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FUNDS AVAILABILITY POLICY
This Disclosure describes your ability to withdraw funds at Vantria Federal Credit Union.
- 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 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. We have different
deposit cut-off hours for different deposit locations. The earliest
cut-off time that might apply is 12:00 p.m. If you make a deposit
before our cut-off hour 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 cut-off 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. Our cut-off hours are available at the
Credit Union.
- Reservation of Right to Hold. 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 that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100.00 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 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.
- Longer Delays May Apply. We may delay your ability to withdraw funds deposited by the check into your account an additional number of days for these reasons:
- We believe a check you deposit will not be paid.
- You deposit checks totaling more than $5,000.00 on any one day.
- You deposit 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 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 eleventh business day after the 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 $5,000.00 of a day's total deposits of cashier's checks, 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 made payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than U.S. 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 ninth business day after the day of your deposit.
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Savings insured to at least $100,000 by NCUA |
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