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Funds Availability

It is the policy of the EFFCU to make funds from your deposits available to you as soon as possible.
For determining availability of your deposits, every day is a business day except Saturdays, Sundays, and federal holidays. You can withdraw the funds in the form of a check and we will also use the funds to pay share drafts (checks) you have written.

  • We will consider a cash deposit made in person as being made on that business day and available that same business day.
  • We will consider funds deposited into your account through wire transfer to be available the same business day we receive the transfer.
  • We will consider a check deposit from a government, teller’s, cashier’s, certified, or traveler’s check that is made in person to be available the same business day.
  • We will consider a check deposit mailed to the office as being made on the business day we receive it and available that same business day.

In some cases, we will not make all funds that you deposit by check available to you on the same business day of your deposit. Depending on the type of check deposited, funds may not be available until the fifth business day after the day of deposit. However, the first $100 of your deposit will be available on the same business day you make your deposit.

Deposits made by check may be delayed for a longer period if:

  • we believe a check you deposited will not be paid;
  • you deposit checks totaling more than $5,000 on any one day;
  • you redeposit a check that has been returned unpaid;
  • you have overdrawn your account repeatedly within the last six months;
  • there is an emergency, such as failure of communications or computer equipment.

If we are not going to make all funds from your deposit available the same business day, we will inform you when you make your deposit. If you have made your deposit in person, we will tell you when the funds will be available. If you made your deposit by any other means than in person, we will mail a notice to you on the next business day after we received your deposit. They will generally be available no later than the ninth business day after the date of the deposit.

If you will need the funds from a deposit right away, you should ask when the funds will be available.

Any changes to this policy may be made in whole or in part without prior written notice to the members by the action of the Board of Directors.