Checking &
Debit Card

Share Draft Checking Account

Direct Deposit

No need to take your paycheck to the bank. Sign up for Direct Deposit and your check will be automatically deposited into your account.

Payroll Deductions

Making your monthly loan payments, whether for your Car Loan or Mortgage, is convenient when you have the amount automatically deducted from your CPS Energy paycheck. Come in to complete the paperwork, and you’ll no longer worry about missing a payment due date!

Fast Facts

• $25 minimum deposit to open

• No monthly service fee

• No minimum balance required

• Unlimited check writing privileges

• Easy access to funds with the CPS IBEW FCU Debit Card

• Dividends paid monthly on balances over $500

• May receive discounts on certain Consumer Loans if the payment is automatically deducted from your Share Draft Account

To open a new account, please bring your Social Security Card and a second form of ID including birth certificate, passport, or state ID.

Introducing Teen Checking

While a Youth Savings Account can be used for children up to 18 years old, we offer a CPS IBEW FCU Teen Checking Account with a debit card for 13-17 year olds who are interested in actively using funds. 

• Available for teens ages 13-17 (with parent or guardian as a joint member)

• $25 minimum deposit to open

• Includes access to Visa Debit Card with options for parental control/monitoring

• $0 monthly service fee

• No minimum balance required

To open a new account, please bring your Social Security Card and a second form of ID, including birth certificate, passport, or state ID.

The account can be set up and monitored by parents with security and spending controls in place. Teens have the freedom to spend within the limits you set while learning valuable life lessons in financial responsibility—from depositing checks to deciding how much of what they earn should go to savings to monitoring for fraud and overspending.

Is It Time For A Teen Debit Card?

It’s a rite of passage for teens to start earning “cash” and learning how to be responsible for their own expenses. But how useful is cash these days? If you’re like most Americans, you use your debit and credit cards far more often. It’s unrealistic to assume teens will get very far with only cash in their pockets, particularly when most of their purchases are completed online and through apps.

Enter teen checking and debit cards

They can be a natural progression for a child growing into an adult. Here’s how:

Ideally, if your child or grandchild has $5 or more in cash lying around, it’s time for them to have their own Savings Account. That usually means before they’re old enough to count money. Why? It can be easy to lose track of the monetary gifts your child receives for birthdays, holidays, and other occasions from the moment they’re born. Accounts made for children, like the CPS IBEW Federal Credit Union Youth Savings Account, are special because they’re made to grow along with the child with no minimum balance, no monthly service fees, and dividends paid monthly.

As the child grows into a teen, their financial activity grows, too

While a Youth Savings Account can be used for children up to 18 years old, we also offer a CPS IBEW FCU Teen Checking Account with a debit card for 13-17 year olds who are interested in actively using funds. The account includes a Visa Debit Card with spending limits available to set up by calling our tellers. To open an account, it’s a $25 minimum deposit, with a valid ID and Social Security Card. It’s available for qualified members with a parent or guardian as a joint member.

The account can be set up and monitored by parents with security and spending controls in place.

Teens have the freedom to spend within the limits you set while learning valuable life lessons in financial responsibility—from depositing checks to deciding how much of what they earn should go to savings to monitoring for fraud and overspending. Getting started with these lessons on a debit card that’s monitored by a parent has been shown to improve financial savviness into adulthood.

“Do you recall qualifying for your first ‘plastic card’ as a young adult and immediately getting into debt? Back then, the idea of a debit or credit card was very abstract. It was easy to overspend because the connection from the card to the money in your bank account wasn’t apparent,” says Edna Narum, CPS IBEW FCU Chief Financial Officer. “Now that transactions are increasingly digital, it’s more important than ever to teach teens how clicking a ‘buy’ button affects the ‘cash’ in their account. A Teen Checking Account with a debit card can be a helpful step in that education process.”

Visa® Debit Card

Your free Checking Account Debit Card gives you an easy way to get cash or pay for purchases. The amount is deducted directly from your Checking Account and saves you from having to carry your checkbook.