Policemen's Federal Credit Union

Products & Services » Checking Accounts

Premier Checking Account

At Policemen's Federal Credit Union, we don't need to offer a variety of checking accounts. All the features and benefits you're looking for can be found in PFCU's Premier Checking Account.

The advantages of PFCU's Premier Checking Account include:

  • No minimum balance
  • ID Safe Identity Theft Recovery Services available
  • Dividends are paid on daily balances of $250 or more
    • Dividends are paid monthly on your daily balance
  • No restrictions on the number of share drafts you can write
  • No per check charge

Additional PFCU Premier Checking benefits:

  • The Premier Checking Account features a VISA check card which allows debit and credit transactions everywhere VISA is accepted. This card also serves as an ATM access card.
  • Convenient ATM access to your PFCU Premier Checking Account is available at PFCU's three local ATM stations, all Credit Union Center shared branch ATMs in Indiana, and all Alliance One ATMs without incurring ATM charges.

    Click on the links below for location information:
  • Overdraft Protection is available from your Membership Share Savings Account or Line of Credit Accounts.
  • Overdraft Protection via Line of Credit is available to qualified members.
  • 24-hour access to your account via "Sybil" the audio teller or "Perfect Teller" home banking.
  • Members age 60 and over receive two free boxes of standard checks per year.

Direct Deposit into your PFCU Premier Checking Account offers additional money saving opportunities you don't want to miss!

Money Market Accounts

PFCU's Money Market Accounts offer members with higher balances an alternative to the standard share accounts!

  • The minimum balance to open and qualify for dividends is $10,000.
  • Dividends are paid monthly.
  • Dividends are paid based on your account balance according to the following tiers:
    • $10,000 to $24,999
    • $25,000 to $49,999
    • $50,000+
  • PFCU provides your initial 50 checks free!
  • Withdrawals are limited to six free per month; withdrawals over six per month are assessed a $3.00 fee.
    • Withdrawal transactions include: Electronic withdrawals or transfers, cash withdrawals, and / or check withdrawals.
  • No dividends are paid for any day the balance falls under the $10,000 minimum balance.
  • A monthly fee of $5.00 will be assessed for any calendar month in which the balance drops under $10,000.
    • The maximum fee is $5.00 per month; fee is not driven by the number of days the balance is below $10,000.

Direct Deposit

Members with Direct Deposit of their payroll check or Social Security check into a PFCU Premier Checking Account are qualified for discounts on loans and premiums on certificates.

  • Members with Direct Deposit receive two free boxes of standard checks per year.
  • Direct Deposit into a PFCU Premier Checking Account is safe and convenient and makes funds available without a trip to the office.

With PFCU's help, switching the Direct Deposit of your payroll or Social Security to a PFCU Premier Checking Account is EASY! Just ask us how!

Overdraft Protection

Overdraft Protection via Membership Share Savings

A service extended to our members who inadvertently overdraw their checking account but have sufficient funds to cover the overage in their Membership Share Savings Account. With this service, each time your PFCU Premier Checking Account is overdrawn, funds from your Membership Share Savings Account will be transferred, if available, to cover the overage. Utilization of this service results in a $2.00 service fee for each individual check that must be covered.

If funds are not available to transfer from your Membership Share Savings Account and you have not signed up nor qualify for Overdraft Protection via Line of Credit, each check will be returned and NSF fees will be charged.

Overdraft Protection via Line of Credit

PFCU's open-end Overdraft Protection is a line of credit intended to serve as overdraft protection for qualified members with PFCU Premier Checking. Similar to loan privileges, a member must apply for a line of credit and demonstrate creditworthiness. Members are not required to have Direct Deposit to utilize this plan. There are no fees associated with these advances, although finance charges begin as of the date of the advance.

Provisions of Overdraft Protection via Line of Credit

  • To qualify for Overdraft Protection, all outstanding PFCU loans must be current
    • If there is a loan delinquency or an advance would exceed the credit limit, no funds will be advanced, and the draft will be treated as an NSF and will incur an NSF charge.
  • Credit limits are based on your credit score with a maximum credit limit of $1,000.
  • Interest rates vary depending upon your credit score
  • A monthly installment of $30 or the balance (whichever is lower) is required for any month there is an outstanding balance
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