What SECU charges for checking accounts

SECU (the State Employees Credit Union) does not charge a monthly maintenance fee on its basic checking account, called the Share Draft Account. There is no minimum balance requirement to keep the account open, and no fee simply for having the account.

However, SECU does charge fees for specific actions or situations — overdrafts, using an out-of-network ATM, stopping a payment, or ordering replacement cards. These are not automatic charges; they only occur when you do something that triggers them. Understanding which actions cost money helps you avoid unexpected charges.

SECU's fee structure is the same whether you bank in person at a branch or online. The credit union does not charge different fees based on how you use your account or how much money you keep in it.

Key Takeaways

  • SECU's Share Draft checking account has no monthly maintenance fee and no minimum balance requirement.
  • Overdraft fees, out-of-network ATM charges, and stop-payment requests are the main fees you may encounter, each with a specific cost.
  • SECU members can use any ATM in the CO-OP or Allpoint networks for free, which covers thousands of locations nationwide.
  • Overdraft protection linked to a savings account can prevent overdraft fees if you have enough money in savings to cover the shortfall.

Overdraft fees and how overdraft protection works

If you spend more money than you have in your checking account, SECU charges an overdraft fee. The fee amount varies depending on whether the overdraft was caused by a check, an electronic transfer, or a debit card transaction. SECU allows a small number of overdrafts per year before the fees begin to accumulate, but the exact number and timing rules depend on your account history and SECU's current policies — contact SECU directly to learn what applies to your account.

The most effective way to prevent overdraft fees is to link your checking account to a savings account and enroll in overdraft protection. If you overdraw your checking account, SECU automatically transfers money from your savings account to cover the shortfall. This transfer itself may carry a small fee (typically $1 to $2), but it is far less than an overdraft fee and protects you from declined transactions.

You can also prevent overdrafts by setting up account alerts. SECU's online banking platform lets you receive notifications when your balance drops below a certain amount, giving you time to transfer money in or adjust your spending before you go negative.

ATM fees and free network access

SECU does not charge a fee when you use an ATM owned by SECU or by another credit union in the CO-OP network. CO-OP includes over 30,000 ATMs across the United States, so you can withdraw cash for free at most credit union ATMs. SECU also participates in the Allpoint network, which adds thousands more free ATM locations, including many at retail stores and pharmacies.

If you use an ATM that is not part of CO-OP or Allpoint — typically a bank ATM or an independent machine — SECU charges a fee for the withdrawal. The fee is charged by the ATM operator, not by SECU, but it will appear on your SECU statement. These fees usually range from $2 to $3 per transaction, depending on the ATM owner.

To avoid out-of-network fees, locate a CO-OP or Allpoint ATM before you withdraw cash. SECU's website and mobile app include an ATM locator tool that shows you the nearest free machines in your area.

Stop-payment requests and other transaction fees

If you write a check and then need to prevent it from being cashed, you can request a stop payment from SECU. This service costs a fee per check stopped. The fee is charged whether or not SECU successfully stops the check, because the credit union incurs costs to process the request and monitor for the check.

Ordering replacement debit cards also carries a fee if you request expedited delivery. Standard replacement cards are sent at no charge, but if you need the card quickly, SECU charges for overnight or two-day shipping.

Wire transfers, cashier's checks, and money orders may also have associated fees. These are less common transactions, but if you use them, ask SECU about the cost before you request the service.

How to review your account fees

You can see all fees charged to your account by reviewing your monthly statement, which is available online or by mail. The statement lists each fee by date, amount, and reason. If you see a fee you do not recognize or believe was charged in error, contact SECU's member service line to dispute it.

SECU also publishes a fee schedule that lists all possible charges. You can request this document by phone, email, or in person at any branch. The fee schedule shows the exact dollar amount for each type of fee and any conditions that apply.

If you are charged a fee multiple times in a short period, ask SECU whether you are may be able to access for a fee waiver or reversal. Some credit unions waive fees for members in good standing or for first-time offenders, though SECU's policy on this varies.

Comparing SECU fees to other checking accounts

SECU's lack of a monthly maintenance fee puts it ahead of many traditional banks, which charge $10 to $15 per month for basic checking. However, SECU's overdraft and out-of-network ATM fees are similar to those charged by most other financial institutions. The real advantage of SECU is the large CO-OP and Allpoint network, which means you can avoid ATM fees in most situations without planning ahead.

If you rarely overdraw your account and have access to a CO-OP ATM, SECU's checking account will likely cost you nothing in fees. If you frequently use out-of-network ATMs or overdraw regularly, you may want to compare SECU's fees to those of online banks, which sometimes offer higher overdraft thresholds or more lenient overdraft policies.

Frequently Asked Questions

Does SECU charge a monthly fee just for having a checking account?

No. SECU's Share Draft checking account has no monthly maintenance fee, no minimum balance requirement, and no inactivity fee. You can keep the account open indefinitely without paying anything, as long as you do not trigger other fees like overdrafts or out-of-network ATM charges.

What happens if I overdraft my account?

SECU charges an overdraft fee, which varies by transaction type. The best way to prevent this is to link your checking account to a savings account and enroll in overdraft protection, which automatically transfers money from savings to cover the shortfall for a much smaller fee.

Can I use any ATM without paying a fee?

You can use any ATM in the CO-OP or Allpoint networks for free. These networks include over 30,000 ATMs across the country. Using an ATM outside these networks will result in a fee charged by the ATM operator. Use SECU's ATM locator tool to find free machines near you.

How much does it cost to stop payment on a check?

SECU charges a fee for each check you request to stop payment on. The exact amount varies, so contact SECU directly or check your fee schedule. The fee is charged whether or not the check is successfully stopped, because SECU incurs costs to process and monitor the request.

What should I do if I see a fee I don't recognize on my statement?

Contact SECU's member service line and ask about the charge. Provide the date, amount, and description from your statement. If you believe the fee was charged in error, SECU can review the transaction and may reverse it if the charge was incorrect.