§ 14857 Member Share Cancellation Rights

• •If you owe money to a credit union, they can use your account money to pay it back if you leave or get kicked out.
• •They can only take enough to cover what you owe—they’ll give you back any extra money.
• •This only applies if you’re leaving the credit union or getting expelled.

You have $1,000 in a credit union account, but you owe them $800 for a loan. You decide to leave the credit union.

The credit union can take the $1,000 from your account to pay off the $800 you owe them. They’ll give you back the remaining $200.