Joint Account
A financial account that is owned by two or more individuals, who have equal access to and control over the funds in the account.
More Details
A joint account is a financial account that is owned by two or more people. Joint accounts are typically used by couples, family members, or business partners who want to share access to a financial account and manage their finances together.
Example
You recently got married and want to share a checking account with your spouse. You call MCU to open a joint account together.
Related Terms
Fair and Accurate Credit Transactions Act (FACT Act)
A federal law that aims to protect consumers from identity theft and fraud by providing greater access to and control over their credit information
Share Account
A savings account that represents ownership of a specific amount of money deposited with the credit union and establishes membership in the credit union.
Debt-to-Income Ratio (DTI)
A measure of how much of an individual's monthly income is consumed by debt payments.

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