Common use of Funds Availability Policy Clause in Contracts

Funds Availability Policy. 1. General Policy. For savings accounts, we reserve the right to place reasonable holds on deposits to the extent permitted by law. For checking accounts, our policy is to make your deposits available on the first business day that we receive your deposit funds, subject to the following terms and conditions. Electronic direct deposit funds will be available on the day when 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, electronic withdrawals, ATM and POS withdrawals. For determining when your deposits are available, every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit before 5:30 p.m. at a branch office or noon at Credit Union ATMs 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 5:30 p.m. at a branch office or noon at Credit Union ATMs, or on a day we are not open, we will consider the deposit was made on the next business day we are open.

Funds Availability Policy. 1. General Policy. For savings accounts, we reserve the right to place reasonable holds on deposits to the extent permitted by law. For checking accounts, our policy is to make your deposits available on the first business day that we receive your deposit funds, subject to the following terms and conditions. Electronic direct deposit funds will be available on the day when 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, electronic withdrawals, ATM and POS withdrawals. For determining when your deposits are available, every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit before 5:30 p.m. at a branch office or noon at Credit Union ATMs 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 5:30 p.m. at a branch office or noon at Credit Union ATMs, ATMs or on a day we are not open, we will consider the deposit was made on the next business day we are open.