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Three Cheers for CommonWealth One Federal Credit Union’s free checking and fee-free debit cards

CommonWealth One Federal Credit Union offers free checking and fee-free debit cards, so if your current financial institution is charging you for these services, it’s time to switch.


November 5th has been declared “Bank Transfer Day” and CommonWealth One Federal Credit Union is ready to help new members switch to their free checking accounts and fee-free debit cards!  In light of current events with big banks, Bank of America and debit card fees, transferring your checking accounts to CommonWealth One is a smart choice.  

Even though credit unions have been in the news lately, the public may not know exactly how credit unions differ from other financial institutions.  While they offer most of the same products and services as banks—including savings and checking accounts, loans, ATMs and online banking, they differ in one huge way – credit unions are owned by their members, whereas banks are owned by stockholders and investors.

Since credit unions are cooperatives, any earnings generated over and above their expenses are returned to their members/owners in the form of competitive savings rates and lower loan rates.  And many of their services are low or no-cost to their members.

In conjunction with “Bank Transfer Day”, CommonWealth One is encouraging their current members to refer friends, neighbors and family members to join the credit union using a “Switch Ticket”.  This document entitles the new member to a “welcome deposit” of $25 when they sign up for checking, e-statements, a debit card and direct deposit.  Referring members are entered into a $250 monthly drawing.

For more information about how to join CommonWealth One Federal Credit Union on “Bank Transfer Day”, visit

About CommonWealth One Federal Credit Union
Since 1944, CommonWealth One Federal Credit Union has grown to become one of Northern Virginia’s top credit unions with over $295 million in assets serving more than 36,000 members. CommonWealth One is a full-service, member-owned, not-for-profit financial cooperative committed to being the lifetime financial institution of its members.

CommonWealth One Federal Credit Union offers Checking Accounts, Mortgages, Home Loans, Auto Loans, Savings Accounts, Money Market accounts, IRAs and more in Washington, DC and Virginia.  We have remained true to our philosophy of “people helping people” - providing members with loans, savings plans, and special services to achieve their long-term financial goals and help them enjoy a better way of life.  Our excess earnings are returned to our members in the form of higher dividend rates, lower interest rates on loans and low or no fees.  For information, visit


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