Dormant Accounts

At Memorial Credit Union we understand accounts go unused for many different reasons. You may have moved, you may have simply forgotten you had an account with us, or maybe a family member/parent opened an account for you years ago and you had no idea. While we hope you continue utilizing our services, we want you to be aware of how an account can become dormant.

What causes an account to go dormant?

  • Dormant accounts are defined as accounts that have had no activity on shares/savings or loans for a period of 12 months or more.


What can you do to prevent your account from going dormant?
Stay active with MCU!

  • Members will be reminded to keep their account active by making at least one deposit, withdrawal, or transfer to their account per year.
  • Set up direct deposit
  • Use your debit or credit card
  • Conduct regular transactions on your account or at minimum, once a year

Fees on all accounts shall be assessed at $2 per month after 12 months of inactivity. The fee shall continue monthly until the balance in the account is zero and the account is closed, or the account has been reactivated.


Have your funds ever been escheated?
Any account that is dormant three years or more, the balance in the account will automatically be escheated to the State of Texas Unclaimed Property Division. The credit union will make necessary attempts to contact dormant accounts before the funds are escheated to the state.  This makes it essential that addresses and phone numbers on all accounts are current and up to date.


If your account has been flagged as dormant, but not yet closed and submitted to the State, please contact Memorial Credit Union at 713-778-6300 to remove the dormancy flag.