Entwurf teilen

Anteilsscheckkonten: Wie sie funktionieren und warum sie wichtig sind

Key Takeaways

A share draft is similar to a checking account but indicates partial ownership in a credit union.
Members of credit unions purchase shares, which earn dividends rather than interest.
Share draft accounts typically do not have monthly fees or minimum balances, making them cost-effective.
Credit unions offer an alternative to banks with cooperative ownership and profit-sharing among members.

What Is a Share Draft?

A share draft is essentially a checking account offered by credit unions, allowing members to access their funds conveniently while holding ownership stakes in the union. Established in the 19th century, credit unions have evolved, fostering a community-oriented banking approach that competes with traditional retail banks. Unlike at banks, where you are a customer, credit union members own shares that earn dividends instead of interest. Credit unions typically offer share drafts without monthly fees or minimum balance requirements, making them an attractive option for many.

Understanding the Functionality of Share Draft Accounts

Credit unions function differently than banks. In a credit union, every member is also a partial owner. Because credit unions are cooperatively owned, members do not make deposits, but rather purchase shares. Shares do not earn interest, but instead, earn dividends. (A dividend is a distribution of a portion of an organization's earnings, decided by the board of directors or other managerial entity, paid to a class of its shareholders.)

What's more, share draft accounts usually carry neither monthly fees nor minimum balance requirements, unlike many bank checking accounts. In traditional commercial banking, service charges help generate income from accounts that don't bring in enough interest revenue to cover the bank's expenses.

Charging fees when customers fail to maintain a minimum balance (i.e., overdraw an account or write too many checks) ensures that these accounts continue to make financial sense for the institution.

Historical Background and Evolution of Credit Unions

Credit unions first originated in 1844 in Rochdale, England, when a group of weavers established the Rochdale Society of Equitable Pioneers. This organization raised the capital to buy goods at discount prices, subsequently passing the savings along to their members.

Many consider Friederich W. Raiffeisen to be the founder of the modern credit union. He established the Heddesdorf credit union in Germany in 1846. In 1901 credit unions were introduced in Canada and arrived in the United States in 1908.1 The St. Mary's Bank Credit Union in Manchester, New Hampshire, was the first credit union in the U.S.2

Originally, membership in a credit union was limited to people who shared a "common bond." For example, they had to work in the same industry or for the same company. Members might all live in the same community.

Today, however, credit unions have loosened membership restrictions, allowing the general public to join. At times traditional retail banks have felt the pressure of competition from credit unions.

FRB Federal Credit Union. "History." Accessed Nov. 19, 2020.

St. Mary's Bank. "About Us." Accessed Nov. 19, 2020.

Personal Finance

Banking

Checking Accounts