About 14 million adults in the U.S. do not have an account with a credit union or bank. Whether this is by choice or because they don’t think they qualify to open an account, they end up missing out on many financial services that make life easier. Having a checking account can make a big difference.

For instance, instead of using a credit union to deposit their paychecks and getting only the cash they need, they use check-cashing stores like Check into Cash or other retailers. These operate by charging a fee of 1% to 6% of the check amount.

In addition, people without a credit union account don’t have a safe place to keep their funds. They are less likely to qualify for loans, and can’t earn interest on the money they save.

Checking Account Conveniences

There are many other conveniences to having a checking account:
• You can get a debit card or use a mobile wallet
• Using checks to pay your bills.
• You will be able to pay bills online, using electronic Bill Pay
• If your employer offers direct deposit, you can have your paychecks automatically deposited into your account. This means you will get your money faster. So you won’t need to go to a branch or ATM to make the deposit.
• Get cash for just a portion of your paycheck and leave the rest in your account. This means you won’t have to carry large amounts of cash on you.
• Your money will be safe in your account from theft, fire, or loss. And it’s also insured, so if something should happen to the credit union, your money is covered up to $250,000.

Opening a checking account is very easy. You’ll need a Social Security number [or ITIN], two forms of identification, and $50 for the first deposit.

Simply Free Checking

Many banks charge checking account fees, some as high as $9 a month. But at Mid Oregon Credit Union, you can get a Simply Free Checking account. Enjoy no monthly maintenance fees and no minimum balance requirements. And when you become a member, you become a co-owner of the credit union. Among the perks are lower loan rates and higher savings rates than you would get at banks or other financial institutions.

To get started, see the available checking accounts at www.midoregon.com, where you can find out the best checking account for you using our online checking chooser. Or, contact us by calling (541) 382-1795, emailing to info@midoregon.com or meeting with a Account Representative at a convenient Central Oregon branch office.