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ElecTel Cooperative Federal Credit Union
Checking Accounts
Checking - The ElecTel Cooperative FCU Checking Advantage

Everyone needs a checking account from ElecTel Cooperative FCU. It's convenient, affordable, and it brings the credit union closer to you.

With an ElecTel Cooperative FCU checking, you save...

  • NO minimum balance required
  • NO service charges
  • NO per check fees
  • NO other hidden fees or charges
  • FREE home banking and bill pay
  • Overdraft protection from your regular savings account or approved line of credit
  • Payroll deduction/direct deposit 
  • Immediate access to savings withdrawals or loan advances
  • Overdraft privilege up to $500 

Overdraft Privilege

You are provided a special overdraft privilege for your checking account. In the event you overdraw your checking account, your transaction will be covered. To cover the cost of providing this service, we charge a $23 (per item) courtesy fee. Overdraft Privilege provides you with a safety net up to $500. You may opt out of this service by contacting our Member Services Department at 1-800-849-5600.

Go ahead and make the switch today. Just complete a few simple forms. Click here!


Debit Card

The next best thing to having an ElecTel Cooperative FCU checking account is having the card that goes with it - our VISA Debit card. It's our most exciting and versatile service! Our VISA Debit card is like a check, ATM card, and Visa all rolled into one, and it puts the credit union right in your back pocket!

Benefits of your ElecTel Visa Debit Card:

  • NO finance charges
  • NO annual fee
  • Charges will post immediately to your checking account
  • Deposits to your checking account will be credited to your card immediately
  • Use it for purchases (with your pin) at participating merchants and get cash back, avoiding ATM fees and surcharges
  • Easy record keeping (your transactions show up in detail on your monthly checking account statement)
  • Overdraft privilege available
  • Daily purchase limits up to the current amount in your checking account

Call today and talk to one of our Member Service Representatives at 1-800-849-5600, or stop by any of our branches. We will be happy to assist you!

Overdraft Protection

ElecTel Cooperative FCU offers overdraft protection to protect you from costly mistakes such as mathematical errors when balancing your account or failing to record a check or ATM withdrawal. Overdraft protection is valuable for many reasons:

  • Provides peace of mind. Your overdraft protection will transfer funds when needed.
  • Saves you money. Why pay returned check charges, which could be as much as $40, when overdraft protection is available?
  • Serves as a ‘backup.’ Mistakes happen all the time. Overdraft protection makes sure your mistakes are protected.
  • Immediate action. Funds are transferred immediately to cover your check. In addition, we mail a notice the following business day after the check is ‘covered,’ detailing exactly what check was paid, the amount and how the overdraft was affected.
  • Many different options. Use a line of credit loan, a savings account, or a combination of both as your overdraft protection. We strongly endorse using a line of credit as your primary means of overdraft protection due to Federal Reserve restrictions on savings account transfers.

Overdraft protection is the type of protection your account deserves. Add it today! Apply online today, or call our loan department at 1-800-849-5600.


Overdraft Privilege

When there's not quite enough in your checking account...

At times, a mistake, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to non-sufficient funds (NSFs) can be an embarrassing and humiliating experience.
ElecTel Cooperative FCU encourages you to manage your accounts responsibly and we do not encourage "overdrafts" or NSFs that would take your account into the negative. However, we want to help you avoid the embarrassment, additional merchant fees, or damage to your credit history that could result if a check is returned.
That's why we are providing Overdraft Privilege, a special overdraft (NSF) product for your ElecTel Cooperative FCU Checking Account. This is a non-contractual courtesy, and normal NSF fees do apply. Overdraft Privilege will be offered up to an amount of $500 to members in good standing. This service will only apply after we have attempted to draft (to cover your check) from your share account, any other linked share accounts, and your overdraft line-of-credit.

For more information on Overdraft Privilege, or if you would like to opt out of this service, please call a Member Service Representative at 1-800-849-5600 or email us at

Check 21

Remember the good old days when you could assume a few days 'float' time between when you write your check and when the funds came out of your checking account?  Well, with the new Check Clearing for the 21st Century Act (Check 21) now in effect, checking float has become obsolete.

With Check 21, your checks will now clear in hours rather than days. Don't get sunk with overdrafts!  We're here to help with several service options associated with our checking accounts.

Auto Transfer - Set up your account to withdraw from your Share Savings or Money Market account in the event of an overdraft from your checking account.

Overdraft Line of Credit - Your own personal line of credit up to $20,000 used in $100 increments as checks or debits pass through your checking account and sufficient funds are not available.  Use this line of credit to cover overdrafts at anytime. Our line of credit is available on approved credit, with low rates and easy repayment terms.

Overdraft Privilege - This service saves you the additional expense and inconvenience of overdrafting your checking account. With Overdraft Privilege, we'll pay your qualified overdrafts up to a total of $500, which must be brought to a positive balance within 30 days to continue qualification for this service. There is $20 per-usage fee for this service and certain conditions apply.  Contact our Member Services Department for further details at 1-800-849-5600.
Questions and Answers about Check 21 and Substitute Checks

What is Check 21?  The official name of Check 21 is "Check Clearing for the 21st Century Act". The new Act was passed by Congress in the summer of 2003 and signed into law by President Bush on October 28, 2003. The new law went into effect on October 28, 2004. Check 21 provides for the creation of a new negotiable instrument known as a "Substitute Check".

What are the benefits of the new Act? There are several benefits that will be realized for both credit unions and credit union members including:

  • Provides for faster collection, return of check
  • Eliminates the risk of transporting documents (transportation risks, weather, etc.)
  • Removes the legal barriers to truncation, encouraging financial institutions to begin using image technology
  • Improves the efficiency of the U.S. payment system

What is a Substitute Check? A Substitute Check is a paper reproduction of the original check. The Substitute Check is created from an image of the original check and also must:

  • Obtain an image of the front and back of the original check;
  • Bear a MICR line containing all the information appearing on the MICR line of the original check;
  • Conform in paper stock, and otherwise with generally applicable industry standards for Substitute Checks; 
  • Be suitable for automated processing in the same manner as the original check.

Substitute Checks have been referred to as IRDs or Image Replacement Documents. The terms are interchangeable but the Act specifically refers to these new items as Substitute Checks.

Is a Substitute Check a real check? If a Substitute Check meets all the legal requirements of the original check, then the Substitute Check is indeed a real check and possesses the same legal equivalence of the original check.  No financial institution can refuse to pay a Substitute Check.

When could a Substitute Check be received? You could possibly see a copy of a Substitute Check when a copy is requested or when you're reviewing images of your checks.  You may also come into contact with a Substitute Check when a deposited check is returned to you.  The returned deposited check may have been converted to a Substitute Check.  This document is a legal document and must be accepted.

What happens to the original check? At some point in the processing of the check, the original item will probably be destroyed. The destruction will occur once an electronic image of the original has been obtained. Each financial institution will determine their retention policy for the original check.

What does truncation mean?
Truncation occurs when an original paper check is removed from the collection process. The check's information is stored electronically and the original check is destroyed. Members who do not receive original checks back with their account statement have what is known as truncated accounts.

What type of checks can become Substitute Checks? Every type of U.S. Check can become a Substitute Check including:

  • Consumer Checks
  • Business Checks
  • Government Warrants
  • Treasury Checks
  • Money Orders
  • Controlled Disbursement Checks
  • Payable Through Drafts
  • Traveler's Checks

Do we have to accept Substitute Checks? YES! Everyone, including banks, credit unions, paying customers, depositing customers, consumers, corporations, the Fed, must accept a legitimate Substitute Check for payment.

What do I do if I have a problem/error with a Substitute Check? At ElecTel Cooperative FCU, each check you write includes a carbon copy. As a result, you do not receive your original checks back in your account statement. Therefore, any problems/errors can be handled by ElecTel Cooperative FCU just like any other error including encoding errors, etc. Please contact our Member Service Department for additional details at 1-800-849-5600.


Main Office: PO Box 27306, Raleigh, NC 27611
919-872-2395 | 800-849-5600 | fax: 919-876-8018