The 52,000 member Co-op Services Credit Union, headquartered in Livonia, Michigan, will give bank customers $105 to shred their bank debit card and open a checking account at the CU.

“Unlike other financial institutions, we’re focused on giving our members better rates, added conveniences and more value,” said Anthony Carnarvon, president and CEO of Co-op Services Credit Union. “Co-op Services has never charged a debit card transaction fee and offers a free checking account with no monthly fees. That’s a much better deal than the outrageous fees that some banks charge, especially during difficult economic times.”

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