1 /5 Jamie McLane: I want to share some information that may be helpful to others considering this credit union. Unlike many other credit unions, this institution performs a hard inquiry on your credit report even when you are only applying for a checking account (not a loan product). A hard inquiry can show up on your credit file and may impact your score.
In my research, credit unions such as Navy Federal Credit Union, Launch Credit Union, Space Coast Credit Union, Fairwinds Credit Union, and VyStar Credit Union also review credit, but they typically use a soft inquiry, which does not affect your credit score.
This credit union also seems to apply stricter requirements for what they consider lower credit scores, along with additional restrictions on checking account usage. While this approach may work for some, consumers who are rebuilding credit or who prefer fewer restrictions may find more flexible options at other credit unions.
I would recommend asking about these policies up front so you can make the best decision for your situation.