What is the difference between a share account and a share draft account?
A share draft account is a liquid account at a credit union that allows you to make frequent withdrawals and payments. If you're familiar with checking accounts, share draft accounts are essentially the same. Again, the only difference is that a share account is at a credit union instead of a bank.
What does it mean to draft account?
Draft account means an account upon which funds are withdrawn through a properly payable instrument or an electronic transaction.
What does share account mean?
A share account represents an individual's ownership in the credit union. Share accounts can be savings accounts or checking accounts. You may also hear credit union checking accounts referred to as share draft accounts.
Is share draft a savings?
A share-draft account is a credit union account that is similar to a bank's checking account, except it is equivalent to buying a share in the credit union. Share-draft accounts do not have minimum balance requirements or charge account maintenance fees. They also earn interest, compounded on a quarterly basis.
[PDF] share draft checking accounts - Temple-Inland Federal Credit Union
share draft checking accounts - Temple-Inland Federal Credit Union www t-ifcu com/index_htm_files/CU 20CHECKING 20BROCHURE 20FULL 20PAGE pdf 1 août 2021 ALL SHARE DRAFT CHECKING ACCOUNTS ♢ For Credit Union Members Only ♢ $100 required to open ♢ Free checking with no minimum balance and
[PDF] AGREEMENTS AND DISCLOSURES
AGREEMENTS AND DISCLOSURES www yourbetterbankingchoice com/ pdf /membership-booklet pdf No minimum balance requirements apply to this Account Transaction Limitations Account will not be able to be accessed by means of a share draft SPECIFIC
[PDF] CENTRAL STATE CREDIT UNION BUSINESS ACCOUNT
CENTRAL STATE CREDIT UNION BUSINESS ACCOUNT www centralstatecu org/ pdf s/Business_Account_Agreement pdf Share accounts "share draft/checking" accounts and share "certificate" accounts are What this means for our Members: When you open a business account
[PDF] ATM CArd VISA debIT CArd - EmpireONE Federal Credit Union
ATM CArd VISA debIT CArd - EmpireONE Federal Credit Union empireonefcu org/wp-content/uploads/2015/12/disclosures pdf The word “account” means any one or more share and share draft accounts you have with the Credit Union Electronic funds transfers are electronically
[PDF] How Your Accounts are Federally Insured Brochure - NCUA
How Your Accounts are Federally Insured Brochure - NCUA www ncua gov/files/publications/guides-manuals/NCUAHowYourAcctInsured pdf While the NCUSIF coverage protects members at all federally insured credit unions from losses on a broad spectrum of savings and share draft products it does
[PDF] STATEMENT OF FINANCIAL CONDITION - NCUA
STATEMENT OF FINANCIAL CONDITION - NCUA www ncua gov/files/publications/data-apps/CRI201506 pdf Items 1 - 6 Credit Union as defined in Section 704 2 of the NCUA Rules and Regulations overdraft protection program for share draft accounts
[PDF] MEMBERSHIP AND ACCOUNT AGREEMENT
MEMBERSHIP AND ACCOUNT AGREEMENT documents shellfcu org/ pdf s/MembershipAccountAgreement pdf The word "account" means any one (1) or more share or other accounts you have with Endorsements must be made on the back of the check or draft within 1½
[PDF] Electronic Funds Transfer Disclosures - Redbrand Credit Union
Electronic Funds Transfer Disclosures - Redbrand Credit Union www redbrandcu com/assets/accountDisclosures/depositAccountContractEftDisclosure pdf Make check withdrawals payable to the primary account holder at the address on file at the Credit Union from your share share draft or money market accounts
[PDF] A glossary of terms used in payments and settlement systems
A glossary of terms used in payments and settlement systems www bis org/cpmi/glossary_030301 pdf defined differently in a payment system context from the way it is understood in the cheque see bank draft Red Book Blue Book cash memorandum accounts
[PDF] TRUTH-IN-SAVINGS ACCOUNT DISCLOSURE
TRUTH-IN-SAVINGS ACCOUNT DISCLOSURE www mefcudirect com/assets/1/6/TIS_12012a pdf Money Market Account Club Savings Individual Retirement Accounts the end-of-day balance which means that dividends are earned on the day of deposit