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Truity Credit Union Blog > August 2021 > CEO Connect - Debit Card Usage

CEO Connect - Debit Card Usage

  • 8/20/2021

We now offer three different checking accounts to meet your payment transaction needs. The “Preferred Checking” account is our most popular checking account. It includes new features such as a discount on consumer loans, identity theft recovery services, credit and dark web monitoring and mobile phone coverage. There is a $5 monthly service charge for this account, but the fee can be avoided if you use your debit card at least 20 times per month.  

We also offer the “Essential Checking” account for members that do not want the features or do not use their debit card very much. This account has a $3 monthly service charge which can be avoided if you use your debit card only five times per month. This fee may also be avoided if you have a few other loans and/or savings accounts with Truity Credit Union.  

A few members have questioned why we are encouraging debit card usage. We have encouraged debit card usage and discouraged ATM usage since 2010 when we implemented an ATM surcharge rebate for members that used their debit card. Using your card at an ATM costs at least 48 cents per withdrawal. When you use your debit card to purchase an item, we receive an interchange fee from the merchant. Members that use their debit card 20 times, or more, are already creating income for Truity Credit Union that is used to offset the costs of maintaining the checking account service.   

The average checking account member uses their debit card 25 times per month. Please consider using your debit card instead of writing a check or using cash to pay for your purchases. The debit card has the same safeguards as using a credit card and it is much safer than carrying cash.   

To learn more about our checking account features, click here.  

Dennis Halpin, President/CEO

Routing Number: 303184652


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