Simple Checking Account Simple Checking is a good alternative for someone who wants a basic checking account without a lot of conditions. It has a low monthly fee, and no minimum balance requirment.(Monthly fee may be waived if you maintain a $500 balance but it is not a requirement.) Simple Checking does not pay dividends. Simple Checking offers members access to all funds at no cost.If you currently have a checking account at another financial institution, you may switch your checking account to Spectrum by following the instructions on this secure Checking Account 'Switch Kit'. Simple Checking also offers: * Monthly statements providing members with a consolidated record of transaction activity and earnings for reconcilement of the account. * Automatic overdraft protection from savings, providing a 'safety net' in case there are insufficient funds in the checking account * Direct Deposit of funds so members may have their paycheck directly deposited into this account automatically each pay period * Automatic loan payments from checking (or savings) may be set up in order to get a lower rate on certain loans and to take advantage of the convenience of not having to write and mail a check every month (also saving members a trip to the branch!) The Simple Checking account can be accessed through: * Share Drafts (checks) * By using your Spectrum FCU check/debit card * In-person at one of our branch locations * Through SAM-24, our automated voice response system - members may perform inquiries, transfers, request withdrawals by Spectrum Official Check at their convenience using their touchtone phone anytime, anywhere * Through PAL - Personal Account Link, members may perform inquiries, transfers, request withdrawals, view and print their statements via their personal computer - and otherwise manage their accounts * By automated deposits and withdrawals * Make deposits in person at your nearest branch, through the Credit Union Deposit Network, the Exchange® deposit sharing network ATMs or at any of our proprietary ATMs located near our branches. Contact us for more info on these options. * By ATM - conveniently make withdrawals through all ATMs displaying the Star®, Plus®, Pulse® or the Exchange® network symbols. Additionally, members' funds are secure and guaranteed. The National Credit Union Administration (NCUA) insures the cumulative balances of Share/Checking/Club and Share Certificate accounts up to $100,000 (IRAs insured separately). Additional Share Insurance deposit coverage up to $250,000 on all credit union deposit accounts currently being insured by the NCUA is covered by American Share Insurance (ASI) making the total insured amount up to $350,000.