Welcome Back Checking Account FAQs

• Can I apply with a previously forced-closed Welcome Checking account?

  No. Applicants cannot have a previously charged-off or forced closed Welcome Checking account.

• Will applicants still be eligible for Courtesy Pay?

  Applicants and members are not eligible for Courtesy Pay. They may be eligible for overdraft from savings accounts or lines of credit.

• Are applicants eligible for Remote Deposit Capture and Mobile Banking?

  Applicants or members are not eligible for Remote Deposit Capture or Mobile Banking. Banking through the website is allowed.

• Who can open a Welcome Back Checking account?

  Applicants must be WFCU members in good standing or become a member by opening and maintaining a savings account with a minimum account balance of $5.00. They must be at least 18 years old and meet the account eligibility requirements.

• Can I apply if I still have unpaid checking balances?

  The applicant, at management’s discretion, may have no more than $250.00 in unpaid closures in at least a 12-month period.

• What does "good standing" mean?

  “Good standing” requires no more than $250.00 in unpaid closures in the past 12 months, all charged-off WFCU loans to be repaid in full, and no previous charged-off or forced-closed Welcome Back Checking account. WFCU reserves the right to refuse an applicant.

• What is the minimum deposit to open the account?

  $50.00 is required as an initial deposit.

• Is there a minimum balance requirement?

  No minimum balance is required after the initial deposit.

• Do I have to open the account in person?

  Yes. Welcome Back Checking accounts must be opened in person.

• Can I earn dividends on this account?

  No. Dividends are not paid on Welcome Back Checking accounts.

• How can I make deposits?

  Deposits can be made:

  • In person at WFCU branches

  • By mailing a check to a branch

  • Through direct deposit (full or partial)

  • By wire transfer (fees apply)

  • Using WFCU-owned ATMs or night drop boxes

  • Via Zelle

• Are there limits on transfers from savings to cover overdrafts?

  Yes. A maximum of six (6) automatic transfers per calendar month from savings is allowed under Regulation D.

• Can I open another Welcome Back Checking account if mine is closed?

  No. Welcome Back Checking is a one-time product. If your account is charged off or forced closed, you are not eligible for another.

• How will I receive my monthly statement?

  The preferred method is eStatements. Paper statements are available for a monthly fee, except members aged 70 or older are exempt from this fee.

• Is my account insured?

  Yes. Accounts are federally insured by the National Credit Union Administration (NCUA) up to at least $250,000.

• Can I set up a direct deposit for a Welcome Back Checking account?

  Yes, you can direct all or part of your paycheck to your account and have the option to split your deposit between savings, loan payments, and checking.