Share and Share Draft Accounts

A share account can be a savings account, a money market account, an IRA, and more. A share draft account is a share account that has automatic withdrawals to honor drafts that members have presented in exchange for goods and services. Drafts process through the same national clearing system as checks. Drafts go to the share draft processor your credit union has chosen where the share draft information is compiled and transmitted to Portico for processing or transmitted directly to your credit union. Each share or share draft is assigned a two-character share type.