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  CommonWealth Checking

CommonWealth Checking

in Checking Accounts from CommonWealth Credit Union · Member ncua

Unaffiliated

CommonWealth Checking

Unaffiliated

in Checking Accounts from CommonWealth Credit Union · Member NCUSIF

Net Recommendation Score 0

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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1 user recommends
0 users are unsure
1 user doesn't recommend
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Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0
ATM Fee: Out-of-Network $2
Minimum Balance to Avoid Monthly Fee $0
APY (Annual Percentage Yield) 0.1%

CommonWealth Checking Review

CommonWealth Checking is offered by CommonWealth Credit Union, a credit union founded in 1951 and based in Frankfort, KY. CommonWealth Checking is available in 1 state across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.1%.
  • $0 monthly fee. This account does not charge a monthly maintenance fee.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. CommonWealth Checking does not charge fees on ATM transactions within its network but there is a fee of up to $2 for out-of-network ATM transactions.
  • Free bill pay. Pay your bills to practically anyone in the United States through CommonWealth Credit Union.
  • Hard credit pull. CommonWealth Credit Union may require a hard pull on your credit report to open a checking account.
CommonWealth Checking Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Deposits are insured by the NCUA (up to $250K).
  • Access to physical branches.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Not FDIC-insured.
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Charges a higher than average fee on out-of-network ATM transactions.
CommonWealth Checking FAQ

Are checking accounts from CommonWealth Credit Union federally insured?

Yes, your CommonWealth Credit Union checking accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What APY does CommonWealth Checking offer?

CommonWealth Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.1%

CommonWealth Checking offers an APY of 0.1% (APY stands for annual percentage yield, rates may change).

What are the account minimums for CommonWealth Checking?

CommonWealth Checking does not require a minimum initial deposit.

CommonWealth Checking Account Minimums
Description Amount
Minimum Opening Deposit $0

What fees does CommonWealth Checking charge?

The good news is that this account does not have a monthly service charge.

CommonWealth Checking Fees
Description
ATM Fee: In-Network $0
Check Copy $2
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 1%
Monthly Fee $0
NSF Fee $30
Online Bill Pay Fee $0
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $2
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $30
Returned Deposit Fee (International) $30
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $50
ATM Fee: Out-of-Network $2

What features and perks does CommonWealth Checking offer?

This account includes the following features:

  • Fraud monitoring - CommonWealth Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - CommonWealth Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   417 High St
    Frankfort, KY 40601
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by CommonWealth Credit Union

Availability

  Available in 1 state
Kentucky
Availabile in all of Kentucky

Feature Breakdown

ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Monthly Fee $0
Online Bill Pay Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Check Copy $2
Foreign Transaction Fee (Debit Card) 1%
NSF Fee $30
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $2
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $30
Returned Deposit Fee (International) $30
Stop Payment Fee $30
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Outgoing) $50
ATM Fee: Out-of-Network $2
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • IRAs
  • Debit Card
  • Bauer Financial A+/A Rating
  • NCUA Member
  • Branch Access
APY (Annual Percentage Yield) 0.1%

CommonWealth Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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