Share Draft Accounts (Checking)
One of the most popular services offered by the Credit Union is the Share Draft Account. Share Drafts are available for both personal and business uses.
- No minimum balance required.
- No service charges or monthly fees.
- Carbon copies of each draft make for easy record keeping.
- Payroll deduction option.
- Your share draft account may be linked to your share account. If a draft (check) tries to clear your account and the funds are not available, the computer will automatically look to the share (savings) account for funds. If the money is available in your share account, the amount of money needed to clear the check will be transferred for proper clearing of check.
- In addition to linking your share draft to your share account, Eastmill Federal Credit Union also offers an overdraft service for members who are in good standing with the Credit Union. "Member Privilege" is a discretionary overdraft service offered to the membership. The service may be available for members who inadvertently overdraw their checking account by writing a check, authorizing an ACH debit, or authorizing a recurring debit card transaction. The Credit Union may allow you to overdraw your account by up to $200.00 for a $25.00 fee each time an item clears causing you to drop into the negative. Designed to be a safety net for members who occasionally find themselves in a position where accessing funds is of the utmost importance, Member Privilege may be beneficial in emergency situations. The overdraft service is always the last resort (i.e. if you have money in your share account, it will attempt to transfer funds to cover the item first). Member Privilege requires no action on your part, unless you would like the service to also cover everyday debit card and ATM transactions. If you would like those transactions covered, please call 207-746-3428 to opt-in.
- Stop payments may be placed on a check. We can also order a photocopy of a check at your request. There is a small fee for each.
Our usual policy is to make funds available to our members on the same business day of the deposit. We do however, depending on the type of check deposited, reserve the right to put a hold on any check we feel necessary. Due to the increasing rate of fraudulent checks and money scams, we may not make all the funds available to you on the same business day that you deposit by check. If we are not going to make available to you the funds you deposit, you will be notified at the time you make the deposit. If you send a deposit in the mail, we will notify you of any holds being placed on your accounts. Our check cashing policy can be obtained at both of our offices. We apologize for any inconvenience. Please accept this change as our way of protecting you, our member, and your Credit Union.