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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
Debt-to-Income Ratio (DTI)
A measure of how much of an individual's monthly income is consumed by debt payments.
Payroll Deduction
The deductions made by an employer from an employee's paycheck prior to direct deposit, usually to pay for elected benefits.
Mobile Banking App
Mobile banking is the use of a mobile app to access and manage banking services such as account transactions, bill payments, and account transfers.