Sharedrafts (Checking)

Lennox Employees Credit Union is proud to offer a truly free share draft

Checking

If you do not overdraw your account and you do not request a debit or ATM card  the only cost for this account is the price of your checks.  We pass that cost directly to you; we do not make a profit on your check orders.

To have a share draft (checking) account at the credit union, you must member of the credit union.

If you already have an account at the credit union and would like to add a share draft (checking) account, please contact the credit union at 641-754-4501.

All funds in a “noninterest-bearing transaction account” are insured in full by the National Credit Union Administration through December 31, 2012.  This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s  general share insurance rules.

The term “non-interest-bearing transaction account” includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (“NOW”) account, money-market deposit account, and Interest on Lawyers Trust Account (“IOLT”), even if share drafts may be drawn on the account.


DEBIT CARD – SHAZAMChek ® Card

Debit Card

This MasterCard® debit card can be presented just like a check to make purchases or you can use it at an ATM machine to access your share (savings) and share draft (checking) account.

Use the card to pay for any purchases at a MasterCard® merchant. Buy your groceries, buy gas, pay for your department store purchase, all with the debit card.  The funds for your purchases are withdrawn from your share draft (checking) account at the credit union.

Use the card just like an ATM card at automated teller machines.  It's accepted anywhere you see the SHAZAM®, MasterCard®, or CIRRUS® logos.  You can use it to make cash withdrawals and balance inquiries.

Call the credit union at 641-754-4501 for a debit card application.

Lennox Employees Credit Union Debit Card Fees

Monthly Charge   ...................................................................................................................... $1.00
Per transaction at an ATM machine   .......................................................................................   $0.50
Per Transaction at a MasterCard merchant   ..............................................................................  FREE
Daily withdrawal limit at an ATM machine   .........................................................................  $200.00
Daily total withdrawal limit - ATM machine + MasterCard merchant   .................................   $500.00
Three day total withdrawal limit - ATM machine + MasterCard merchant   ......................... $1000.00
Replacement card (original card no charge)   ...........................................................................  $3.00
Non-sufficient funds fee   .......................................................................................................  $20.00
Deposits   .........................................................................................................................  IOWA only
All fees are subject to Iowa sales tax.