On Sat, 01 Oct 2011 21:58:46 -0700, SMS wrote:

On 10/1/2011 5:37 PM, zzzzzzzzzz wrote:

A *long* time ago, CUs weren't allowed to clear checks through the system.
They got around it by affiliating with a bank and issuing "drafts". Same
thing, usually. That changed at least 20 years ago, though. CUs also can't
do commercial accounts, so there are some differences but for most, CUs are
the way to go.

I have a commercial account at a credit union. In fact they told me they
could no longer accept checks made out to my business into my personal
CU account anymore (they had been able to do that previously) and said
that it could only be done in a commercial account. All they needed was
my fictitious name notice to open the commercial account.

I didn't know they'd changed that. Interesting. No wonder the commercial
banks are ****ed at CUs.