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Savings with SELCO vs Banks

Credit unions are co-ops, owned by their members.

That means our profits are returned to all our member-owners in the form of lower fees and interest rates. In 2016, SELCO members saved an estimated $442 each — and an estimated total of $26 million — by choosing us over a traditional bank.

Still not convinced? Here's how SELCO's simple, straightforward rates and fees compare to those of major banks operating in Oregon.

SELCO Community Credit Union
CheckingSavingsCredit Card
No monthly fee, no min. balance.$7 monthly fee only if no other account/service AND less than $100 min. daily balance.9–18% APR; no balance transfer fee.
Bank of America
$12 monthly fee, or $0 with $1,500 min. daily balance or monthly $250 min. direct deposit or $20,000+ invested through Preferred Rewards program.$8 monthly fee, or $0 with $500 min. daily balance or if linked to Interest Checking or $20,000+ invested through Preferred Rewards program. Limit of 6 withdrawals or transfers per month.14.74–24.74% APR; greater of $10 or 3% balance transfer fee.
Chase
$12 monthly fee, or $0 with $1,500 min. daily balance or monthly $500 min. direct deposit.$5 monthly fee, or $0 with $300 min. daily balance or monthly $25 automatic transfer from checking.16.74–25.49% APR; greater of $5 or 5% balance transfer fee.
First Interstate Bank
$9 monthly fee, or $0 with $500 min. daily balance.$4 monthly fee, or $0 with $200 min. daily balance. Limit of 6 withdrawals or transfers per month.8.75-18.75% APR; greater of $10 or 3% balance transfer fee.
KeyBank
$7 monthly fee, or $0 with monthly $500 min. deposit or 8 transactions monthly.$4 monthly fee, or $0 with $300 min. daily balance or monthly $5 direct deposit or auto transfer, or participation in financial wellness program. Limit of 4 withdrawals or transfers per month.11.74-21.74% APR; greater of $10 or 3% balance transfer fee.
Umpqua Bank
$3 monthly fee, or $0 with e-statements.$3 monthly fee, or $0 with $200 min. daily balance or monthly transfer from checking. Limit of 6 withdrawals or transfers per month.13.74-22.74% APR; greater of $5 or 3% balance transfer fee.
US Bank
$8.95 monthly fee, or $6.95 with e-statements, or $0 with monthly $1,000 min. direct deposit or $1,500 average balance.$4 monthly fee, or $0 with $300 min. daily balance or $1,000 average balance. Limit of 6 withdrawals or transfers per month.11.74-23.74% APR; greater of $5 or 3% balance transfer fee.
Wells Fargo
$10 monthly fee, or $0 with monthly $500 min. direct deposit or $1,500 average daily balance or 10 debit card purchases.$5 per month, or $0 with $300 min. daily balance or automatic transfers from checking of approx. $25 per month. Limit of 6 withdrawals or transfers per month.16.90%-26.74% APR; greater of $5 or 3% balance transfer fee.

Products used in this comparison:

Data current as of July 30, 2018.

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