Members of Eastern Credit Union have access to External and Internal Standing Orders (also known as pre-authorized transactions).
External Standing Order
An External Standing Order is a financial arrangement to process an automatic pre-authorized transaction that allows you, the Member, to transfer funds from any Eastern Credit Union savings account to another institution. There is a small Service Charge of $5.00 for External Standing Orders.
Internal Standing Order
An Internal Standing Order enables a Member to process an automatic transaction from one internal savings account to another internal account, e.g. from a deposit to a Loan account. There is no charge for Internal Standing Orders.
The use of Standing Orders offers Members a safe, efficient and convenient means of making regular payments and can be easily set up or canceled.