Funds Availability Policy

A.  GENERAL POLICY

Our policy is to make available funds that you deposit in your account the first business day after the day you make the deposit.  However, in some circumstances, delays may occur.  During the delay, you many not withdraw the funds or use the funds to pay checks that you have written.

B.  DETERMINING THE AVAILABILITY OF THE DEPOSIT

The length of the delay is counted in business days from the day of your deposit.  Every day is a business day except Saturdays, Sundays, and federal holidays.  If you make a deposit before 4:30 p.m. on a business day we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after 4:30 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

The length of any delay varies depending on the type of deposit and is explained below:

Deposit Type When Funds are Available
Direct Deposit Day we receive the deposit
  • Cash
  • Wire Transfers
  • ACH Credit Transfers
  • Checks drawn on FECU (on-us checks)
  • Checks payable to depositor:
    • US Treasury Checks
    • US Money Orders
    • Federal Reserve Bank & Federal Home
    • Loan Bank checks
    • State and Government Checks
    • Cashier, Certified, or Tellers Checks
    • Federated Insurance payroll checks or other checks issued by Federated Insurance
 The first business day after the day of the deposit.
All other checks except as noted in paragraph C below. $200 will be available the first business day after the day of the deposit. The remaining will be available the second business day after the day of the deposit.
Any deposit made at an ATM that we do not own. The fifth business day.

 

C.  LONGER DELAYS MAY APPLY

In some cases longer delays may apply.  You will be notified within 24 hours if we delay your funds for a longer period.  Checks and accounts with the following exceptions will be subject to a longer hold period:

  • Repeated overdrawn account or NSF items
  • Re-deposited NSF items
  • Reason to doubt the collectability
  • Item over $5,000 ($200 released next business day, next $4,800 released after the 5th business day, rest released after 7th business day)
  • Checks deposited under emergency conditions that prevent FECU from processing checks as it normally does.
  • New account opened in the last 30 days.

D. These holds are in compliance with Regulation CC established by the Federal Reserve Board.