The Best Fresh Start Checking

Lots of banks don’t offer a second chance to course-correct their spending habits. Use the overdraft option too many times or incur repeated non-sufficient funds and the bank may close your account. You can’t start over with that bank once you mess up and it can be difficult for other banks to let you open a new account. Luckily, we put the customer first and care about our customer’s financial success. At Focus Federal Credit Union we offer a fresh start checking account so customers get a second chance to maintain their accounts and start building better credit.

What is Fresh Start Checking?

Designed for people who cannot open a bank account, a fresh start account offers a second chance to start over after previous financial mistakes. We help our members prepare for a second chance by practicing good habits with finances. Rebuilding trust and history through us to earn financial redemption, together. However, it doesn’t rebuild credit history or improve credit scores, but we have knowledgeable Financial Service Representatives who will create a plan to start rebuilding your credit.

A fresh start account contains no-waiver account fees, strict requirements, and no overdraft service. Once we establish a better history then we reward successful members with a standard checking account with plenty of benefits. This is part of a rebuilding path to get our members back on track. We want to offer another solution than having no account, an online bank, or trusting fee-heavy prepaid debit cards and check-cashing services.

While not all checking accounts are the same, the best ones for customers to select are ones that are easy to maintain and remember. Those accounts have low monthly fees, no minimum balance requirements to keep the account open, free services, and few limitations. Fortunately, Focus FCU meets those standards customers seek and offer more for its members.

Benefits of a Fresh Start Checking Account

1. Account Upgrade

A fresh start account isn’t a permanent account type. As soon as the account shows no abused or mismanaged funds, the account, after a review, upgrades to a traditional checking account. 

2. No Bank History Check

Before a financial institution lets customers own a checking account, they run a credit check through ChexSystems. Banks will reject customers with misuse of overdrafts and withdrawals, hot check writing, check fraud, account freezes, and negative balances. If there are recent charge-offs or high-balance charge-offs, there is still a chance that we can’t open a Fresh Start Checking, BUT we have the flexibility of other options and could still open an Alternative Checking Account. We like to give every member an opportunity for financial redemption. And this is one of the reasons we created our fresh start checking account. 

3. Free Advice on Money Management

At Focus FCU, we offer free resources to help you take back control of your finances. We have Financial Service Representatives that root for your financial success, which is much-needed encouragement to succeed. Offering classes and seminars to teach our members how to spend and save wisely. We have even started doing some training online through webinars and can be found on our YouTube Channel.

4. Works with Bad Credit Members

Money mismanagement isn’t the only reason our members lean on fresh start accounts. People with bad credit can use the account too. While credit unions will perform a soft credit check, we don’t turn new members away because of bad credit. We advise those people to use a fresh start account to improve money management. Good paying and spending habits on the account will transfer over to credit history and credit score. An improved score means access to mortgages and loans with even more favorable interest rates.

Open a Fresh Start Checking Account

You may have heard other terms being used at other financial institutions like; second chance checking, clean slate checking, and opportunity checking. An application is mandatory to open an account and become a member. Two forms of identification are also required. The minimum balance ($50) must be available at the time of opening. When everything is satisfactory, you’ll receive a debit card and other perks like online/mobile banking and bill pay.

Why Open a Focus Federal Fresh Start Checking Account?

For people who are rejected at traditional banks because of account mismanagement, you can obtain a checking account at Focus Federal Credit Union through our fresh start account. The checking account helps members build confidence in responsible money management, and the proof is in the member’s history. After six months of proof, we will upgrade your account to a checking account of your choosing.

Until that time arrives, the fresh start account does offer nice benefits to keep your money managed, including e-statements, remote deposits, free online and mobile banking, and free bill pay. All you need is a $50 minimum balance and you will receive a visa check card. Pay the $9.99 service charge monthly to keep the checking account active.

Financial counseling is available to help create a financial path towards your goals. Our Financial Services Representatives will offer ways to develop good spending and paying habits. We also offer financial wellness seminars available in person or online. Use these resources to strengthen your knowledge of money management.

We love offering people a second chance to create a solid financial foundation. Contact Focus Federal Credit Union online, by email, or phone and chat with a helpful representative. Second chances don’t come often, so we encourage you to take the next step with us. Open a fresh start checking account today.