Share Draft / Checking

Share Drafts were developed for Credit Union members and their families as an alternative to bank checking. A share draft looks like a check and is accepted anywhere a check is accepted.

Illinois Educators Credit Union’s Share Draft account has many other advantages over checking accounts at other financial institutions.

These advantages include:


The only cost our members have is the cost of printing their personal checks, and that fee varies on the style of check chosen. Every new checking account receives their first box of checks free!

Our Share Draft accounts are truncated, which means that no cancelled drafts will be returned.  However, all of our check styles are wallet duplicate styles, which means you make a carbonless copy as soon as you write a draft. In addition, each paid draft will be itemized on your monthly statement.

In the event of an overdraft, each share draft is covered by overdraft protection in the form of automatic transfers from up to four other share accounts you authorize. However, our system may only transfer funds above and beyond the $25 minimum balance requirement in your regular share account, as that $25 must remain on deposit at all times.

Courtesy Pay – Protecting Our Members
The response to the Courtesy Pay Program has been outstanding. Members have raved about the benefits, including:

  • No more NSF returned checks.
  • No more merchant returned check fees.
  • Protects your good credit!

For more information about share draft accounts and overdraft protection, contact IECU today.

Start/Restart Share Draft Accounts

IECU is here to help, no matter your current financial situation. In a world where second chances are hard to come by, the IECU Restart Share Draft Program offers a solution to repair poor credit and provide financial guidance from an experienced IECU Lending Officer. If you have a low credit score or have had trouble opening a share draft account in the past, the IECU Restart Share Draft Program is for you.

For our members who are just starting out and are looking to establish a share draft account for the first time, IECU offers the Start Share Draft Account Program. Just like that, you’ll see your credit begin to build and open new doors for your personal finance options!

Certain restrictions apply. Please see an IECU Loan Officer for more details. To open a Start or Restart account,  an individual must meet the standard IECU membership eligibility requirements. A Member Services Representative can discuss these with you, or view a detailed list on our Membership page.

This document lists your present balance and all drafts which have cleared your account, and any ACH / Direct Deposit, or ATM / VISA Card Activity.


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