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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 basic account, student account, higher yield accounts, or 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.
At ABCO Federal Credit Union you are a valued member and as such we help you find the right account to fit your needs. Conveniently Switch to an ABCO share draft checking account now.
Accounts
Choose the Right Account For You
There are five available plans from which to choose - Student, Classic, Premium, or Elite. All plans include the following:
ABCO Share Draft (Checking) Benefits
- No minimum balance on Classic Accounts
- No per check fees
- ATM/Visa Check Card
- Free Online Banking
- Free Bill Payer
- Overdraft Protection (with pre-approved line-of-credit)
- Direct Deposit option
- Classic, Student, & Premium Share Draft (Checking) Accounts can earn quarterly dividends. Elite Share Draft (Checking) Accounts earns monthly dividends.
- No "lost" checks, every time you write a draft (check) you automatically make a duplicate copy!
All accounts are insured up to $500,000.
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
Premium Share Draft (Checking) Account
- $1,000 minimum opening deposit
- $1,000 minimum average daily balance to earn APY*
- Dividends compounded and credited quarterly
- Higher dividend rate
- Current Rate
- Below $1,000, there is a $4 monthly service charge
- Free standard checks with Net Pay or Direct Deposit
- Free travelers checks
Elite Share Draft (Checking) Account
- $5,000 minimum opening deposit
- $5,000 minimum average daily balance to earn APY*
- Dividends compounded and credited monthly
- Highest dividend rate
- Current rate
- Below $5,000
- Free standard checks, travelers checks, cashiers checks, and certified drafts
- Discount on loans
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
Other Business Services and Deposit Accounts
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
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