About 14 million adults in the U.S. do not have a checking account with a credit union or bank. Whether this is by choice or because they don’t think they qualify to open an account, they end up missing out on many financial services that make life easier. For instance, instead of using a credit union to cash their paychecks, they use check-cashing stores like Check into Cash or retailers like Walmart, which charge a fee of 1% to 6% of the check amount.

In addition, people without a credit union account don’t have a safe place to keep their funds, are less likely to qualify for loans, and can’t earn interest on the money they save.

There are many other conveniences to having a checking account:

• Access to a debit card with cash back rewards.
• Get checks to pay your bills.
• Be able to pay bills online.
• If your employer offers direct deposit, you can have your paychecks automatically deposited into your account. This means you will get your money faster. You won’t need to go to a credit union or ATM to make the deposit.
• You can cash just a portion of your paycheck and leave the rest in your account. This way you won’t have to carry large amounts of cash on you.
• Your money will be safe in your account from theft, fire, or loss. It’s also insured, so if something should happen to the credit union, your money is covered up to $250,000.

With Velocity Community, you can get a checking account with a low monthly fee of $5.00 as a Member or completely FREE as MemberPLUS. And when you become a member, you become a co-owner of the credit union. Some of the perks are lower loan rates and higher savings rates. You can get better ranks at Velocity Community than at banks or other financial institutions.

To get started, go online at VelocityCommunity.org or contact one of our Member Representatives at (561) 775-2525.