Online Banking

Financial Education

Financial Education Types of Accounts


Checking Out Share Draft Accounts

Some people spend more time picking out the design and color of their checks than they do shopping for the best deal on their checking account. They may find that while they're writing handsome checks, they're also paying a pretty penny for their accounts.

If you're shopping for a checking account, consider such things as how many checks you're likely to write a month (about 15 is typical), how much money you'll keep on balance in your account, and the type and size of other deposit accounts you have with the financial institution. You'll need this information to compare the following:

Minimum monthly balance. Most checking accounts require a minimum monthly balance to avoid service fees. Check how the minimum balance is figured--the method could make a difference in how much the financial institution charges you. The institution may waive the minimum balance requirement in your checking account if you keep a set amount of money in other deposit accounts there.

Interest rates. Some checking accounts pay interest if you keep a minimum balance in your account. The yield usually is lower than you'd earn in a savings account, but you'll also pay fewer service fees.

Fees and fines. Once you exceed your monthly transaction limit, there might be a fee each time you write a check or use your ATM (automated teller machine) card. If the financial institution offers "check cards," which you also can use as ATM cards, you may be charged an annual fee.

Surveys continually show you're likely to find the best deal on share draft/checking accounts at a credit union.


Online Bill Payment Helps You Control Your Bills

Online bill payment makes paying bills less painful, reduces the risk of identity theft, carries environmental perks, and even gives you greater control over paying off credit cards and other debts.

This versatile tool is Hopewell Federal's online bill payment service, and it's available for NO COST to you!


You can do it

Anyone with Internet access easily can learn to use online bill payment to manage money.

Online bill payment lets you automate payments to take place on a set date every month, schedule a bill for payment weeks before a specific date, or simply go online to make payments to be delivered in two to three days.


Tie payment to paydays

Since you can schedule payments for a specific date, you can tie payments to paydays. Just go online to alter the payment date or amount if your ability to pay changes before the payment is sent.

Even when you forget about a bill until it's due, online bill payment can help by minimizing the delay between when the payment is sent and when the recipient acknowledges its arrival, reducing late fees and interest charges.


Reduce risk

Online bill payment reduces the risk that ID thieves may steal envelopes containing payments from home mailboxes or while in transit.
That's important, because the account information printed on both bills and paper checks offers a wealth of data to identity thieves who could misuse the information to open accounts in your name.

Manage your debt

Online bill payment also can be a good strategy for reducing debt. One example is making extra online payments on loans at every payday.
Sign up for HFCU's online bill payment service today. You'll find that online bill payment is a convenient way to get control over your bills.


Helpful Calculators