Skip to Main Content

Funds Availability Policy

This disclosure describes your ability to withdraw funds at Federated Employees Credit Union. It only applies to the availability of funds
in your transaction accounts (e.g., checking accounts). We reserve the right to delay the availability of funds deposited to accounts that
are not transaction accounts for periods longer than those outlined in this disclosure. Please ask us if you have a question about which
accounts are affected by our availability policy.

For purposes of this disclosure, the terms "you" or "your" mean the member, and the terms "our," "we," or "us" mean Federated
Employees Credit Union. The term "check" means check or share draft, as applicable.

1. YOUR ABILITY TO WITHDRAW FUNDS – 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 p.m. 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 our cutoff hour or on a day we are not open, we will consider that the deposit was made on the
next business day we are open.

2. LONGER DELAYS MAY APPLY – In some cases, we will not make all of 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 you deposit, funds may not be available until the
second business day after the day of your deposit. The first $275.00 of your deposits, however, may 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 send you the notice by the
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.

In addition, funds you deposit 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 $6,725.00 on any one day.
  • You redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency, such as failure of computer or communications 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 seventh business day after the day of your deposit.

3. 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 $6,725.00 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 first 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 $6,725.00 will be available on the ninth business day after the day of
your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first
$6,725.00 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 ninth business day after the day of your deposit.

4. HOLDS ON OTHER FUNDS FOR CHECK CASHING – 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.

5. HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT – 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.

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