Share Draft Account

  • NO MINIMUM BALANCE
  • NO MONTHLY FEES
  • NO CHARGE PER DRAFT
  • NO HIDDEN SERVICE CHARGES
  • OVERDRAFT PROTECTION
  • VISA CHECK CARDS AVAILABLE UPON APPROVAL
  • MEMBERS 55 YEARS AND OLDER RECEIVE FREE CHECKS
    (REORDERING CHECKS IS EASY AND CONVENIENT)

 

  • With this share draft account, original checks will not be returned (safekeeping) to the member. The drafts are a carbonless duplicate form and are truncated at the Federal Reserve from whom copies may be ordered at a nominal charge.
  • The dividend rate on share draft accounts will be paid at a rate approved by the Board of Directors by vote at the monthly meetings.
  • Funds accumulated in the share draft account will not be used in the Life Savings Insurance calculation.
  • Overdraft protection will be offered to those members who have sufficient funds available, and who do not have a history of excessive non-sufficient fund checks.  The credit union will make an automatic transfer from a designated share account  to cover a non-sufficient fund draft at a cost of $3.00.  A notice will be sent if the service is utilized.
  • A credit report may be run to verify the member’s credit worthiness before a share draft account is opened.

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