Nonmember Joint Account Owners

This article reviews the permissibility and rights of nonmember joint account owners.

Written by Loran Jackson, Regulatory Compliance Counsel, NAFCU

Federal credit unions go to great lengths to give their members plenty of account options, including the ability to include friends or family as joint account owners. For this reason, we receive many questions regarding nonmember joint account owners. Under section 1759(a) of the Federal Credit Union Act (FCU Act), federal credit unions can create joint accounts where one owner on the joint account is a member of the credit union and the other account owner is not:

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