Deposits received after 4:30 p.m. will be deposited to your account as of the next business day.
General Policy. Our policy is to make funds from your cash and check deposits available to you on the same business day that 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 4:30 pm 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 4:30 pm or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Reservation of Right to Hold. In some cases, we will not make all the funds that you deposit by check available to you on the same business day that we receive your deposit. Depending on the type of check that you deposit, funds may not be available until the second (2nd) business day after the day of your deposit. However, the first $200.00 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the same business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the next business day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Holds on other funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
Longer Delays May Apply. We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:
- We believe a check you deposited will not be paid
- You deposited checks totaling more than $5,000 on any one day
- You deposited a check has has been returned unpaid
- You have overdrawn your account repeatedly in the last six (6) months
- There is an emergency, such as failure of communications or computer equipment
We will notify you 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 (5th) business day after the day of your deposit.
Special Rules for New Accounts. If you are a new member, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s and federal, state, and local government checks will be available on the next business day after the day of your deposit if the deposit meets certain conditions. for example, the checks must be payable to you. The excess over $5,000 will be available on the fifth business day after the day of your deposit. If your deposit of these checks (other than US Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the fifth business day after the day of your deposit.
Deposits at Nonproprietary ATM. Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the second (2rd) business day after the day of deposit. $200.00 of the deposit will be made available for withdraw the next business day and the balance within 48 hours. Example: If you make a deposit on Friday, the first $200.00 will not be available until Monday and the balance will not be made available until Wednesday. This rule does not apply at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.
Deposits made at our ATM will be made available as soon as the machine is opened and all deposits are checked and marked valid. The ATM machine is opened between 8:30 and 9:00 am and also in the afternoon between 3:00 pm and 4:00 pm. Once the deposits are verified, funds are released for withdraw. Therefore any deposits made after 4 pm on Friday will not be available until Monday morning.