They are deposits only. No withdrawals can be made. So, for ACH, we will be sending the evidence of the ACH deposit each time one is made.
For people who make a deposit in person, teller gives the deposit slip.
Based on this, do we still need to provide a periodic statement?
Also, some people have tied their checking account to this account and arranged for ACH deposits. In view of this, do we still have to provide a separate periodic statement for the club account?
Need to settle differences of opinion.