- Home
- Meet the Team
- Log In
- Contact
- Careers
- Search
- Search Results
- Branches & ATMs
- Rates
- Log In
- About MCU
- Join MCU
- Personal Banking
- Lending
- Credit Cards
- Lending Services
- Insurance
- Member Resources
- MCU Financials
- Forms and Disclosures
- Privacy Policy
- Automated Telephone Banking
- Order New Checks
- Security & Fraud Alerts
- Privacy Notice
- Schedule an Appointment
Service Charge
A fee charged by a credit issuer or financial institution for processing transactions, usually added onto the total cost paid by a customer.
More Details
A service charge is a fee that is assessed for a specific service or benefit provided by a company or organization. Service charges can be one-time fees or recurring fees, and they may be mandatory or optional.
Example
As a credit union member, you may be charged a service charge for certain services or benefits that you receive from the credit union, such as using an out-of-network ATM or exceeding the number of allowed transactions. Some service charges may be waived by maintaining a minimum balance or enrolling in certain account features. It is important to review the terms and conditions of your credit union account to understand what service charges may apply.
Related Terms
Amortization
The process of paying off a loan through regular installments, the amount of which is determined by the loan amount, length, and interest rate.
Minimum Payment
The smallest amount of money owed on a balance to remain in good standing.
Jumbo Loans
A type of mortgage that exceeds the conforming loan limits set as eligible for purchase by government-sponsored enterprises.