Go Back   Askaboutmoney.com > General Financial Issues > Credit Union issues

Notices

Reply
 
Thread Tools
  #1  
Old 23-01-2012, 09:27 AM
Optimistic Optimistic is offline
Frequent Poster
 
Posts: 182
Default Query re account

Hi,
A friend and his wife have an account with the local credit union. Their child's children's allowance was paid into the account.
My friend got a statement recently showing zero for balance and zero for loan and then a figure for shares. Is this figure for shares the amount of money lodged in the account before withdrawal or does it relate to something else? I think it does, but want to check. I really appreciate any comments given. Thanks.
Reply With Quote
  #2  
Old 23-01-2012, 09:33 AM
Slim Slim is offline
Frequent Poster
 
Posts: 1,597
Default

Quote:
Originally Posted by Optimistic View Post
Hi,
A friend and his wife have an account with the local credit union. Their child's children's allowance was paid into the account.
My friend got a statement recently showing zero for balance and zero for loan and then a figure for shares. Is this figure for shares the amount of money lodged in the account before withdrawal or does it relate to something else? I think it does, but want to check. I really appreciate any comments given. Thanks.
Savings in a Credit Union are usually referred to as shares. The zero balance would be loan balance. Statements are laid out differently depending on the IT system in use, but that is what I would guess. Get your friend to check and ask for a complete statement since account opened.
Reply With Quote
  #3  
Old 23-01-2012, 10:27 AM
Billo Billo is offline
Frequent Poster
 
Posts: 705
Default

Quote:
Originally Posted by Slim View Post
Get your friend to check and ask for a complete statement since account opened.
That statement would probably be available online. Mine is anyway.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 09:41 AM.