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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
Authorization
The process of verifying that a person has the right to use a particular credit or debit card for a transaction to protect against fraud.
Savings Account
A basic account that securely holds funds for an individual while also allowing them to earn interest on the account balance.
Late Fee
A penalty charged by a lender to a borrower who fails to make their required minimum payment on time.

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