Pew Safe Checking

Transparency in Policies and Fees on Checking Accounts

The Credit Union supports full and fair disclosure of checking account policies and fees by all financial institutions. Recommendations for enhanced disclosures have been outlined by the financial institutions. Recommendations for enhanced disclosures have been outlined by the Pew Charitable Trusts to the Bureau of Consumer Financial Protection (BCFP). The Pew recommendations confirmed the need for greater transparency in checking account disclosures to assist consumers in selecting the best checking account for their personal financial needs. Specific recommendations included: full and concise fee disclosures, reasonable and proportional overdraft fees, and elimination of transaction reordering for maximization of overdraft fees.

As a not-for-profit member-owned cooperative, GKCU is proud to highlight our checking account as a “best practice” in consumer fairness for the BCFP. To that end, GKCU has created a one page summary of the full and fair policies, fees and terms of our checking accounts: Checking Account Fees & Terms.