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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
Payroll Deduction
The deductions made by an employer from an employee's paycheck prior to direct deposit, usually to pay for elected benefits.
Insurance
An agreement in which an individual or entity pays a premium to an insurer in exchange for protection against potential losses or damages.
Statement Period
The length of time covered by a bank or credit card statement, typically one month, used to determine which transactions are displayed.

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