- Home
- Meet the Team
- Log In
- Contact
- Careers
- Search
- Search Results
- Branches & ATMs
- Rates
- Log In
- About MCU
- Join MCU
- Personal Banking
- Lending
- Credit Cards
- Insurance
- Member Resources
- MCU Financials
- Forms and Disclosures
- Privacy Policy
- Automated Telephone Banking
- Order New Checks
- Security & Fraud Alerts
- Privacy Notice
- Scholarship Search
- Schedule an Appointment
Club Account
A type of savings account that is managed by a group of individuals for the purpose of saving money for a specific goal or event.
More Details
A club account is a type of bank account that is used by a group of people, such as a club or association, to manage their collective funds. This type of account is typically used to manage the group's finances, pay bills, and collect membership dues.
Example
You may choose to use a club account if you are in charge of a local sports club and need to manage their funds and oversee their transactions separate from your personal bank account.
Related Terms
Automatic Transfer
A process in which funds are automatically moved between accounts. In personal banking, it can be used to transfer money or make payments.
Auto Payment
A payment that is made on a recurring basis without the need for the payer to manually authorize each transaction.
Direct Deposit
A method of electronically transferring funds from an organization, such as an employer or government agency, into an individual's bank account.