Chequing account · The Energy Credit Union
Option Package: fees and true cost
The Energy Credit Union’s Option Package charges $8.00/mo, or $0 with a $9,999 minimum balance, with unlimited transactions. For our “Everyday” example that comes to $120 a year, #19 of 106 chequing accounts offered in Ontario.
Provincial insurerOffered in ON
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $96 | Monthly fee $8.00 | 29 of 106 |
| Everyday Household account, a few e-Transfers | $120 | Monthly fee $8.00 | 19 of 106 |
| Heavy Lots of card, bill and e-Transfer payments | $144 | Monthly fee $8.00 | 20 of 106 |
| Branch and cheques Teller visits, cheques, paper statement | $96 | Monthly fee $8.00 | 12 of 94 |
Try your own numbers in the true-cost finder. Is keeping $9,999 in the account worth it? Run it in the account-fee calculator.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $8.00/mo, or $0 with a $9,999 minimum balance |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | $1.00 |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | $1.60 |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | $2.00 |
| Withdrawal at another institution’s ATM | $2.00 |
| ATM withdrawal in the United States | $5.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | Not available |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | $2.00 |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $50.00 |
| Overdraft protection, monthly | No extra fee |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | 27.25% a year |
Notes from the institution
5 free ATM transactions per month 20 free Point of Sale transactions per month 5 free stop payments per year
Is the money protected?
FSRA (Ontario credit union). Credit union deposits are insured by the province, with limits that vary — see credit union insurance by province.
Cheaper for everyday use, at other institutions
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $0 a year
- 1Q Chequing Account (KEB Hana Bank Canada) — $0 a year
Other chequing accounts at The Energy Credit Union
- Choice Package — $14.00/mo, or $0 with a $25,000 minimum balance
- Essential Package — No monthly fee
- Infinite Package — No monthly fee
- Preferred Package — No monthly fee
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · The Energy Credit Union’s product page
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