Checking Accounts - Welcome to GenFed Credit Union

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Checking Accounts

Checking is not only *FREE* at GenFed, it’s EASY!

Get your first order of premium checks for $10.10 when you open a new GenFed checking account.
There are no monthly fees, no per-check charges, and no per-transaction charges!
Make withdrawals and deposits whenever you like.
Write as many checks as necessary.
GenFed's *FREE* Checking account also comes with online access to HomeBanking, our online banking service and GenFed's FREE online Bill Payer. Click 'Bill Pay' in the top right corner of our homepage for more information and to view a demo of this service.
Also, get GenFed's Debit Card! Use the Debit Card at any merchant that accepts MasterCard, and the funds are deducted out of your checking account. Compare that with your current checking account charges!

Dividend Checking
If you want to earn dividends on your checking account funds, we have an alternative for you: GenFed’s Dividend Checking Account. Earn dividends on all of your checking account funds. Minimum balance applies.

New Start Checking
We understand mistakes happen and believe everyone deserves a second chance. Many institutions will not open a checking account as long as you have an open record on ChexSystem. To better serve our members/owners, GenFed offers a New Start checking account. This account offers Debit Card and check access, 24-hour internet access, and Bill Payer options for all your electronic conveniences. PLUS, after one year of activity with no negative history or once your Chex System account has been paid in full, you can switch to either our free checking or dividend checking product. Contact your local branch for more information.

Business Checking
Enjoy all the benefits of a regular GenFed Checking account for your business. $5 monthly fee for members that aren't Platinum Co-op Advantage status.

'I love my GenFed branch. Would not go anywhere else.'
Dora A, Mt. Vernon branch

Want to open your own GenFed Checking Account? Contact your local branch to set up an account today. Click here for an easy form to help with that! Don't forget to change your direct deposit and payroll deductions to your GenFed account!

GenFed's Routing and Transit Number:
(2412-7326-9)

Online Check Ordering

Debit Card

Helpful Links:

Savings Dividend Rates

Calculators

Payroll Deduction

USE GENFED BILL PAYER WITH CONFIDENCE
PSCU Financial Services offers 24/7 Live Monitoring of Fraudnet Alerts

Thanks to PSCU Financial Services' commitment to the highest levels of security management, GenFed Federal Credit Union can offer online bill payment with confidence.

Through the cooperative's partnership with CheckFree, PayLynx subscribers gain the protection of FraudNet, an automated bill payment fraud detection and prevention solution.

Every online bill payment flows through FraudNet proir to being processed, allowing potentially fraudulent transactions to be identified and stopped before they are sent to the biller. A broad range of metrics are used to identify suspicious payments, including the identity of the user's computer and the IP address, geographical location, the biller's information and prior transaction behaviors.

In addition, PSCU Financial Services experienced fraud representatives will review all fraud alerts. The reps may place calls to a credit union or individual bill payment subscriber to validate a payment or other information. If a payment is determined to be fraudulent, the representative will cancel the payment and may deactivate the bill pay account, if warranted by the investigation.

Examples of transactions that would trigger a fraud alert are:

Suspicious or unusual transactions that do not conform to the subscriber's usual payment behavior.

Payment amounts that are large or uncharacteristic.

Unusual payment frequency (such as make three or more transactions to the same biller within 30 days)

Payments exceeding the threshold built around payment averages for specifically targeted industries.

Payments to billers added in the last 30 days.

Payment made to accounts with a negative history including: Social Security numbers, bank account numbers, biller account numbers and e-mail addresses

FraudNet complies with the FFIEC's guidance for multi-factor authentication, and is required solution for a dual sign-on (DSO) environment. All payments for PayLynx dual sign-on clients began flowing through FraudNet in November. FraudNet is an optional security enhancement for credit union's processing in a single sign-on (SSO) environment.

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