The Hidden Cost of a "Free" Checking Account

Most of us think of checking accounts as a place to park money temporarily—not as a tool for building wealth. And honestly, that's exactly what traditional banks want you to think. While they advertise "free checking" with zero monthly fees, they're quietly making money on every dollar you leave sitting idle in your account.

Meanwhile, you're earning exactly nothing.

The Real Math Behind Zero Interest

Let's say you keep an average balance of $1,000 in your checking account throughout the year. That's not unusual—it's actually a pretty modest cushion for covering bills, everyday purchases, and the occasional unexpected expense.

At a typical bank offering 0.01% APY (and yes, that's being generous), you'd earn about 10 cents over the course of a year. Ten cents. You'd find more than that in your couch cushions.

But here's what that same $1,000 could earn in a checking account that actually works for you: $100.

Why Banks Keep Your Money Working Against You

Traditional banks can afford to offer "free" checking because they're using your deposits to fund their own investments and loans—and they're earning significant returns on your money. They're just not sharing those returns with you.

Credit unions work differently. As a member-owned cooperative, Public Service Credit Union returns profits to members in the form of better rates, lower fees, and products designed to actually help you build financial stability. That's not just marketing speak—it's literally how we're structured.

Surge Checking: Banking That Puts You First

Our Surge Checking Account flips the traditional banking model on its head by offering 10% APY on your first $1,000. That means the money you were going to keep in checking anyway—for rent, groceries, gas, and daily life—is now working as hard as you do.

Here's what that looks like in real terms:

  • Month 1: Your $1,000 earns about $8.33

  • Month 6: You've earned roughly $50

  • Month 12: You've collected a full $100 in dividends

And remember—this isn't money you had to lock away in a high-yield savings account or commit to a long-term certificate. This is your checking account. The money you use every single day.

More Than Just a Great Rate

The 10% APY is remarkable, but Surge Checking offers the complete package:

Convenience That Matches Your Life

  • Mastercard® debit card accepted worldwide

  • Access to thousands of surcharge-free ATMs through the Shazam Network

  • Apple Pay, Google Wallet, and Samsung Pay compatibility

  • Same-day card pickup at our Wausau branch

Fees That Make Sense

  • No minimum balance requirements

  • Just $5 monthly maintenance fee—easily waived by enrolling in e-statements or if you're age 60 or better

  • No nickel-and-diming with excessive service charges

Modern Banking Tools

  • Updated online banking platform and mobile app

  • Instant transfers between accounts

  • Direct Kwik Cash line of credit access through your checking account

  • 24/7 fraud monitoring for peace of mind

“That means the money you were going to keep in checking anyway—for rent, groceries, gas, and daily life—is now working as hard as you do.”

The First 90 Club

To celebrate 90 years of serving our community, we're offering something special: the first 90 members who open a Surge Checking Account will be entered into a drawing to win a $90 gift card. It's a small thank you for being part of our continuing legacy of member service.

Your Money Deserves Better

Think about it this way: if you found a $100 bill on the sidewalk, you'd pick it up without thinking twice. Yet most of us leave that same amount on the table every year by keeping our money in checking accounts that earn nothing.

Learn more about Surge checking

The difference between a traditional checking account and Surge Checking isn't just about interest rates—it's about choosing a financial partner that values your business enough to prove it. It's about making your money work as hard as you do to earn it.

Make the Switch

Opening a Surge Checking Account takes just minutes, and you can do it three different ways:

Not a member yet? No problem. Membership is open to employees of WEC Energy Group and its affiliates (like Wisconsin Public Service), plus their immediate family members. It takes just $25 to open a membership share account and join a credit union that's been putting members first for nine decades.

Learn more about membership

Your checking account shouldn't just be a place to store money between paychecks. It should be an active part of your financial strategy—earning returns, building your cushion, and supporting your goals. That's not too much to ask from the institution that holds your hard-earned money.

Ready to make your checking account work harder for you? Open a Surge Checking Account today and start earning what your money is actually worth.

Ready to Surge Ahead?

Contact us today to open your Surge Checking Account:

Rate may change after account is opened. Fees may reduce earnings. Federally Insured by the NCUA.

SavingsKyle Turner