A LUV Checking Account requires an opening deposit of $30.00 along with a minimum $50.00 balance in the membership savings account. It offers various benefits like: overdraft protection from a savings account, unlimited check writing, unlimited transactions, free ATM withdrawals, on-line access etc. Dividends are earned on the average daily balance which is paid every quarter. The monthly charge is waived off if a daily balance of $500.00 is maintained in this account.