per transaction Is the overdraft fee waived if my negative balance is minimal, say, less than $5 in the red? $5 grace amount. Let’s talk. Please let us know when you have concerns about your account. Does your bank offer real-time text or e-mail alerts if my balance g...

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.