Share Draft (Checking) Accounts "Checking" the Credit Union Way
At ABCO Federal Credit Union we have the "checking" account that's right for you - from the classic account, student account, higher yield accounts, to our business account.
We call our accounts "share draft" accounts because when you deposit money in any ABCO Federal Credit Union account, your deposits are actually "shares" in the credit union and your check is actually a "draft" - hence the name Share Draft Accounts.
Accounts
Choose the Right Account For You
There are three available plans from which to choose - Classic, Premium, or Student. All plans include the following:
ABCO Share Draft (Checking) Benefits
- No minimum balance required
- ATM/Visa Check Card
- Free Online Banking
- Free Bill Payer
- Overdraft Protection (with pre-approved line-of-credit)
- Direct Deposit option
- Classic & Student Share Draft (Checking) Accounts can earn quarterly dividends. Premiere Share Draft (Checking) Accounts earns monthly dividends. (See our checking and saving account dividend rates)
- No "lost" checks, every time you write a draft (check) you automatically make a duplicate copy!
- No per check fees
Premiere Share Draft Checking Account
This account allows you to earn high dividend rewards when you maintain a balance of zero to $25,000.00.
Requirements:
1. Member must provide a valid email address to open account.
2. Member must not have adverse account history with efunds.
3. Only 1 Premiere Share Draft account per member number.
Qualifications:
- Agree to accept account statements electronically.
- Perform 1 financial transaction in online banking or bill payer during the monthly qualification cycle.
- Perform 1 direct deposit, payroll deduction, or direct debit through the Premiere Share draft account during the monthly qualification cycle.
- Perform any combination of 10 Debit or POS transactions with your ATM/Visa Check Card through the Premiere Share Draft account during the monthly qualification cycle.
Note: You will receive an email each month indicating whether or not the qualifications have been met for the Rewards rate.
Classic Share Draft (Checking) Account
- No minimum balance requirement
- Maintain a $500 minimum monthly balance to earn APY*
- Dividends compounded and credited quarterly
- Regular share dividend rate
- Under $500, no dividends, no service charges
Student Share Draft (Checking) Account
For students age 24 years or younger. - No minimum balance required.
- Maintain a $500 minimum balance to earn APY*
- First box of 50 checks free
- No per check charge
Business Share Draft (Checking) Account
If you own your own business or run a small nonprofit organization, ABCO has the "checking" account for you - our Share Draft Business Account. - No minimum balance
- No per deposit fees
- No per check fees
- Monthly statements
- Maintain a $500 minimum monthly balance to earn APY*
- Dividends compounded and credited quarterly
- Regular share dividend rate
- Current Rates
- Under $500, no dividends, no service charges
Business Checking Application
Stop by one of our
branches to sign up for an ABCO Share Draft Checking Account. Once you've signed up, you can easily close your old account, transfer direct deposits, and automatic withdrawals to your ABCO share draft checking account using our
Switch Kit.
ABCO reserves the right to cancel any application for a Share Draft Account on information provided by Chex Systems or by any other accredited source.
*APY=ANNUAL PERCENTAGE YIELD
