@Anonymous wrote:While searching the forum for credit unions with early direct deposit, I came across PenFed's Free checking account--thanks @SouthJamaica.
Submitted the app online & received the notification to unfreeze my Equifax report. Unfroze my report & received an email stating that my new account is almost open & that I may now refreeze my Equifax report 🙄.
According to a chat rep, the application is under review and a decision will be delivered via email tomorrow.
So I'm thinking this free checking account may be denied as I joined in 2020 with a dirty file & my Equifax report leaves much to be desired. If so, I'll probably take my pennies from the savings & close the account.
Holy cow, I didn't even know PenFed now offers a free checking account. It's been the only credit union I've ever seen which doesn't.
Its Access America checking account assesses a $10 month penalty, which can only be avoided by having, each month, a minimum balance of $500 or direct deposits of $500. It appears that their definition of direct deposit is the looser kind, apparently can be satisfied by ACH transfers from your external account.
@SouthJamaica wrote:Holy cow, I didn't even know PenFed now offers a free checking account. It's been the only credit union I've ever seen which doesn't.
Its Access America checking account assesses a $10 month penalty, which can only be avoided by having, each month, a minimum balance of $500 or direct deposits of $500. It appears that their definition of direct deposit is the looser kind, apparently can be satisfied by ACH transfers from your external account.
Right off the top of my head, Alaska USA Federal Credit Union doesn't, Elements Financial and GTE Financial all don't offer free checking. Alaska USA also has $50 annual fees on all their cards unless you have a checking account with them 
@Anonymous wrote:Lol. I think I happened to stumble upon PenFed's Free Checking account.
In the past I've received marketing emails targeting their premium savings account--although I don't recall what rate is offered on the premium savings--but no target email for this new free checking.
Declined for their Access America account before, so I have little confidence in the free account being approved. Perhaps it was more of a test to decide whether or not to keep the savings open 😉. Especially since I think we've established that I am not their ideal account holder. Meh.
Well we think you're ideal 
Don't sell yourself short! I was worried they would look and see that I burned 3 CU's and say "thanks, but no thanks" But when I applied a few weeks ago for the free checking, IIRC, it went into review and about 24 hours later got an account opening approval email.
