705 Checking
705 FCU offers hassle-free checking accounts to all of our members, and FREE basic-style checks to our members who are senior citizens (65 and over).
Below are a few more details about the convenient checking account services that we offer:
Teen Checking Account
Teen Checking
The 705 Teen Checking is offered to members ages 13 – 17. Help your teen learn how to manage their money with a teen checking account!
- The teen must have a savings account with 705 FCU in order to get a teen checking account.
- An adult must be on the account as a joint signer. (If the account goes negative, the joint member is responsible for bringing the account current.)
- Debit cards are available for teen checking accounts.
- Free E-Products: Online Banking, Account Alerts, Bill Pay, E-Statements, Mobile Banking, and My $ Planner
- No minimum balance is required and no monthly service charge.
- Control the places your teen uses their debit card with Card Valet!
- See disclosures.
Regular Checking Account
Regular Checking Account
This is our general checking account option offered to qualifying members.
- No minimum balance is required.
- No monthly service charge.
- Seniors (65 and above) can take advantage of free basic style checks!
- Free E-Products: Online Banking, Account Alerts, Audio Response, Bill Pay, E-Statements, Mobile Banking, and My $ Planner
- See disclosures.
Kasasa Cash Back® Checking
Free Kasasa Cash Back® Checking
Enjoy cash back on debit card purchases and refunds on ATM withdrawal fees.*
Benefits
- Free checking that pays you back
- 4.00% cash back on debit card purchases*
- No category restrictions on purchases
- Cash back earned on up to $250 in purchases monthly
- Earn up to $120 cash back per year, $10 per month
- Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)*
- Link to free Kasasa Saver® to build savings automatically
- No monthly maintenance fee
- No minimum balance to earn rewards
- Free debit card
- Free e-services, including:
- Online banking
- E-statements
- Mobile banking
- And more
- Shared branching also available
- No minimum deposit to open
Here’s how easy it is to earn your rewards:
Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash Back account during each Monthly Qualification Cycle:
- At least 12 debit card purchases
- At least 1 direct deposit, ACH payment, or bill pay transaction(s)
- Be enrolled in and agree to receive e-statements
And if you don’t meet these qualifications, don’t worry — your account is still free.
And you can get right back to earning your cash rewards the very next cycle that you qualify.
Qualification Information:
- Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our credit union as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
- “Monthly Qualification Cycle” means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle.
- See our website at www.section705fcu.org/contact or call 337-232-8450 to contact one of our branch service representatives for specific Monthly Qualification Cycle dates.
Reward Information:
- When Kasasa Cash Back qualifications are met during a Monthly Qualification Cycle, you will receive 4% cash back on up to a total of $250 PIN-based/signature-based debit card purchases that post and settle to the account during that cycle period. A maximum of $10 cash back payments may be earned per Monthly Qualification Cycle.
- You will receive reimbursements up to an aggregate total of $25 for nationwide ATM withdrawal fees incurred within your Kasasa Cash Back account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.
- When your Kasasa Cash Back account qualifications are not met, no cash back payments are made and ATM withdrawal fees are not refunded.
- The cash back payments and nationwide ATM withdrawal fee reimbursements earned in your Kasasa Cash Back account will be credited to your Kasasa Saver account on the last day of the current statement cycle.
- Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to you. No minimum balance is required to earn or receive the account’s rewards. Rewards less than a penny cannot be distributed.
Additional Information:
- Membership restrictions may apply.
- Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
- No minimum deposit is required to open the account.
- Enrollment in e-statements is a condition of [this/these] account(s).
- Enrollment in electronic services ( e-statements) may be required to meet some of the account’s qualifications.
- Monthly Direct Deposit/ACH credit/Bill payment and e-statements are conditions of this account.
- Limit of 1 account(s) per social security number.
- There are no recurring monthly maintenance charges or fees to open or close this account.
- A Kasasa Cash Back account is required to have a Kasasa Saver account.
- A linked Kasasa Saver account is required for automatic savings.
- Advertised information and rewards are based on all account qualifications being met during each cycle period.
- Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
- Federally insured by NCUA.
Trademarks:
- Kasasa, Kasasa Cash Back and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.
Kasasa Cash Checking
Free Kasasa Cash® Checking
Enjoy high dividend earnings and refunds on ATM withdrawal fees.*
Benefits
- Free checking that pays high dividends
- 4.00% APY* on balances up to $15,000
- 4.00% to 0.74% APY on balances over $15,000 depending on balance in account*
- 0.05% APY* if qualifications aren’t met
- Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)*
- Link to free Kasasa Saver® to build savings automatically
- No minimum balance to earn rewards
- No monthly maintenance fee
- Free debit card
- Free e-services, including:
- Online banking
- E-statements
- Mobile banking
- And more
- Shared branching also available
- No minimum deposit to open
Here’s how easy it is to earn your rewards:
Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash account during each Monthly Qualification Cycle:
- At least 12 debit card purchases
- At least 1 direct deposit, ACH payment, or bill pay transaction(s)
- Be enrolled in and agree to receive e-statements
And if you don’t meet these qualifications, don’t worry — your account is still free.
Plus, you’ll still earn our base rate. And you can get right back to earning your full rewards the very next cycle that you qualify.
Qualification Information:
- Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our credit union as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
- “Monthly Qualification Cycle” means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle.
- See our website at www.section705fcu.org/contact or call 337-232-8450 to contact one of our branch service representatives for specific Monthly Qualification Cycle dates.
Reward Information:
- When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, average daily balances up to and including $15,000.00 in your Kasasa Cash account earn a dividend rate of 3.928% resulting in an APY of 4%; and average daily balances over $15,000.00 earn a dividend rate of 0.249% on the portion of the average daily balance over $15,000.00, resulting in a range from 4% to .74% APY depending on the account’s average daily balance.
- You will receive reimbursements up to an aggregate total of $25 for nationwide ATM withdrawal fees incurred within your Kasasa Cash account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.
- When your Kasasa Cash qualifications are not met, the dividend rate earned on the account’s entire average daily balance will be 0.0499% resulting in an annual percentage yield of 0.05% and ATM withdrawal fees are not refunded.
- Dividends will be credited to your Kasasa Cash account on the last day of the current statement cycle.
- Nationwide ATM withdrawal fee reimbursements will be credited to your account on the last day of the current statement cycle.
- APY = Annual Percentage Yield.
- APYs accurate as of 06/01/2021.
- APY calculations are based on an assumed balance of $15,000.00 + $100,000 in your Kasasa Cash account and an assumed statement cycle of thirty-one (31) days.
- Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to you. No minimum balance is required to earn or receive the account’s rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
Additional Information:
- Membership restrictions may apply.
- Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
- No minimum deposit is required to open the account.
- Monthly Direct Deposit/ACH credit/Bill payment and e-statements are conditions of this account.
- Enrollment in e-statements is a condition of [this/these] account(s).
- Enrollment in electronic services (e.g. e-statements) may be required to meet some of the account’s qualifications.
- Limit of 1 account(s) per social security number.
- There are no recurring monthly maintenance charges or fees to open or close this account.
- A Kasasa Cash account is required to have a Kasasa Saver account.
- A linked Kasasa Saver account is required for automatic savings.
- Advertised information and rewards are based on all account qualifications being met during each cycle period.
- Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
- Federally insured by NCUA.
Trademarks:
- Kasasa, Kasasa Cash and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.
Simplify Your Checking
Make Your Life Simple with these Checking Account Tools!
Life can be so BUSY! Simplify your checking account with these free and easy tools offered by your credit union.
- Safety Net: We have three options, so your account never goes into the red!
- You are able to write unlimited checks.
- Debit Card
- Direct Deposit
- Automatic Transfers
- E-Services: Go green with our E-Services (Online Banking, Bill Pay, E-Statements, and Mobile Banking.)
- My $ Planner: Checking out this free budgeting tool located within our Online Banking.
If you have specific questions, please contact the credit union.
Have an idea for a product or service you think would be great for the credit union? Email Emily! We won’t know unless you tell us.
Debit Cards
Swipe & Go!
Debit cards have become very popular in the last few years, because of convenience and direct access to funds. When you make a purchase, the payment will actually come directly from your available share draft (checking) account balance! This means no more fumbling around at the register for cash or wasting time writing checks…simply swipe & go! Debit cards can be used at any ATM that accepts the 
logo to make cash withdrawals.
Free ATM Locations
Find an ATM Wherever You Go!
We do NOT want you to be charged for getting your money. That’s why the credit union has a few options for access to your funds.
- Local ATMS: 705 has teamed up with 10 plus credit unions in the Acadiana area. You can go to these credit unions surcharge free.
- ATM Networks: Out of town? You can visit one of the ATMs in the Money Pass and Pulse Select network. Download the App (for iPhone and Android) or visit the websites listed below for locations.
- COOP Shared Branch: Out of town or on the other side of town? Visit one of the several Shared Branching locations in the Acadiana Area and thousands in the nation. Click here for the details to utilize this awesome, FREE service. Visit the website or download the iPhone or Android app for your convenience.
Debit Card is Lost or Stolen
Debit Card Mishaps!
We
know how stressful and unfortunate it is to get your debit card compromised. Please be diligent about reviewing your statement and/or Online Banking account. Do not hesitate to call if you believe that your card has indeed been compromised. We will walk you through necessary steps that need to be taken to resolve this issue.
- If lost or stolen, contact VISA at 1-800-472-3272 immediately, so they can put a freeze on your account.
- NOTE: We strongly recommend using a credit card for online shopping, because it is much easier to dispute fraudulent charges.
- Learn more by visiting 705 checking and debit cards.
Going out of town?
When going out of town:
- For security, please inform the credit union when you are going out of town (both international and within the U.S.)
- Provide us with the dates of travel and destination of travel.
- Reason: Securing your money is a top priority at 705 FCU. To do this, we must monitor the risks for you and adjust our policies accordingly. Due to an unfortunate rise in debit card fraudulent activities, all debit card usage for international travel has been hindered. If you are traveling out of the country or in need of international purchases on your debit card, you will simply have to contact 705 FCU in advance to advise us of your whereabouts.
Resources
- See all the account services 705 has to offer to make your life easier.
- A Branch in Your Pocket! Before you go out of town, get our mobile banking app.
- Want to financial tips regularly from your credit union? Connect with us on Facebook, Instagram, Twitter, or YouTube.
Vacation Tip: Begin planning vacations or trips that you’ll be taking EARLY. Planning ahead can save you money and you might be able to stretch your budget further just by booking hotel rooms and airline tickets further in advance.
Debit Card Details
The Details on Your Debit Card!
Debit Cards are a wonderful option for those of you who want instant access to the funds in your checking account. This direct link allows you to get cash from ATM’s all over the U.S. and for simple payments at the grocery story.
- You may withdraw up to a maximum of $600 in any one day from an ATM if funds are available.
- You may purchase up to $2,500 in any one day (exceptions above apply) if funds are available.
- No monthly fee
- Unlimited usage other than daily dollar limits
Helpful tools:
- ATM Locations
- ATM Networks: 705 FCU is in two ATM networks where you can go ATM’s for FREE. See details about Money Pass and Pulse ATM Network (choose Select.)
- Safety Net Products for Your Checking
- CO-OP Shared Branching
Card Management
A Better Card Experience at Your Fingertips!
Do Even More from a Single Convenient Platform.
Try Card Management Today within the 705 Mobile Banking App!
Ready for an easier way to manage your cards? Our upgraded card experience puts more control, convenience and safety in your hands. From instant card activations to clearer merchant transaction info to robust fraud protections, now you can do even more from one convenient place. Read about these great features below!
With your new and improved card experience, you can:
- Feel more empowered. Control your cards on your terms. Turn your cards on/off at your discretion. Know where every card is stored online. Set spending limits based on location, amount, merchant type and transaction type. Create travel plan notifications for your financial institution. Easily dispute transactions.
- Discover more convenience. Enhanced features enable a smoother user experience. Enjoy 24/7 access to your cards. Easily add cards to digital wallets. Access card credentials without needing your physical card. Withdraw cash from ATMs without needing your card. Activate cards instantly so there’s no more waiting on new or replacement cards. Apply for and receive a digital card instantly. View, manage and redeem rewards.
- Find more clarity. Deeper insights into spending means deeper understanding. Gain total transparency into every transaction with clear merchant names. Keep track of spending with a glance. View merchant name, logo, exact location on map, and contact information. Contact merchants directly based on transactions. View spending by what, when, and where.
- Feel more secure. Use your card confidently with uncompromising fraud protection. Report lost or stolen cards in a couple of clicks. Immediately turn off a lost or stolen card. Keep in constant communication with your financial institution with two-way fraud alert.
Discover the Power!
Data charges may apply. Check with your mobile phone carrier for details. App Store is a service mark of Apple Inc. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Android, Google Play and the Google Play logo are trademarks of Google Inc. Read the Mobile Banking Privacy Policy here.
Copyright © 2022 . All rights reserved.
Safety Net
Make a Plan with a 705 Checking Account Safety Net Product!
OVERDRAFT COVERAGE OPTIONS: OVERDRAFT PROTECTION AND OVERDRAFT PRIVILEGE
Life happens! 705 Federal Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.
Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:
|
Service |
Cost |
|
Overdraft Protection Link to Another Deposit Account you have at 705 Federal Credit Union1 |
$10 fee per transfer |
|
Overdraft Protection Line of Credit1, 2 |
Subject to $5 transfer fee + interest |
|
Overdraft Privilege |
$27 Courtesy Pay Fee per item* |
1Call us at (337) 232-8450, email us at email@705fcu.com, or come by our office to sign up or apply for these services; 2subject to credit approval.
2 subject to credit approval
*Per item presented means each time an item is presented, including representment
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at 705 Federal Credit Union for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the “What Else You Should Know” section included with this disclosure for other important information.
|
Transactions Covered with Overdraft Privilege |
Standard Coverage |
Extended Coverage (Your consent required) * |
If you would like to select Extended Coverage for future transactions: · Call us at (337) 232-8450. · Complete the online consent form found at here. · Visit our office. · Complete this consent form and mail it to us at 1455 West Willow Street, Lafayette, LA 70506 · E-mail us at email@705fcu.com. |
|
Checks |
X |
X |
|
|
ACH – Automatic Debits |
X |
X |
|
|
Recurring Debit Card Transactions |
X |
X |
|
|
Online Bill Pay Items |
X |
X |
|
|
Teller Window Transactions |
X |
X |
|
|
ATM Transactions |
|
X* |
|
|
Everyday Debit Card Transactions |
|
X* |
*If you choose Extended Coverage, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage.
What Else You Should Know
- A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.
- The $27 Courtesy Pay Fee that is charged if you overdraw your account is the same fee that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Courtesy Pay Fee or a Return Fee of $27. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
- For consumer accounts there is no limit on the total Courtesy Pay Fees per day we will charge.
- Recipients of federal or state benefits payments may choose to pay the outstanding balance and the fee for overdrawing your account by stopping by our office. If you do not wish us to deduct the amount overdrawn and the fee for the overdraft from funds that you deposit or that are deposited into your account, please call us at (337) 232-8450.
- If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, 705 Federal Credit Union (“We”) will charge a Return Fee each time we return the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, charge a Courtesy Pay Fee. Because we may charge a Return Fee each time an item is presented, we may charge you more than one fee for any given item as a result of a returned item and representment of the item. When we charge a Return Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft. If, on representment of the item, the Available Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, charge a Courtesy Pay Fee. We may use the terms “item” and “transaction” interchangeably.
- This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post credits before debits. Paper checks are posted in serial number order; ATM and debit card transactions post in real time and ACH items post in the order received; however, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Courtesy Pay Fees or Return Fees assessed. Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
- Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.
- We may be obligated to pay some debit card transactions that are not authorized through the payment system but which we are required to pay due to the payment system rules, and as a result you may incur fees if such transactions overdraw your account. However, we will not authorize debit card or ATM transactions unless your account’s Available Balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
- Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Courtesy Pay Fees for transactions that we would otherwise be required to pay without assessing a Courtesy Pay Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.
Understanding your Available Balance: Your account has two kinds of balances: the Ledger Balance and the Available Balance.
- We authorize and pays transactions using the Available Balance in your account.
- Your Ledger Balance reflects the full amount of all deposits to your account as well as payment transactions that have been posted to your account. It does not reflect checks you have written and are still outstanding or transactions that have been authorized but are still pending.
- Your Available Balance is the amount available to you to use for purchases, withdrawals, or to cover transactions. The Available Balance is your Ledger Balance, less any holds due to pending debit card transactions and holds on deposited funds.
- The balance used for authorizing checks, ACH items, and recurring debit card transactions is your Available Balance plus the amount of the Overdraft Privilege limit and any available Overdraft Protection.
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Standard Coverage is your Available Balance plus any available Overdraft Protection but does NOT include the Overdraft Privilege limit.
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended Coverage is your Available Balance plus any available Overdraft Protection and includes the Overdraft Privilege limit.
- Because your Available Balance reflects pending transactions and debit holds, your balance may appear to cover a transaction but later upon settlement it may not be sufficient to cover such transaction. In such cases, the transaction may further overdraw your account and be subject to additional overdraft fees. You should assume that any item which would overdraw your account based on your Available Balance may create an overdraft. Note that we may place a hold on deposited funds in accordance with our Membership Account Agreement and Disclosure, which will reduce the amount in your Available Balance.
- Please be aware that the Overdraft Privilege amount is not included in your Available Balance provided through online
- banking, mobile banking or 705 Federal Credit Union’s ATMs.
- We will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the Available Balance in your account. If your account is overdrawn after the held funds are added to the Available Balance and the transaction is posted to the Available Balance, a Courtesy Pay Fee may be assessed.
- Except as described herein, we will not pay items if the Available Balance in your account (including the Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
- We may also suspend your debit card if your loan is delinquent more than 10 consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient payments so that your loan is current.
- We may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
- If your debit card is suspended, you will be unable to use your debit card(s) for purchases or to access your account(s) associated with the debit card(s) at the ATM while your debit card is suspended. If you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
Understanding Overdraft Privilege Limits
- New consumer checking account will receive a $100 Introductory Overdraft Privilege limit at account opening that will be increased to $500 after 35 days in good standing.
- Overdraft Privilege may be reduced if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Overdraft Privilege limit reinstated.
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (337) 232-8450 or visit a branch.
You can discontinue Overdraft Privilege in its entirety by contacting us at (337) 232-8450 or sending us an e-mail at email@705fcu.com.
