banking question

[Joy799]

I'm sure it's something simple but I recieved a bank statement today and it the middle of it it says Accr Earning Payment $0.05

Does anyone know what this means, thanks

[kimiko]

Some form of cash back program or automatic saving thing, like Bank of America rounding out the change.

[Joan.of.the.Arch]

Is it really a credit union? It sounds to me like something a credit union might call the dividend paid on the share(s) you bought to become a member of the CU.

[MYOM]

I think that stands for Accrued Earnings Payment. That would be considered interest paid on the average balance for the previous month.

Dan Clemons, author and retired Certified Financial Planne