Checking Accounts

Whether you are looking for a checking account that’s affordable without sacrificing convenience, or you want an account that gives you a little something extra, Penn East has a solution sure to suit you well. If you like writing checks and visiting the ATM for cash, our Premier and Advantage checking accounts are your ideal fit. Looking for all the essentials and nothing you don’t need? Consider our Basic checking account, with no monthly service fee and no minimum monthly deposit or transaction minimums or required direct deposit. No matter how you enjoy spending, Penn East checking accounts make it possible.

Member Rewards Checking Accounts

Our High Rewards and Cash Back Rewards checking accounts cater to members who anticipate rewards for their banking activities, especially when utilizing their Penn East debit card.

High Rewards Checking***: 3.09% APY on balances up to $7,500.

or

Cash Back Rewards Checking**: 3.00% cash back on debit card signature transactions – up to $9 per month

Both get Nationwide ATM fee refunds – up to $20 per month

How Does a Penn East FCU Rewards Checking Account Work? 

•You must have a Penn East debit card
•Enroll in Online Banking and eStatements
•Must make 12 debit card qualified transactions within the same month; a Qualified transaction means you must choose “Credit” when checking out at your favorite stores! PIN transactions do NOT count toward earning rewards.
•Dividends or cash rewards are paid out at the end of the month.

Direct Deposit: Gain early access to your paycheck!^

By signing up for direct deposit with Penn East Federal Credit Union, you can enjoy the perk of getting your paycheck up to two business days in advance. Our hassle-free enrollment process ensures that your earnings are effortlessly and promptly deposited into your account, eliminating the need for a visit to a physical branch. Utilize your account number and Penn East Federal Credit Union Routing Number (231385950) to establish Direct Deposit with your Employer.

Compare Checking Accounts

Type

Direct Deposit

Dividend Rate

Cash Rebates

Outside Network ATM Fees Reimbursed

Minimum Maintained Balance

Free Checks

NSF Fee

Monthly fee for falling below minimum balance

Inactive Fee

Overdraft from Savings Fee

Overdraft from Line of Credit

Online Bill Payer

Basic Checking Account

Not required

No Dividends

-

ATM Fees reimbursed

$0

First box at account opening

$29

Not Applicable

$5 per month after 1 year of inactivity

$4

$0

FREE

Advantage Checking Account

Not required

Earns Dividends

-

ATM Fees reimbursed

$2,500 in checking

Free

$29

$5

-

$0

$0

FREE

Premier Checking Account

Not required

Earns Dividends

-

ATM Fees reimbursed

$15,000 in total account

Free

$29

$5

-

$0

$0

FREE

High Rewards Checking*

Not required

3.09% APY* up to $7,500

-

ATM Fees reimbursed

$0

-

$29

None

-

$4

$0

FREE

Cash Back Rewards Checking**

Not required

No Dividends

3% on all debit signature transactions up to $9/mo

ATM Fees reimbursed

$0

-

$29

None

-

$4

$0

FREE

^The early availability of direct deposit funds is contingent upon the timing of the payment file submission from the payer. Typically, we make these funds accessible on the day we receive the payment file, potentially up to two business days earlier than the scheduled payment date. This arrangement is subject to change at any time.

1Overdraft Line of Credit is a personal line of credit attached to your checking account. Subject to credit worthiness. There are no transaction fees, however, interest will accrue from the time an advance is made until the balance is paid in full. 2Free checks must be the basic (LIDS) check. The cost for any other style is the responsibility of the member. 3Fees may be assessed by non-Penn East FCU-affiliated ATM owners. 4After the first eight free transactions, ATM transactions are $1.50 each. In addition, fees may be assessed by non-Penn East FCU-affiliated ATM owners.

***High Rewards Checking: This account is subject to a Tiered Variable Rate. 3.08% APY will be paid on the portion of daily balance of $7,500 or less. Portion of daily balance over $7,500 earns a dividend rate of 0.10%, resulting in an APY of 3.00% to 0.32%, depending on the balance. If qualifications are not met, all balances in the High Rewards checking will remain at 0.10% APY. In order to earn the disclosed High Rewards APY and be reimbursed for domestic ATM fees incurred (up to $20.00 per month), during each dividend period, You must: (a) make 12 or more signature-based (non-PIN) transactions (evidenced by Your statement) using Your MasterCard Debit Card; and (b) consent to receive Your statements electronically. Each qualification cycle will begin on the first calendar day of each month, and end on the last calendar day of each month (“qualification cycle”). Domestic ATM fees incurred during each calculation cycle will be reimbursed up to a total of $20.00 if qualifications are met within the calculation cycle. Calculation rewards will not be issued if all qualifications are met within the calculation cycle.

**Cash Back Checking: Dividend Information. No dividends are paid on this Account. In order to earn cash back rewards using Your MasterCard Debit Card and be eligible to receive credit for domestic ATM fees incurred (up to $20.00 per month), You must: (a) make 12 or more signature-based (non-PIN) transactions (evidenced by Your statement) using Your MasterCard Debit Card; and (b) consent to receive Your statements electronically. Each qualification cycle will begin on the first calendar day of each month, and end on the last calendar day of each month (“qualification cycle”). Cash back credits will be earned at the rate of 3.00% of all qualifying purchases, up to a total of $9.00 per qualification cycle. Domestic ATM fees incurred during each qualification cycle will be reimbursed up to a total of $20.00. Cash back and ATM reimbursements will not be issued if all of the requirements are not met each qualification cycle. You will not receive high dividend rewards or cash back credits or ATM reimbursements in conjunction with: (i) transactions processed at ATMs; (ii) transfers between Accounts; (iii) MasterCard Debit Card point of sale transactions processed by merchants and received by Us as ATM transactions; (iv) non-retail payment transactions; and (v) point of sale transactions made with debit cards not issued by Us. Transactions bundled together by merchants and received by Us as a single transaction will be accounted for as a single transaction when We determine the amount of any earned rewards. If at any time We believe that the activity on Your Account is for the sole purpose of qualifying for rewards and credits, We may at Our sole and exclusive option, close Your Account. Members may open one (1) Member Cash Back or Member High Rewards Checking Account.

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Do you have our smartphone app?

Mobile banking that respects and rewards your time.

Life is truly mobile when you download the free Penn East smartphone app for iPhone and Android. Input your online banking login credentials and immediately see your balances, move money, pay your loans or other bills, deposit checks, and much more! Concerned about security? PEFCU’s smartphone app carries the same industry standard encryption as online banking and adds a biometric security using your fingerprint or retina scan (if supported by your device) for even more protection.

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