What does share draft mean on bank statement?

What does share draft mean on bank statement?

A share draft is a type of draft, which credit unions use, as a way to access funds in individual accounts. Shares represent partial ownership in a credit union, and credit union members (shareholders) write drafts (checks) as a way to access the value of their partial ownership (shares).

What is a draft account number?

Draft account means the non-interest bearing demand deposit account (Account Number 9300000040) established by Borrower with Agent to be used for (i) the deposit of money in accordance with SECTION 3.6(F) and the Funding Draft Procedures; (ii) disbursements on behalf of Borrower in accordance with the Funding Draft …

What is the difference between a share account and a share draft account?

A share draft account is a liquid account at a credit union that allows you to make frequent withdrawals and payments. If you’re familiar with checking accounts, share draft accounts are essentially the same. Again, the only difference is that a “share” account is at a credit union instead of a bank.

Is a share draft account a checking account?

Credit unions refer to checking accounts as share draft accounts. While it might not affect how you use the account, share draft accounts are a form of ownership. This means you are a partial owner of the credit union, while checking account owners are customers of banks.

What is a share account number?

The share ID is the two digit number that follows the S on an account number displayed online (ex. 123456-S12) or the two numbers before the zeros start on a full account number (ex. The loan ID is the two digit number that follows the L on your account number displayed online (ex. 123456-L65).

What is a share ID?

The share ID or loan ID is the last two digits of the number listed under each account in your Online Banking dashboard. The share ID or loan ID is also listed in the solid bars on your account statements. For example, the share ID for a base savings account is 00.

Where can I find my share ID number?

How do I find my DCU share number?

You can find your member number on any current statements you have with DCU; ie: Mortgage, Visa or account statement. You may call DCU at 800.328. 8797 and speak to a Member Service Representative and request to have your member number mailed to you.

Where is my Langley member number?

You can navigate to the Account Details option by clicking on the Account Name in Online Banking, or by expanding the Details dropdown in Mobile Banking. There, you can view Account Number, Routing Number, Direct Deposit Number, and more! Account #: Your 6-digit member number followed by the specific account ID.

What is DCU share number?

In order set up recurring Direct Deposit to your DCU Checking or DCU Savings Account, simply provide your employer or other payment provider with DCU’s routing and transit number/ABA# – 211391825.

What is share number?

Share your smartphone’s number with compatible smartwatches, Palm and other eligible connected devices using Number Share – Mobile. Use one number to make and take calls, get app notifications and more on all your synced devices.

How do I find my account number and routing number DCU?

Scroll to the bottom of the homepage and you’ll find the ABA number listed on the right-hand side of the page. Looking at your checks. Pull out your checkbook and you’ll notice three sets of numbers across the bottom of each check. The first set of numbers is your DCU routing number.