Freedom from Fees: Typical charges you won’t find at Arsenal
Some of our competitors like to hit you with fees whenever they can. We don’t play that game. Here are just a few of the fees our competitors charge that we don’t:
No minimum balance fee on savings accounts
Some financial institutions charge a monthly fee (up to $8.00) if you don’t keep a minimum daily balance (usually a high amount, such as $300-$500) in your savings account. At Arsenal, your initial $5 deposit into a savings account establishes and maintains your membership/ownership in the credit union.
No minimum balance fee on Totally Free Checking
While most financial institutions are doing away with this, we still offer a checking account that is 100 percent free to use. There are no direct deposit or outrageous minimum average daily balance requirements to meet.
No minimum balance requirement on money markets
Many of our competitors charge you if your money market dips below a certain amount. At Arsenal, you won’t incur any fees.
No loan application fee
You could spend up to $125 just applying for a loan at some financial institutions. Applying is free at Arsenal, and you can do it through your Online Applications tab of your online banking account.
No closing costs* on home equity loans and lines of credit
Closing costs on a home equity loan or line of credit often include attorney or title company representative fees, a title search, document preparation, application fee and an appraisal. Closing costs typically run from $500 to $1,500, but we take care of these for you.
No balance transfer fees
Have a balance on a high-interest credit card elsewhere? You can transfer that balance to an Arsenal Visa® Platinum credit card with a lower interest rate for free. Most card issuers charge 3 to 5 percent of the balance you’re transferring. For example: If you transferred a $10,000 balance to another card and it had a 5% balance transfer fee, your new balance would be $10,500.
No cash advance fees
On top of charging you interest, many financial institutions tack on a fee for getting a cash advance with your credit card. At Arsenal, a cash advance is treated like any other transaction.
No fees at more than 250 local and nearly 30,000 nationwide CO-OP Network ATMs
It’s your money. Don’t pay fees to get it out of an ATM. Find a free ATM anywhere in the country using the CO-OP ATM locator.
We strive to make all of the fees we do charge clear and transparent. View them in this handy table.
*ACU may pay closing costs for home equity loans or lines of credit. If the borrower repays the loan within the first 12 months, the borrower must reimburse the credit union for the closing costs. Borrower is responsible for obtaining and paying for comprehensive insurance to cover the value of the real estate. Your interest may even be tax deductible; check with your tax advisor.