Casa 2 Savings

[dree812004]

A friend has mentioned she had a loan and her sister paid it up front for her but set up a Casa 2 account for her in order to pay back into this way saving back the amount the sister had paid for her and additional cash can anyone advise I am trying to google but I could have names of accounts etc wrong definitely she said Credit Union Accounts and Loans?

 

[Boyd]

Im not sure what are you actually here? What is a CASA 2 account?

Is the requirement not simply for person A to set up an (any savings) account into which person B can repay the money?

 

[dree812004]

A friend told me she had a Casa 2 account in a credit union and this allowed her to save and make money on her savings i cannot find anything on lone so wondering if anyone else could shine some light on this

 

[Boyd]

Make money on her savings? You mean interest I assume........almost all savings accounts offer that, otherwise there would be less point in saving as inflation would erode the value of the amount saved.

Googling CASA 2 results in nothing to do with savings or credit union, I suggest you re-ask your friend what they are on about, and also so some initial reading up on savings products available in various banks etc.

Here is a link to the savings best buys: http://www.askaboutmoney.com/showthread.php?t=90481