Banking Made Simple & Easy
OlyFed’s Community Checking is designed to be an affordable transaction account to meet the needs of individuals who haven’t worked with a traditional financial institution in the past or who are looking to reestablish their credit and economic health and well-being. Community Checking comes with financial education support to help build savings, assets and credit.
Many Great Features & Resources
| Checking Account | Community Checking |
|---|---|
| Minimum Balance to Open | |
| Minimum Balance to Open | $1 |
| Monthly Service Fee | |
| Monthly Service Fee | $0 |
| Telephone Banking | |
| Telephone Banking | Free |
| Digital Banking* | |
| Digital Banking* | Free |
| Bill Pay | |
| Bill Pay | Free |
| Personal Finance Management | |
| Personal Finance Management | Free |
| eStatements | |
| eStatements | Free |
| Credit Monitoring & Reports | |
| Credit Monitoring & Reports | Free |
| Debit Card Control | |
| Debit Card Control | Free |
| Financial Education Classes | |
| Financial Education Classes | Free |
| Notary Service | |
| Notary Service | Free |
| Confidential Document Shredding | |
| Confidential Document Shredding | Free |
| Money Orders & Bank Checks | |
| Money Orders & Bank Checks | Free |
| Surcharge Free ATM w/ Visa Debit Card | |
| Surcharge Free ATM w/ Visa Debit Card | Access to 33,000+ surcharge free ATMs nationwide through the MoneyPass Network |
| Alternative Identification Accepted | |
| Alternative Identification Accepted | Matricula Consular Card (Primary), ITIN (Secondary) and Nonprofit Referral (Secondary) |
| Domestic & International Wires** | |
| Domestic & International Wires** | See schedule of account fees |
| Personal Checks | |
| Personal Checks | Not available |
| Open Online | |
*All accounts offer our full suite of digital banking services including Bill Pay, Digital Wallet, Transfers and more.
**Current Schedule of Account Fees
Banking Built Better
We believe banking should be simple and enjoyable. We believe in keeping the fine print and fees to a minimum and creating transformational relationships built on trust, not transactional ones based on maximizing profits. Our people are incentivized to serve, not sell, and our products are crafted to do the same thing.
To us, you’re more than the balance of your bank account: Guided by our “Better Fedder” training and a compassionate and caring attitude, we nurture relationships to help you define and achieve your financial goals, which is why we put people above the bottom line.
Utilizing our vast network of local social service providers, individuals without two forms of qualified personal identification can utilize a referral from one of our many local nonprofit partners as one form of credentialed documentation to open an account.
Our team of caring and knowledgeable bankers are here to help open a Community Checking Account and to set customized goals and strategies for achieving your unique financial objectives.
As a mutual bank, we’re accountable to you, our customers, not corporate shareholders. With our business model, you’re more than a customer, you’re a stakeholder, which means more for your wallet, for your future and for our community.
This translates to many low to no-cost product and service options. It means we’re focused on helping you get ahead with budgets, financial plans and accounts that provide safe, sustainable and meaningful ways to save.
When you bank with us, you can rest assured knowing you’re doing business with a bank that puts our local neighbors first. Each year, we donate anywhere from 10 to 15% of our profits back to the community, which totaled more than $460,000 last year! Furthermore, we foster a culture of volunteerism among our people, who happily contributed more than a thousand hours of service last year.
We contribute two cents to local charitable organizations with your debit card transactions. By swiping, using your digital wallet, or ordering online, your OlyFed debit card will generate two cents to be donated to a nonprofit in the South Sound!
This charitable gift-giving program is free, year-round and works with any OlyFed debit card that’s tied to an active account. It’s an automatic stream of donations to a local nonprofit simply by using your OlyFed debit card for transactions that you normally make.
Our Two Cent Campaign launched in November of 2018 and has provided more than $150,000 in support to more than 50 local nonprofit organizations whose missions are to improve the quality of life in our area. The benefiting charity changes each month and all you have to do is continue the things you love like shopping, eating out and grabbing a movie with friends.
Financial Education Resources
Core to our mission is meeting the financial education needs of our customers and community. Knowing the ins and outs of how best to save, spend, share, borrow and manage your money gives you the tools and resources to ensure your financial health and well-being.
At OlyFed we offer both in-person and virtual assistance and we cover topics from budgeting and managing credit to account security and investing for your future. Our team of knowledgeable and caring bankers are here to help you develop your financial goals, plans and strategies to achieve your dreams and desires for a bright future. Take a look at what we have to offer below:
Homeownership & Construction
In addition to our financial education offerings, we also provide a community homebuyer class that covers the ins and outs of the home buying process. From determining a budget, understanding the role of credit and how much you’ll need for a down payment to reviewing the different types of mortgage loans and the team of professionals you’ll be working with; we provide you with valuable insight and a complete overview of everything you need to know to get started.
For buyers looking to build a home, we also have a course about construction financing where we bust all the myths associated with the custom construction process. We make sure just as much craftsmanship goes into your loan as your home and we make the steps towards building your dream home simple and easy to understand by giving you the tips, tools and confidence to start the construction process today.
Online Learning Center
Our online Learning Center provides access to curriculum that offers you practical knowledge, skill building opportunities and resources that help you manage your finances with confidence. These free and interactive financial education modules touch on a wide range of topics to ensure your success.
