|
SHARE DRAFT/ CHECKING
Share Drafts were developed for Credit
Union members and their families as an alternative to bank
checking. A share draft looks like a check and is accepted
anywhere a check is accepted.
Sangamon Schools Credit Union's Share
Draft account has many other advantages over checking accounts
at other financial institutions.
These advantages include:
- NO MINIMUM BALANCE REQUIREMENT
- NO MONTHLY FEES
- NO PER-CHECK CLEARING FEES
The only cost our members have is the
cost of printing their personal checks, and that fee varies
on the style of check chosen.
Our Share Draft accounts are truncated,
which means that no cancelled drafts will be returned.
However, all of our check styles are wallet
duplicate styles, which means you make a carbonless copy
as soon as you write a draft. In addition, each paid draft
will be itemized on a monthly statement.
OVERDRAFT
PROTECTION
In the event of an overdraft, each
share draft is covered by overdraft protection in the form
of automatic transfers from up to four other share accounts
you authorize. However, our system may only transfer funds
above and beyond the $25 minimum balance requirement in
your regular share account, as that $25 must remain on deposit
at all times.
MONTHLY
STATEMENT
This document lists your present
balance and all drafts which have cleared your account,
and any ACH / Direct Deposit, or ATM / VISA Card Activity.
|
