Yes. Federal law allows credit unions to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each credit union should make the decision on the type, amount, and method of calculation based on sound credit union judgment, and safe and sound business practices.
Credit unions must disclose any fees associated with a deposit account when it is established; therefore, you may want to review your account agreement as well as the current fee schedule.
If you believe that your credit union imposes high service charge fees, shop around—and purchase your financial services accordingly.