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Can credit union checking be garnished?

Are they the same as banks?

asked by shimapan (8)

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Tags:  debt  legal

answers

No. Garnishment comes from your paycheck before you even see it, so it doesn't matter if you even have a checking account, let alone which financial institution it is with.

  • This is incorrect. A credit card company can garnish your checking and/or savings account. I just went through it. They are not allowed to garnish Social Security or disability however.
    posted by Anonymous
7 votes

Yes you checking account can be garnished as this is considered the same type of banking account that you have with a bank. Both banks and credit unions are similar in that matter.

7 votes

Any assets like checking and savings accounts can be attached through court order. The courts send out notification to all lenders requiring them to attach assets. The lenders are required by law to comply and are paid a fee that comes out of the attached assets. Banks, credit unions, and savings and loan accounts are all subject to garnishment.

reply
posted by patti (17220)
6 votes

Yes, a court can order a credit union to pay a garnishment in the same way it can do with a bank. The rules are very clear in this regard, to protect the interests of the person or company who has the garnishment on your wages. Each state is a little different, but the result is the same.

4 votes

The only difference between credit unions and banks is that credit unions are set up as non-profits. Your checking account can be garnished no matter where it is.

3 votes

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