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• A legal process allowing a financial institution to remove funds from your deposit or share account to satisfy a debt that you have not paid. If you owe money to a person or company, they can obtain a court order directing your financial institution to take money out of your account to pay off your debt. Not all states allow garnishment actions.

  National Credit Union Administration - Cite This Source - This Definition
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  Cite Definition for Garnishment/Garnish

  American Psychological Association (APA)

  Garnishment/Garnish. (n.d.). Pocket Cents Glossary. Retrieved May 29, 2023, from website: http://www.expertglossary.com/definition/garnishment-garnish.

  Chicago Manual of Style (CMS)

  Garnishment/Garnish. www.mycreditunion.gov. Pocket Cents Glossary. National Credit Union Administration. http://www.expertglossary.com/definition/garnishment-garnish (accessed: May 29, 2023).

  Modern Language Association (MLA)

  "Garnishment/Garnish." Pocket Cents Glossary. National Credit Union Administration. 29 May. 2023 http://www.expertglossary.com/definition/garnishment-garnish.

• Browse Related Terms: Automated Clearing House (ACH), Automated Teller Machine (ATM), Error Resolution, Frozen Account, Garnishment/Garnish, General account, Joint Account, Margin account, Minimum Amount to Open, Point of Sale (POS), Right of offset, statement

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