Checking Accounts

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Benefits of a Credit Union Checking Account

Seek a More Personal Banking Experience with iQ Credit Union

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    Credit unions are not-for-profit cooperatives owned by their members

    If you join a credit union, all the profits from the credit union go back into services to benefit you—its member. This typically translates into better rates on interest for savings accounts and loans.

  • Safe

    Credit unions are federally insured just like banks, so your money is secure

    Credit union accounts are insured for up to $250,000 by the National Credit Union Administration (NCUA).

  • Hearts-Hands

    Credit unions have a reputation for delivering superior customer service and satisfaction

    You are a member instead of a customer and own shares in the credit union.

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With our hassle-free application process, applying is quick and easy. Apply now and experience the benefits of banking with us.

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Checking Account Types

Take your banking to the next level

  • Intelligent Checking®

    This account is designed for customers who want to earn rewards and benefits for their active banking habits. To qualify, just follow these simple steps:

    • Make 12 debit or credit card transactions per month
    • Set up a direct deposit of $100 or more per month
    • Sign up to receive eStatements
    • Log into your online banking account at least once each month

    Don't miss out on this opportunity to upgrade your banking experience. Start enjoying the benefits of Intelligent Checking today!

    Apply Online
  • Basic Checking

    An Easy Way to Deposit Paychecks and Pay Bills

     

    Apply Online

Compare

Checking Account Types

Get great value-added services

Choose Marchan Payment

Intelligent Checking®

*MOST POPULAR

Intelligent Checking<sup>®</sup><br></br>*MOST POPULAR</p>

/yr

Basic Checking

Basic Checking

/yr

Packages Intelligent Checking®

*MOST POPULAR

Basic Checking
APY on balances up to $25,0001 5.50%--
APY on balances over $25,0001 0.25%--
Non-iQ ATM Fees and Access Paid Up to $25/month3

Nationwide network that gives you access to 30,000 ATMs with absolutely no fees.
Nationwide network that gives you access to 30,000 ATMs with absolutely no fees.
Monthly Fee No Monthly Fee or Minimum Balance RequirementNo Monthly Fee or Minimum Balance Requirement
Features Intelligent Checking®

*MOST POPULAR

Basic Checking
Overdraft Protection2

Optional
CheckCheck
Visa Debit Card CheckCheck
Mobile Banking CheckCheck
Online Banking CheckCheck
Online Bill Pay CheckCheck
Direct Deposit CheckCheck
Unlimited Check Writing CheckCheck
Free Online Money Management Software CheckCheck
Person-To-Person Money Transfers CheckCheck

Disclosures

All Checking Accounts: *APY = annual percentage yield. Fees could reduce earnings on this account. Rate may change at any time after account is open. Click here for full account disclosures.
Truth-in-Savings Disclosure: Except as specifically described, the following disclosures apply to all accounts.

  • Rate Information. The Interest/Dividend Rate and Annual Percentage Yield (APY) on your accounts are set forth in the Personal Rate Schedule. The Annual Percentage Yield is a percentage rate that reflects the total amount of interest/dividends to be paid on an account based on the Interest/Dividend Rate and frequency of compounding for an annual period. The Interest/Dividend Rate may change monthly as determined by the Board of Directors. For all Money Market and IRA type share accounts, the rate may change weekly on Wednesdays as set by the Credit Union. If the Money Market balance drops below the Minimum Balance, then the interest rate will reflect the current share rate. Qualifying Intelligent Checking Accounts are tiered rate accounts. For these accounts, the interest rate applicable to a particular balance tier will apply only to the portion of the daily balance that is within the balance range for that tier. Terms and conditions to earn the Intelligent Checking rates apply, please see the Intelligent Checking Terms & Conditions for more information. Terms and conditions to earn the Intelligent Savings rate apply. Please see the Intelligent Savings Terms & Conditions for more information.
  • Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The Dividend Rate and Annual Percentage Yield set forth in the Personal Rate Schedule are prospective rates that reflect the earnings the Credit Union anticipates paying for the Dividend Period.
  • Compounding and Crediting. For all accounts, interest/dividends will be compounded and credited monthly. The Dividend Period begins on the first calendar day of the month and ends on the last calendar day of the month.
  • Accrual of Interest/Dividends. Interest/dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. Interest/dividends begin to accrue on cash and non-cash (e.g., checks) deposits on the business day you make the deposit to your account. For all accounts, except Money Market and IRA / SEP accounts, if you close your account before accrued interest/dividends are credited, accrued interest/dividends will not be paid. Fees could reduce the earnings on an account.
  • Balance Information. The minimum balance required to open each account is set forth in the Personal Rate Schedule. The minimum monthly balance required to avoid a service fee or obtain the stated Annual Percentage Yield is set forth in the Personal Rate Schedule. For Money Market accounts, there is a minimum balance required to avoid a service fee. For Primary Shares, Money Market, Secondary Shares (over 21) and IRA / SEP accounts, there is a minimum balance required to obtain the Annual Percentage Yield for the Dividend Period.
  • Account Limitations. For Non-Profit Organizations and Money Market accounts, transaction limitations may apply. We may limit to no more than six (6) preauthorized, automatic, overdraft, Online and Mobile Banking, telephonic or audio response transfers from those accounts to another account of yours or to a third party in any month. If you exceed these limitations, your accounts may be subject to a fee. Refer to the Membership & Account Agreement for additional information. Intelligent Checking accounts are limited to one per account. Intelligent Savings accounts are limited to one per account. Refer to the Personal Fee Schedule for current pricing. Refer to the Easy Saver Terms and Conditions for program details, including limitations on deposits and withdrawals.

Intelligent Checking® Disclosure:Rates Effective as of February 1, 2024. All rates subject to change. No monthly fee. To earn the Intelligent Checking rate of 5.50% APY on balances up to and including $25,000, and 0.25% APY on balances over $25,000, you must meet the following monthly requirements: twelve (12) debit or credit card transactions; direct deposit of $100 or more per month, log in to online banking at least once per month; and receive e-Statements. If account requirements are not met, the non-qualifying rate will be 0.05% APY. New accounts will receive the qualifying dividend rate for the first statement cycle. Existing accounts converted to Intelligent Checking may qualify to receive the qualifying dividend rate beginning on the first day of the month following the month in which the account is converted. All requirements must be met with transactions posted and cleared by the close of business on the day before the last day of the month. ATM transactions do not count toward the 12 debit card transactions. Dividend paid on the last day of the month in which it is earned. Qualifiers must all be on the same account. **Only accounts that meet the Intelligent Checking criteria are eligible for the $25 ATM fee refund. Visit www.iQcu.com for details about how the ATM fee refund is calculated and other limitations. If your account has been open for at least thirty days and is in good standing, iQ Credit Union may, but is not obligated, to pay overdrafts on your account. An overdraft can occur when there are not sufficient funds in your account to pay an item presented against your account such as a check, electronic fund transfer or ACH, bill payment, or other debit on your account. A fee of up to $30 may be assessed for each overdraft. Overdrafts and subsequent fees are payable immediately; negative accounts must be brought positive within thirty days of the account going negative.

Frequently Asked Questions

What do I need to open an account?

Eligibility for membership:

  • Any person who lives, works, or attends school in the State of Washington
  • Any person who lives or works in the following six Oregon counties: Clackamas, Columbia, Hood River, Multnomah, Washington or Yamhill
  • Any immediate family member of an existing iQ member. This includes:
  • Spouse, parents, grandparents, children, grandchildren, brothers, sisters, aunts, and uncles; also including “half” and “step” siblings, parents, and grandparents; and
  • Domestic partner of a member
  • Members of the Pacific Foundation for Blind Children (PFBC) who live or work within the state of Oregon
  • Certified or Classified school employee within southwest Washington
  • Businesses (Sole Prop, LLC, Partnership, Corp) that are legal entities within the State of Washington
  • Businesses (Sole Prop, LLC, Partnership, Corp) located within the following six Oregon counties: Clackamas, Columbia, Hood River, Multnomah, Washington or Yamhill

Minimum deposit to open an account:

  • General Membership (18 and older)- $5.00
  • Minor Accounts (17 and younger)- $5.00
  • Non-Profit Organizational Accounts- $5.00
  • Business Accounts- $5.00

Other Requirements:

  • Government-issued ID with photo with current address: Driver’s license, State ID, U.S. Passport, U.S. Armed Forces ID card
  • Your Social Security Number (SSN) or Tax Identification Number (TIN)
  • Current rental agreement, utility bill or mortgage statement for address verification

Association, Club, & Organization Accounts:

  • Meeting minutes outlining the title of the Authorized Signers
  • Valid ID for all signers
  • EIN is required

How do I dispute a debit card or credit card transaction?

Please contact the Credit Union at 800-247-4364  or stop by your local branch to initiate a dispute on your debit or credit card. We will advise you on the best way to proceed with the dispute. Please contact us promptly, otherwise you may incur increased liability for the transactions.

What if my iQ Visa card is lost or stolen?

If you discover your card has been lost or stolen, call the Member Contact Center immediately at 360-695-3441 or 800-247-4364. If you are traveling outside the United States, please call 727-572-7723 to block your card immediately. You may stop at a local branch to receive a new card the same day, or call us during business hours to order a new card by mail. 

How soon can I write checks or use my debit card after making a deposit?

All deposits are different. Some deposits take longer to clear, depending on the type of deposit and the time the deposit is made. For deposits made at a branch or by mail, any delay is counted in business days from the day of deposit. For example, if a deposit is made after hours, the deposit won’t be considered until the next business day.

If you make a deposit at an iQ Credit Union ATM:

  • Savings deposits are held for two business days before funds are made available.
  • Cash deposits are made immediately available.
  • Check deposits release the first $500 of your total daily check deposits and the remaining funds become available after two business days.  

(Note that some exceptions apply. Please see the Membership & Account Agreement for complete details.)

If you make a Mobile Deposit:

  • Savings deposits are held for two business days before funds are made available.
  • Checking deposits release the first $500 of your total daily check deposits and the remaining funds become available after two business days.

How do I order or re-order checks?

A new check order may be placed by:

  • Visiting a branch location
  • Submitting a secure message through your Online Banking profile (please be sure to list all information to be printed on the checks, address the checks should be shipped to and desired starting check number.)

A re-order may be placed by:

  • Visiting a branch location
  • Contacting us at 360-695-3441
  • Clicking on the “Order Checks” link in your Online Banking profile (currently available on desktop version only)

How is the interest on Intelligent Checking paid and how do I qualify?

On balances of $0 - $25,000.00, dividends are earned at the full percentage (currently 4.00% annual percentage yield (APY)) if monthly requirements are met.

On balances exceeding $25,000.00, dividends are earned at 0.25% APY if monthly requirements are met.

Dividends are earned at 0.05% APY if monthly requirements are not met.

Monthly Requirements:

  • One single deposit of $100 or more via direct deposit
  • 12 debit card or 12 credit card transactions before last day of month
  • Registered for eDelivery
  • Log into Online Banking at least once a month during the qualifying period.

The qualifying period is the last day of the previous month through the current month's next to last day.

Intelligent Checking Account Terms and Conditions

Personal Fee Schedule

Personal Rate Schedule and Disclosures

I heard about a security breach, how will I know if my card has been compromised?

iQ is alerted about security breaches as soon as the information is made available. In these situations, we have processes in place to ensure your account remains secure. If you have any concerns about a possible breach, reach out to us by logging in to Digital Branch to send us a secured message or call us at 800.247.4364.

Fee Reduction FAQs

What fees are changing?

Starting Aug. 1, 2023, nonsufficient fees will operate differently; if your account lacks sufficient funds to cover a transaction and you have not opted out of Courtesy and Card OD with no available source of overdraft protection, we will not pay the item and we won’t charge you a nonsufficient funds (NSF) fee. Previously, if transactions exceeding your balance were not paid, you would incur an NSF fee. 

You also won’t be charged a returned item fee if someone else writes you a check and it is returned unpaid. 

Why is iQ changing how it handles fees now?

As a member-focused credit union, we continually review our policies to ensure they are fair and beneficial. The changes reflect our commitment to transparency and helping our members avoid unexpected costs. Technology is changing, which reduces some of our manual processes. Now we’re passing these savings on to our members. 

How do I see what fees I'm being charged now?

Just log into your account online or on our mobile app and navigate to your account statement. This will show any fees you've been charged. The fee schedule is available online and mailed with disclosures. If you need help to understand these fees, just give us a call! 

What is an NSF fee?

NSF stands for "nonsufficient funds." This is a fee some financial institutions charge when a transaction you make exceeds the available balance and they do not pay the transaction. Notices are also sent when fees are charged. iQ Credit Union does not charge this fee.  

What is an overdraft fee?

This fee comes into play when you use our overdraft services. An overdraft fee is a charge a financial institution imposes when a customer's account has insufficient funds to cover a transaction, but the transaction is still paid.  

What is the difference between an NSF and an overdraft fee?

Good question! Both these fees relate to not having enough funds in your account. The NSF fee happens when a transaction cannot be paid due to a lack of funds, and the overdraft fee occurs when we pay a transaction for you that exceeds your available balance. 

The major difference between the two is what happens to the transaction. With an overdraft, your transaction is paid even though your account balance is too low, while with an NSF, the transaction is not paid.If you are unsure of your current overdraft selections, you will need to contact iQ Credit Union to determine what coverage is best for you. 

What is the best way to avoid overdraft fees?

The best way is to keep a close eye on your account balance. Make sure there's enough in your account to cover your transactions. Budgeting well and regularly checking your balance can help avoid surprises. Setting up regular balance alerts in the Digital Branch to keep an eye on your balance is a great way to avoid overdraft fees as well. You can also set up a transfer from a savings account, credit card, or loan to cover your accounts. 

What is the benefit of Member Perks at iQ?

Our Member Perks are our way of saying thank you for being part of iQ Credit Union. As part of this program, enrolled members can take advantage of one courtesy overdraft fee reversal per year, adding an extra layer of financial protection. 

What if I still have questions about fees?

We totally get it—finance can be a complicated business! You can always reach out to our helpful member service representatives. They'll be happy to answer any additional questions you might have.