Judging from newspaper headlines these days, many people are tempted to think free checking is all but extinct unless customers have a lot in their accounts and are willing to transact frequently, including by direct deposit. But that's really not the case.

For example, many credit unions are sticking with free checking. Some may even find a way to get marketing muscle out of the trend away from free checking. And community banks that serve relatively small accounts are also aiming to hang onto their free checking offerings. We'll likely see some small regional banks maintain such accounts as well.

For many of these institutions, free checking was really about attracting consumers they could upsell or cross sell. With so many banks trending toward more fees and restrictions, the business proposition of free accounts may be improving.

All of that said, it's unclear how many institutions will stick with it. Given the reality of reform, it may be that even those who would like to hang on may be be forced to hike fees at some point.

For more:
- here's a look at Memphis-area banks
- here's a look at credit unions form the CSM

Related Articles:
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Smaller banks sense a big marketing opportunity
Study: Fees rise, free checking accounts harder to find