Types of Share Accounts

The types of share accounts a credit union offers may include:

• Regular Shares

• Share Drafts

• Share Certificates

• Money Market Accounts

• Individual Retirement Accounts

• Other Tax-Advantaged Accounts

• Business Accounts

• Escrow Accounts

• Nonmember Accounts

• Brokered Deposits and Share Certificate Blocks

• Incentive Programs

Credit unions that offer first mortgages may also have escrow accounts.

A larger credit union may offer variations of each type of share account to meet the needs of its field of membership. Larger credit unions may also offer various types of share certificates. Credit unions, regardless of size, should have specific strategic plans to manage liquidity and interest rate spreads between the dividends paid on shares and interest paid on borrowings, and interest earned on loans and investments.

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