Chequing services today offer a whole lot more than simply providing the opportunity to pay for goods and services or access funds by writing a cheque. Whether you want basic, no frills chequing or a combination of chequing and other frequently used services, Reddy Kilowatt Credit Union can satisfy all of your financial needs. We also offer line of credit overdraft protection on approved credit.

Suited to owners who occasionally access their chequing account.

Power Basic
Suited to owners who have limited chequing service requirements.

Power Chequing
Suited to owners who use a broad range of chequing services.

Power Plus
Suited to owners who use a broad range of chequing services on a frequent basis.

US Dollar
Suited to owners who deal regularly in U.S. Currency.

A low-cost, stress-free chequing package for students.

Suited to owners 55 years of age and over.



New CPA Rules

In January 2005, the Canadian Payments Association (CPA) published new specifications for Canadian cheques as a key element of a plan to modernize the cheque clearing system. The CPA is leading an industry-wide initiative to make the clearing process more efficient by capturing images of cheques so that they can be cleared electronically. The new specifications are necessary to ensure that high-quality images can be captured - both for clearing purposes and for delivery of returned cheques - and to enhance processing efficiencies. Implementation of this new clearing process is targeted to begin in December 2006. In preparation, many printing companies have made changes to the physical appearance of cheques they produce in order to ensure that all cheques in circulation by the target start date are fully imageable.

Before ordering new cheques, ensure that the company you use has implemented these new specifications. If you are not sure, contact one of our Member Service Representatives.

These changes include:

  • Adoption of the numeric date field format and printing of the date field indicators below.
  • Revised specifications that define and address matters such as cheque background colours, patterns, screening, and choice of ink colour to ensure that the highest quality images are captured.
  • Mandatory serial number in the MICR line
  • New printing requirements on the reverse of the cheque (layout for endorsement and teller stamps on the back)
  • Standardized positions for key fields on the cheque such as the date field and amount in figures on the front
  • Minimum cheque length increases to 6 ¼"
  • The disallowance of elements that may hinder image capture



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