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Checking Products

Credit Unions often call a checking account a “Share Draft” account. Checks and Share Drafts have the same purpose: each is a written order to pay. Checking Accounts (or Share Draft Accounts) may be joint accounts with the joint individual having the same privileges as the primary name on the account. A joint name may be added to the account by completing an updated membership application. Deleting a joint name is done in the same way. Additionally, members have numerous options of check styles and prices from Harland Clarke. When you open your account, a Member Service Representative will show you the options.

Land of Lincoln Credit Union offers a variety of Checking Accounts, each with different benefits and advantages. Details of each type of account are as follows:

Free Checking
  • No Minimum Balance Required. The member is not required to maintain a high balance in the account to avoid fees.

  • Unlimited Check Writing Privileges. There is no charge for each check the member writes.

  • No Monthly Service Charge. Most banks charge $5-$10 per month to maintain a checking account. Our members avoid this cost.

  • Overdraft Protection. The member has the option to automatically transfer funds from his/her primary savings account if the Checking account becomes overdrawn, with a nominal charge of $3. This occurs only six times in a month before the member will be charged an overdraft fee. The $5 (one share) in the savings account cannot be transferred to cover an overdraft. Overdraft fees will apply for each item paid using ODP.

  • Over Draft Privilege (ODP). This is a service that is provided to the members of LLCU depending upon the Checking Account for which they qualify. If their credit score is 580 or better, they will qualify for the Regular Checking Account. They will have ODP in the amount of $700.00. If their credit score is 470-579, they will qualify for the Basic Checking Account. They will have ODP in the amount of $300.00. Fraudulent codes from ChexSystems and NSF activity with money owed will disqualify a member for a Checking Account.

  • Over Draft Line of Credit. The member must complete an application and be approved for this loan.

  • Direct Deposit. Many members have the capability of having their pay deposited to their account electronically by their employer. LLCU will accept direct deposits from any company that will send it to us directly.

  • Monthly Statements. Members receive monthly statements that indicate deposits, withdrawals, ATM transactions, Lincoln Line transactions, cleared checks, fees, and any other transactions on the account. E-Statements are available to anyone enrolled in Home Banking by signing the disclosure form accepting E-Statements. If the member enrolls in E-Statements, they will no longer receive paper statements.

  • Carbonless Copy Checks. A carbonless copy is made with every check the member writes – thus cancelled checks are not returned to the member each month. Only in rare cases is it necessary to request a copy of the actual check.

  • ATM/Debit Cards. Available to each member pending individual approval.

  • Online Banking and Electronic BillPay. These services are available to all our members.

Share Draft Plus Checking
  • Interest Bearing Account. This account earns 0.10% interest monthly.

  • Same Benefits & Services of the Free Checking Account.

  • $500 Minimum Balance required. If balance falls below $500 any time during the month, a $5 service charge will be assessed and all interest will be forfeited. If the account balance remains at $500 or more for the entire month, interest is paid on the daily balance.

Amped Checking
  • Higher Interest Bearing Checking Account. Amped Checking pays interest according to the following tiers and is based on average daily balances:

    • $0 to $1,500 | 4%
    • $1,500.01 to $5,000.01 | 2%
    • Above $5,000.01 | 0.10% (save as savings rate)
  • Must be enrolled in Home Banking. (Online Banking)

  • Must be enrolled to receive e-Statements.

  • Must have 20 Debit Card transactions per month. Transactions can be signature-based or PIN transactions.

  • No Minimum Balance Required. However, if the account is not enrolled in Home Banking, e-Statements AND have 20 monthly debit card transactions, a $5 monthly fee will incur and interest will be waived.

Premier Advantage Checking
  • Premier Advantage Checking is exclusive to LLCU members 50 years of age and over. The account offers valuable discounts, bonuses, and services to these members.

  • Requirements for joining the Premier Advantage Club are as follows:

    • Member must be either 50 years of age or retired.
    • Member must have Direct Deposit of entire Social Security/Pension Check or Direct Deposit of net check into their Premier Advantage Checking.
  • Premier Advantage members receive the following benefits:

    • Interest bearing account with a balance of $500 or more.

    • Free Checks – Premier Advantage Style (one box per order).

    • Free Copier Service (up to 10 copies per month).

    • Free Check Imaging with e-Statements.

    • Direct Deposit Convenience.

    • Free Notary Service.

    • Bonus Certificate Rate (Bonus 0.10% APR).*

    • Emergency No Penalty Withdrawals (for Medical, Educational or Purchase of Home).

*Excludes Jumbo Certificates and special promotion Share Certificates.

Fresh Start Checking
  • Fresh Start Checking is designed to help members rebuild their credit. We understand that bad things can happen to our members. We believe that everyone deserves a fresh start. This account can be opened even if the ChexSystem report shows they have unpaid balances at other financial institutions. (No more than 3 unpaid closures).

  • Financial Counseling and Advice offered. Ongoing financial literacy is available and offered to Fresh Start members through the BALANCE™ Program.

  • No check digit is distributed and no checks are ordered. However, members with a Fresh Start account will have a debit card for the account.

  • Proper check cashing and handling policies will be strictly followed. This is due to the high risk assumed by the credit union on these types of accounts.

  • Fresh Start is a stepping stone account. If the account is held in good standing and the member pays the balance owed to other financial institutions, they will qualify for a Basic or Regular Checking account, depending on their credit score.

Business Checking
  • Traditional Business Checking Account. This account is ideal for smaller businesses with fewer monthly expenses.

  • Nominal Monthly Fee. For the small fee, get up to 150 checks, withdrawals, debits, deposited items or other credits per month.

  • Free Online BillPay. For up to 25 transactions per month.

Business Advantage Checking
  • Business Advantage Checking. This account is ideal for businesses with larger balances and more payables each month.

  • Interest Bearing Account. Earns interest on balances of $10,000 to $24,999 and even more on balances of $25,000 and above.

  • Nominal Monthly Fee. Assesses a small fee and service charge per check, withdrawal, debit, deposited item or other credits, per month.

  • Free Online BillPay. For up to 25 transactions per month.