Funds Availability Policy

Your Ability to Withdraw Funds

This policy applies to checking accounts, deposits to other accounts may be subject to longer holds than those disclosed in this policy. When a deposit is made to your account, the funds may not be available immediately. In most situations, your deposit will be available the first business day after the day of your deposit. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay items presented against your account.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

DETERMINING THE AVAILABILITY OF A DEPOSIT – The length of the delay is counted in business days from the day of your deposit. Our business days are Monday through Friday with the exception of Saturday, Sunday, and Federal holidays.

Below is our general policy for accounts opened longer than 30 days. Longer delays may apply, and different rules apply to checks deposited to accounts opened less than 30 days as outlined below. The length of the delay varies depending on the type of deposit and is explained in the following:

*Non-Proprietary ATMs are machines that we do not own or operate. Proprietary ATMs are ATMs that we own and operate and are identifiable by our name displayed on the ATM. Deposits made at Proprietary ATMs will generally be available on the second business day after the day of deposit.

If we cash a check for you that is drawn on another bank, 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 bank, 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 – 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 $5,525 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months, or overdrawn your account greater than $5,525 in the last six months.
• There is an emergency, such as failure of computer or communications equipment.

We will inform 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. 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 a notice no later than the next business day after we receive your deposit. Funds will generally be available no later than the sixth business day after the day of your deposit. If you will need the funds from the deposit right away, you should ask us when the funds will be available. 

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.  Longer delays may apply as outlined above.

• Funds from electronic direct deposits to your account will be available on the business day we receive the deposit.
• Funds from deposits of cash, wire transfers, and the first $5,525 of a day’s total deposits of Cashier’s, Certified, Teller’s, Traveler’s, Federal Reserve Bank Checks, Federal Home Loan Bank Checks, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions.
• For example, the checks must be payable to you and deposited in person.
• The excess over $5,525 of a day’s deposits will be available on the ninth business day after the day of your deposit.
• If your deposit of checks (other than a U.S. Treasury check) is not made in person, the first $5,525 will not be available until the second business day after the day of your deposit.
• Funds from all other check deposits not previously defined in the above availability schedule will be available on the fourth business day after the day of deposit.

FOREIGN CHECKS – Checks or drafts drawn on financial institutions located outside the U.S. (foreign checks or drafts) cannot be processed the same as checks or drafts drawn on U.S. financial institutions. Foreign checks or drafts are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks or drafts will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn.