As Banks Plan to Charge Debit Card Usage Fees AA Credit Union Continues Fee-Free Checking
FORT WORTH, Texas, Oct. 20, 2011 /PRNewswire/ -- While several banks and other financial institutions are starting to charge their customers simply for using their debit cards, American Airlines Federal Credit Union (AA Credit Union) continues to offer benefits that allow member-owners to use their card even more: a premium dividend rate, out-of-network ATM fee refunds and no monthly fees on its Priority Checking Account.
As the Credit Union industry celebrates International Credit Union Day Oct. 20, consumers are being given advice from financial gurus, such as Suze Orman and The Wall Street Journal, suggesting they turn to credit unions as a banking alternative. AA Credit Union, one of the nation's largest credit unions, is leading the way with its Priority Checking account, offering a premium dividend of 2.51 percent Annual Percentage Yield (APY)*. ATM fees of up to $20 a month are refunded by meeting minimal requirements such as making 15 transactions a month, signing up for direct deposit and receiving online statements.
"We continue to offer member-owners the same great rates and fee-free options we've been doing all along," said Nancy Crouch, AA Credit Union's Card Services Director. "We have no intention of adding a monthly service fee or debit card usage fee to our checking accounts."
The Credit Union also offers a number of time- and money-saving options including free online banking, remote deposit and mobile banking services.
"For the past 75 years we've concentrated on common sense, consumer-friendly policies and we're glad that more consumers are starting to get the message. Our mission to increase the financial well-being of our member-owners through Credit Union membership hasn't wavered," Crouch says. "We're not here to make money off our members. We're here to make money for our members. When they succeed, we all succeed."
About American Airlines Federal Credit Union
Founded in 1936, AA Credit Union now serves the present and retired employees of American Airlines, their family members and people who work in the air transportation industry. In its 75th year, AA Credit Union has more than 230,000 members nationwide and assets in excess of $5.6 billion. As a not-for-profit financial cooperative, AA Credit Union is committed first and foremost to enriching its member-owners' financial well-being through their participation in the products and services of the Credit Union. For more information, please visit www.AACreditUnion.org.
*Priority Checking dividends are calculated by average daily balance and is 2.53% APY on qualified accounts up to $5,000 and .05% APY on non-qualified accounts and balances of more than $5,000. Rates are accurate as of 8/1/2011 and may vary after account opening. Fees may reduce the earnings on the account.
AA Credit Union is a registered trademark of American Airlines, Inc.
Federally insured by NCUA
SOURCE American Airlines