Share Draft/Checking
Accounts - .25% APY*
Notice to Members:
The Credit Union cannot
guarantee funds on checks given for deposit in either share
savings or draft checking after the normal hold period
assigned at the time of deposit has expired.
Referenced deposits can still be returned N.S.F.
Consequently do not write checks or make withdrawals
against your accounts until you are certain deposited
checks are valid, even though your account may show these
monies as "available".
Michigan Educational Credit
Union pays dividends on your Draft/Checking account balance.
$5 minimum balance required to earn dividends. There are no
per check fees. Members pay only for the cost of their draft
supplies, and any special services such as stop payments or
Non-Sufficient Funds items or draft certification. Members
who have their retirement checks directly deposited into
their MECU account are eligible to receive FREE drafts! In
addition, members who sign up for the convenience of Payroll
Deduction or Direct Deposit to their Draft/Checking account
will receive their first check order FREE!
Dividends are paid from
current income and available earnings, after required
transfers to reserve at the end of the dividend period. Fees
for the special share draft/checking services noted above
could reduce earnings on the account. The above APY is
effective as of 5/1/008 and is subject to change.
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• Annual Percentage Yields
