Why doesn’t the credit union accept two party checks?
Credit Unions are financial cooperatives, owned and controlled by members. Profits, partly generated by keeping cost and risk low, are returned in the form of lower loan rates and higher interest rates on deposits. Processing a signed over check is essentially cashing a check for a non-member. This person does not have a relationship with the credit union, making it a higher risk transaction with no way to recoup the cost of the service. If the person who is signing the check over is a family or household member of an Oregonians Credit Union member, he or she may be eligible for membership.