Share Draft (Checking) Account allows members to transact business by means of drafts, automated teller machine (ATM) cards, debit cards, automated clearing (ACH) drafts, or in person at a branch office without incurring enormous processing fees.

The members often refer to share draft accounts as “checking accounts”. However, share draft accounts are different from the traditional checking account in several ways. As defined by credit unions, all checks or share drafts that members write are ordered in duplicate form. This is because the credit union doesn’t return your original (cancelled) checks. Chessie FCU simply sends a monthly statement to the member to reconcile to his or her carbon copy, which is automatically produced when the original draft is written by the member. This is a great convenience to the members who forget to write the check or transaction in their journal book. If the member needs a copy of a cancelled check he or she simply requests one from the credit union. If you need to place a stop payment on a check there is a $25.00 fee for this transaction.