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Account Statement
An official summary of all transactions and activities that occur in an account over the course of a given period of time.
More Details
An account statement is a paper or electronic document that shows a detailed record of all the transactions that have occurred in a financial account over a given period of time, usually one month. Account statements are commonly used for bank accounts, investment accounts, and credit card accounts.
Example
If you have an account at MCU, you’ll receive a statement pertaining to that account that will show you a summary of all transactions in that account over the course of a given period of time.
Related Terms
Legacy Member
A legacy member is a long-time member of a credit union, with family membership often spanning multiple generations.
Inactive Account
A financial account that has not had any activity or transactions for a long period of time.
Vesting
The entitlement to a present or future asset or benefit, usually referring to an employer-provided benefit such as a retirement account.