Setting up a local German bank account is to set up. Herkpilot78 is absolutely correct about the out of pocket expenses from Services Credit Union. On top of the poor conversion rates (I expected better from a credit union), they charge $2.00 per EFT if done at a bank, $1.00 per EFT if done online (this includes recurring transactions). Once you have a German bank account established, you can get with your finance office and set up a direct deposit to your German bank account via International Treasury Service (ITS). It costs $30/month, but you get the market rate for dollars to euros, and euros are deposited in to your German bank account (the German bank accounts don't charge a fee for EFTs).
Perhaps one of the nicest features of having a German bank account is the debit card that comes with it. A lot of stores only accept cash or debit card, and the stores that accept debit cards won't accept American debit cards or the debit cards from Services or Community Bank. Having an alternate method to pay for things when you're at a store similar to Target is very helpful!
