Free Checking

Members of LANCO Federal Credit Union have access to absolutely FREE Checking Accounts — There's no minimum balance requirement and no monthly service charge.

• Visa Debit Cards are available to access your account at ATMs to deposit, withdraw or transfer money, and to use for purchases anywhere Visa is accepted.
• Your first box of standard duplicate checks is free
• Overdraft Protection is available to cover your checking account in case of overdrafts
• You will receive your account statements monthly by mail, or you may opt to receive your statements online by enrolling in free E-Statements
• With Bill Payer, you can set up an unlimited number of bills to be paid automatically from your LANCO Checking Account

Members: Click here to re-order checks online.

Visa Debit Cards

Once you open a LANCO Checking Account, you may also choose to apply for a Visa Debit Card. You can use your Debit Card to make purchases anywhere you see the Visa logo, or to access your accounts at any ATM.¹ Click here to find a surcharge-free ATM near you.

• Your debit card is available to you at no cost
• Your card is accepted anywhere Visa is accepted
• Make unlimited Point-of-Sale purchases with your debit card²
• Make up to four (4) free ATM transactions per month² (Excluding surcharges imposed by machine owners.)

¹In an effort to prevent fraudulent transactions on your account, LANCO blocks debit card transactions made outside of the United States. Before travelling internationally, notify LANCO so that we can allow foreign debit transactions to occur on your account.
²Point of Sale daily limit is $1,500. ATM withdrawal daily limit is $500. Daily limits reset at 3:00AM EST. ATM transactions exceeding four (4) per month will incur a fee of $.60 per transaction.

Overdraft Protection

We understand that from time to time, you may accidentally overdraw your Checking Account. That is why we have steps in place to protect you from being charged excessive fees and from having overdraft items returned.

In the event that you overdraw your account, LANCO will first attempt to pay the overdraft item by transfering money from your Share Savings. This is the best option for covering an overdraft item because it incurs only a minimal fee.

If your Share Savings Account cannot cover the item because there are not enough funds or because it has reached its transaction limit under Regulation D, your overdraft may be covered by Overdraft Privilege.

Overdraft Privilege

Overdraft Privilege is a feature offered for eligible accounts at the discretion of LANCO. This means if you maintain your eligible account in good standing, we will consider, without obligations on our part, payment of your reasonable overdrafts.

Overdraft Privilege carries a limit of $500.00 and is accessed only when your overdraft cannot be covered by an Overdraft Transfer from your Share Savings.

When an overdraft item is paid through Overdraft Privilege, you will avoid the returned item fees that a merchant charges. Plus, your reputation will be unharmed as the merchant will never know that your account had non-sufficient funds.

Expanded Overdraft Privilege

Checking accounts at LANCO automatically feature Overdraft Privilege which covers overdrafts resulting from check or ACH transactions, up to a certain amount. However, federal regulations require us to receive your opt-in authorization in order to pay overdrafts on ATM or everyday debit card transactions.

LANCO will only provide Overdraft Protection for debit card transactions if you have opted in for expanded Overdraft Privilege. If you do not opt in, any ATM or everyday debit card transaction that would cause an overdraft to occur will be declined. Learn more about expanded Overdraft Privilege.

Truth-in-Savings Disclosure and Fee Schedule | Discretionary Overdraft Privilege Policy