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Kinecta and Nix held a month-long collection campaign collecting nearly 600 backpacks filled with school supplies with additional backpacks donated by the Richstone Family Center, Thomas House Family Shelter, and other schools and community organizations.
|Arnold Ramirez, Research and Information Consultant for the California and Nevada Credit Union Leagues|
As a matter of credit union policy, you may be correct. But when it comes to a regulatory requirement, this isn’t necessarily accurate.
Credit unions have created many ways of setting up accounts and memberships. Some credit unions choose to assign one membership to a single account and house all services provided to that member under the account. Other credit unions allow members to have multiple accounts with multiple services under each account.
Ultimately, the best way to set up memberships and accounts depends on the credit union’s preference, provided they adhere to rules of membership and account ownership.
Click here to read the entire article, Shares: Members vs. Account Owners, in the February/March edition of Credit Union Digest on Page 19.