Free Checking is Here!

Dear members,

Cooperative Federal has a revised Fee Schedule effective 6/4/2024. The new fee schedule removes or reduces several items such as:

  • ·Monthly Checking Fees – These are now automatically waived if your checking account has at least one ACH deposit in the last 31 days. This includes direct deposit or other electronic payments to your account. 
  • ·Overdraft Transfer Fees – We no longer charge service fees when you use automatic transfers between accounts (e.g. from savings to checking) to cover an overdraft.
  • ·Returned Item Fees – If a debit to your account is returned (rejected) due to insufficient funds, you will now only receive one Returned Item Fee per item within 14 days. This means that if the same payee tries to take the same dollar amount again but your account balance is still too low, you won’t be charged the fee again within 14 days of the original presentment. This change was implemented 3/4/2024.

In addition, we now offer counter checks (a sheet of 4 checks that you can use to make payments from your checking account) for $3 per sheet.

CoopFed has been able to make these changes thanks to the capabilities of our new core system! We look forward to continued improvements as we work to bring fair, affordable, and ethical financial services to our growing membership. Tell your friends and family that now is the time to switch to Cooperative Federal!


Cooperative Federal’s Management Team​​​​