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Alliance Federal Credit Union's policy, in
general, is to make the first $100.00 from your
Deposited funds available to you the day of
deposit. Any additional funds deposited that day
will be available to you on the next business
day. |
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In some cases, longer delays may apply.
Alliance Federal Credit Union reserves the
right to strictly follow Federal Reserve
Funds Availability on any deposit. The
Credit Union at its discretion may hold or
restrict availability on deposits according
to Federal Reserve Regulation CC. The Credit
Union reserves the right to limit the total
amount of cash back for any one day to
$2,500.00. Should the Credit Union decide to
delay availability on any deposit, the
following schedule will be used:
Same Day Availability: Funds from
deposits cash, wire transfers, and of
Federal, State and local government checks,
and the first $100.00 of any non-cash
deposit will be available the day of
deposit.
Three Day Availability: Funds from
local checks, those drawn on or payable
through an institution located in the same
Federal Reserve check processing region,
will be available for withdrawal by the
third business day after the banking day of
deposit.
Seven Day Availability: Funds from
non-local checks, those drawn on or payable
through an institution located in a
different Federal Reserve check processing
region, will be available for withdrawal on
the seventh business day after the banking
day of deposit.
Nine Day Availability: Funds from
deposits Cashiers, Certified,
Tellers, and Travelers checks will be available
for withdrawal by the ninth business day
after the banking day of deposit.
Fifteen Day Availability: Funds
from deposits of credit card checks will be
available for withdrawal by the fifteenth
business day after the banking day of
deposit.
New Accounts: Any account established
at the Credit Union is considered to be a
"new account" for the first 90 days. The
Credit Union may, at its discretion, place a
hold on any non-cash deposit made into a new
account. These funds will be made available
anywhere from 3 to 9 business days after the
day of deposit, depending on whether the
check is considered local or non local.
Funds deposited by check may be delayed for
longer periods under the following
circumstances:
The Credit Union has a reason to believe a
check will not be paid.
Deposited checks total more than $2,500.00
on any one day.
Redeposit of a check that has been returned
unpaid.
The account of the deposit has been
overdrawn repeatedly in the last six months.
There is an emergency, such as failure of
communications or computer equipment.
Deposits made into new accounts that are
less than 90 days old.
The Credit Union will notify the member if
there will be a delay in the ability to
withdraw funds for any reason and the member
will be told when the funds will be
available. |
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