Sharedraft Account (Checking) 

Ecusta Credit Union believes checking accounts should be flexible, affordable and convenient to meet our members’ needs. There are NO minimum balance requirements, NO monthly service charges and NO per-check charge. VISA debit cards are available to members whose accounts are in good standing. Overdraft protection is available and can be applied for in the loan department. The interest rate is declared by the Board of Directors and may be changed monthly. Dividends are compounded daily and credited monthly. Unlike a traditional checking account, your canceled checks are not returned to you. Each time you write a draft, you automatically produce a carbonless copy for your records. Copies of original checks are available for a small fee. You will receive a monthly statement showing all cleared checks, the check amount and all other transactions on your account. Also available now - eStatements thru our online banking. Safe, secure and receive your estatement by the 3rd day of the month.

Direct Deposit is available and can save you valuable time. If your employer is capable of electronic transfers of your regular or recurring payroll or retirement check, call a member service representative for more information about signing up. You will receive the proper routing numbers and instructions. Direct Deposit is safe, secure and convenient. Fees may be imposed for any transaction that causes an insufficient account balance.

Also available are noninterest-bearing checking accounts for organizations that might need them.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

NOTICE OF CHANGES IN TEMPORARY NCUA INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS. 

 All funds in a "noninterest-bearing transaction account" are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and seperate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules.

The term "noninterest-bearing transaction account" includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal ("NOW") account, money-market deposit account, and Interest on Lawyers Trust Account("IOLTA"), even if share drafts may be drawn on the account. For more information about temporary NUCA insurance coverage of transaction accounts, visit www.ncua.gov.

(2) If an insured credit union uses sweep arrangements, modifies the terms of an account, or takes other actions that result in funds no longer being eligible for full coverage under this section, the insured credit union must notify affected members and clearly advise them, in writing, that such actions will affect their share insurance coverage.