Our Loan Officer, Arlene, was so nice to work with. Her knowledge of the loan process and her ability to listen for what we wanted in a mortgage made the transition go smoothly. A very nice experience.
SFCU Member
Fee Schedule
Effective Date: Thursday, September 14, 2023
Statement or Passbook Savings
| Monthly Fee | NONE | |
| Balance to Open Account | $5 | This is your share in the Credit Union and must be maintained for the life of the account. This $5 cannot be used for overdraft protection, automatic loan payments or ATM withdrawals. |
Personal Checking
| Monthly Fee | NONE | |
| Balance to Open Account | $5 | This is your share in the Credit Union and must be maintained for the life of the account. This $5 cannot be used for overdraft protection, automatic loan payments or ATM withdrawals. |
Simple Business Checking
| Monthly Fee | $3 | Fee is waived if account is enrolled in eStatements. |
| Balance to Open Account | $100 |
Check Printing
The charge for checks will automatically be deducted from your checking account.
| First Order of Checks | FREE | First box of 90 standard style checks only. |
| Check Re-Orders | Varies by Style | You can reduce the number of checks you write by using your Visa® Debit Card and our FREE Bill Pay product. |
Overdraft Fees
Fees for using your account when you don’t have enough money in it.
| Return Item Fee | $25 | For each item returned unpaid. May be imposed on the same transaction. |
| Overdraft Fee | $25 | For each item paid in accordance with the Credit Union’s Discretionary Overdraft Policy. |
| Overdraft Protection Fee | FREE |
Fees will be imposed for overdrafts created by checks, ACH debits, Point-of-Sale, ATM withdrawals, in-person withdrawals, or by other electronic means.
Items will not be paid if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
Accounts must be brought current (repaid) within 32 days.
Overdraft items will not be paid if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day.
We generally post items in the following order:1) Force-paid items from prior day processing, posted in time-stamp order, 2) Outgoing wire transfers, 3) Cash withdrawals with teller, 4) Over-the-counter items – posted in serial number order, 5) Cash withdrawals through an ATM, 6) Debit card transactions – posted in time-stamp order, 7) Online banking debits – posted in time-stamp order, 8) TellerPhone Debits, 9) ACH Debits in order of presentment, 10) In-clearing checks – lowest amount to highest amount order, 11) Automatic Debit Transactions, such as loan payments and 12) Fees and other miscellaneous items.
ATM Withdrawal Fees
Somerset FCU does not charge a fee for using any ATM. To avoid fees charged by the ATM owner, look for the Allpoint logo on the ATM or click here to locate a surcharge-free ATM.
Stop Payment Fees
| Stop Payment on Check | FREE | If placed via SFCU Online Banking. |
| Stop Payment on Check | $25 | If placed with a SFCU Representative. |
| Stop Payment on ACH Debit | $25 | Only available with SFCU Representative. |
| Stop Payment Removal | $10 | Only available with SFCU Representative. |
| Revocation of Electronic Payment | $25 |
Mortgage Servicing Fees
| Mortgage Payoff Fax | $25 | Each |
| Subordination Agreement Review | $175 | Each |
| Duplicate Mortgage Discharge | $25 | Each |
Online Account Fees
| Online Banking | FREE | Access your account 24 hours a day. |
| Bill Pay | FREE | Write fewer checks. |
| Mobile Banking | FREE | Access your account from your mobile device. |
| Mobile Deposit Capture | FREE | Deposit checks from your mobile device. |
| eStatements | FREE | |
| TELLERphone | FREE | Available 24 hours a day, 7 days a week. |
Deposited Items Returned
| Items Deposited into Your Account that are Returned Unpaid | $10 | Per item. |
| Copy of Returned Item | $5 |
Wire Transfer Fees
| Wire Transfer Outgoing | $25 $35 |
Domestic International |
| Wire Transfer Incoming | $20 $30 |
Domestic International |
Other Fees
| Replace Passbook or Debit Card | $10 | Each |
| Phone Transfer with MSR | FREE | |
| Official / Bank Check | $2 | Each – One free check per day. Also waived if paying property taxes. |
| NOW Checks | FREE | For four (4) over the counter checks. |
| Foreign Check Collection | $30 | Per item. |
| Bad Address Fee | $2 | Per month. |
| Manually Post Electronic Credit | $10 | Per item. |
| Dormant Account | $3 | Per month. |
| Statement Copy | $10 | Free online. |
| Research & Reconciliation | $15 | Per hour. |
| Notary Public | FREE | For members. |
| Medallion Signature | FREE | For members. |
Safe Deposit Box Fees
| Lost Key | $10 | Must be able to provide one key. |
| Drilling Fee | Varies | If both keys are lost or non-payment of rent. |
| Billing Fee | $5 | If you do not use auto pay for annual rent. |
| 2″ x 5″ | $24 | Annually |
| 2 1/2″ x 5″or 2 3/4″ x 5″ | $27 | Annually |
| 3″ x 5″ | $30 | Annually |
| 5″ x 5″ | $39 | Annually |
| 3″ x 10″ | $51 | Annually |
| 5″ x 10″ | $60 | Annually |
This guide is part of your Deposit Account Agreement and contains additional information about the fees and features of your account. For terms governing your account, please consult Somerset Federal Credit Union’s Account Disclosure Information brochure and Dividend Rate Sheet. The terms of the account, including fees and features may change.
In my 30+ years in Somerset, I have never seen a financial institution with such great service. Keep up the great work, you have a great deal to be proud of.
SFCU Member
I sincerely appreciate the personalized experience we receive from all of the staff at SFCU, whether it be the person greeting you at the front door, the tellers, the staff that helps with notarizations, mortgages or wire transfers. I have dealt with all of these areas at the Credit Union and have always been assisted in a timely, friendly and helpful manner. It is by far the best bank/credit union I do and have ever done business with.
SFCU Member
Our friend mentioned how great SFCU was to work with. The staff makes you feel welcome. Working with the mortgage team was great and very helpful.
SFCU Member