Direct Checking Account If you want convenient account access at a cost that is more than affordable PLUS your money is available to you faster than ever before, then Spectrum's Direct Checking Account may be for you! (NOTE: If you currently have a checking account at another financial institution, you may switch your checking account to Spectrum by following the instructions on this secure Checking Account 'Switch Kit'.) Minimum requirements: With Direct Checking, there is no monthly service fee provided you set up direct deposit of your paycheck*. The minimum required to open the account is only $100. Anyone can open a Direct Checking account. All you have to be is a Spectrum member and meet the minimum requirements listed above. The direct deposit requirement will save you time and money. No more waiting in line or having to take the time to deposit your funds into your account. No more going to the post office or mailing your deposit. It will be done for you automatically, painlessly and securely! PLUS, you can arrange to have funds automatically sent to your savings accounts (like your Vacation or Holiday Club accounts) where your money can grow and be there when you need it! Account features: * Monthly statements (your choice of traditional paper printouts or electronic statements) providing members with a consolidated record of transaction activity and earnings for reconcilement of the account. * Automatic overdraft protection from savings, providing a 'safety net' in case there are insufficient funds in the checking account * Direct Deposit of funds so members may have their paycheck directly deposited into this account automatically each pay period * Automatic loan payments from checking (or savings) may be set up in order to get a lower rate on certain loans and to take advantage of the convenience of not having to write and mail a check every month The Direct Checking account can be accessed through: * Share Drafts (checks) * By using your Spectrum FCU check/debit card * In-person at one of our branch locations * Through SAM-24, our automated voice response system - members may perform inquiries, transfers, request withdrawals by Spectrum Official Check at their convenience using their touchtone phone anytime, anywhere * Through PAL - Personal Account Link, members may perform inquiries, transfers, request withdrawals, view and print their statements via their personal computer - and otherwise manage their accounts * By automated deposits and withdrawals * Make deposits in person at your nearest branch, through the shared branch network, co-op deposit sharing network ATMs or at any of our proprietary ATMs located near our branches. Contact us for more info on these options. * By ATM - conveniently make withdrawals through all ATMs displaying the surcharge-free co-op, Star®, Plus®, Interlink® or the Exchange® network symbols. Additionally, members' funds are secure and guaranteed. The National Credit Union Administration (NCUA) insures the cumulative balances of Share/Checking/Club and Share Certificate accounts up to $100,000 (IRAs insured separately). Additional Share Insurance deposit coverage up to $250,000 on all credit union deposit accounts currently being insured by the NCUA is covered by American Share Insurance (ASI). This means the total insured amount is $350,000.