Funds Availability Policy
Our general policy is to allow you to withdraw funds deposited into your account on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 4:00pm on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 4:00pm or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Longer Delays May Apply: In some cases, we may delay your ability to withdraw funds beyond the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $200 of your deposits, however, may be available on the first business day.
Funds you deposit by check may be delayed for a longer period under the following circumstances: • We believe a check you deposit will not be paid • You deposit checks totaling more than $5,000 on any one day • You redeposit a check that has been returned unpaid • You have overdrawn your account repeatedly in the last six months • Your account was opened within the past 30 days • There is an emergency, such as failure of computer or communications equipment.
We will notify you at the time you make your deposit if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fifth business day after the day of your deposit. If your deposit is not made directly to one of our employees, we will mail you the notice by the day after we receive your deposit.
Checks Made Payable to Individuals Who Are Not on the Account: When a check (including U.S. Treasury tax refund checks) is made payable to both you and your spouse, but only one of you is on the account, the payee who is not on the account must come in to the credit union and present a valid Driver’s License, Passport or another valid form of identification.