Both of these terms refer to types of Secondary Names records that can be linked to individual savings, checking, certificate and IRA accounts.  There are actually three types of links, tracked via records in the SECNAMES (Secondary Names) database table:
  1. Joint owners (type "J")
  2. Beneficiaries (type "B")
  3. Miscellaneous owners (type "M" - added with the 18.10 release)
All are simply links from an account to another membership (MASTER) or non-member (MSNONMBR) record.  Labels used when displaying the J and M types on various CU*BASE screens can be customized by the credit union via the Membership Designation code.  

Miscellaneous owners, which were introduced with the 18.10 release, are commonly used for things such as tracking beneficial ownership relationships on organizational accounts per BSA requirements.  They might also be used for payable on death (POD) or power of attorney (POA) relationships for other types of memberships, based on Membership Designation code. 

Other differences between type "M" misc. owners and type "J" joint owners:
  • Misc. owners are NOT listed in the "Choose an Owner" window, meaning tellers cannot serve a misc. owner using the Teller Currently Serving functionality.
  • Misc. owners are NOT printed on member statements.
  • Misc. owners are NOT allowed to set up See/Jump privileges in online/mobile banking.
  • Misc. owners can NOT be specified by members via online membership applications or when creating new account via online/mobile banking.
  • Misc. owners do NOT print on any misc. member account forms (TIS disclosures, membership forms, etc.) or the laser CD form.
  • Misc. owners can NOT be set up to receive ANR/Negative Balance notices.
  • Misc. owners names do NOT print on teller receipts.
  • Misc. owners names are NOT used by shared branching (including national shared branch interfaces).
  • Accounts owned by misc. owners will NOT appear on the "My Other Accounts" screen (via Teller, Inquiry, or Phone Op).
  • Misc. owners do NOT appear on CTR forms.
  • Misc. owners do NOT appear on the share insurance reports.
  • Misc. owners are NOT used by the online banking voting feature.
  • Misc. owners are run through OFAC scans (because they are simply another member or non-member record, just like any secondary name).
  • Misc. owners are run through FinCEN scans, just like any secondary name.
  • Misc. owners could be added to your custom forms or downloads, if requested. (Subject to normal programming fees.)