Personal Checking Accounts

The Institution for Savings offers five different types of personal checking accounts to meet your everyday banking need and your lifestyle. Our offerings are designed to provide you with stress-free banking and convenient 24/7 access when you need it. And of course itís all delivered with the personal expert service you have come to expect from us since 1820.

  Bonus Checking* No Fee Checking Personal Checking Collegiate Checking** 18/65 Checking
  Open a Bonus Checking Account Online Open a No-Fee Checking Account Online      
Description Earn a premium rate of interest and have up to $20 per month in foreign ATM fees reimbursed when certain conditions are met monthly Unlimited check-writing, no monthly service charges or minimum balance requirements Interest-bearing account with unlimited check-writing Designed with the needs of college students. Any student 17 to 24 years of age who is entering or enrolled in a college degree program is eligible. Foreign ATM fees up to $25/month rebated No-fee interest-bearing account for students and seniors
Minimum balance to open $10 $10 $10 $10 $10
Earns interest  
Monthly service charge if minimum balance not maintained $10 if balance falls below $500   $5 if balance falls below $500 (waived with Direct Deposit)    
24-Hour Automated Telephone Banking
No-fee Internet Banking and Bill Pay
No-fee Mobile Banking and Mobile Deposit
No fee ATM Card and/or Visa© Debit Card and Point-of-Sale Transactions
No charge for basic checks     First order free
Surcharge free withdrawals at SUM ATMs
Electronic statements available Required Required
Overdraft Protection Line of Credit available***
Overdraft Protection Sweep from Savings or Money Market Account
Direct Deposit available Required
Additional information Click here for FAQs     May be required to validate student status and provide college name and expected graduation date at time of account opening. After student turns 24, this account will revert to a No Fee Checking. Account available if the primary account holder is 18 or younger or 65 or older. A charge of $5 may be imposed for insufficient funds. The account can be exempt only if all owners meet the age qualification requirement, except in the case of a joint account with a spouse, in which case only one spouse is required to meet the age requirement.  You must sign up to take advantage of this option.


Click here for current rates

*Transactions are considered temporary and do not count towards the Bonus Checking requirements until the final transaction has posted to the account. This may take several days from the date the transaction was actually performed which may cause transactions to count in a different statement cycle. *Premium interest rate paid on daily balances up to $50,000, and a lower rate is paid on all amounts above $50,000 for each statement cycle that minimum requirements are met. This is a variable rate account; the interest rate and APY may change at any time after account is opened. Minimum balance to open this account is $10. A $10 monthly service charge will be assessed if your daily minimum balance falls below $500. Available on personal accounts only. To earn the higher rate of interest, you must meet the following each statement cycle: 1) perform at least 10 Institution for Savings Visa® Debit Card purchases from this account (transactions done at ATMs do not qualify); 2) have at least 1 direct deposit to this account; 3) pay at least 3 bills monthly from this account using our Bill Pay; 4) agree to receive your monthly account statement electronically; and 5) maintain a $500 minimum daily balance. When these conditions are not met, the lower rate of interest will apply and foreign ATM fees will not be refunded for that statement cycle. Fees may reduce earnings. ATM surcharge refunds apply to non-IFS ATM fees and other non-proprietary ATM surcharges for domestic banks only with a maximum refund amount of $20 per statement cycle.

** ATM charges up to $25 per month at non-IFS ATMs will be rebated back to the account at the end of the monthly account cycle. For list of SUM ATMs, visit This is a variable rate account; interest rate and APY may change at any time after account is opened. You must maintain a minimum balance of $1 in the account to obtain the disclosed Annual Percentage Yield and a $10 minimum balance to open the account is required. Customer agrees to enroll in and accept Electronic Statements for this account.

***Customer must apply for and be approved for this service.

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