FUNDS AVAILABILITY POLICY
Our policy is to make funds that are deposited (except personal check deposits) to one of our employees available to you on the same business day 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 to one of our employees 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 on a day we are not open, the deposit will be treated as if it were made on the next business day we are open.
Personal Check Deposits
The delay for personal check deposits depends on whether we can verify funds availability from the institution the check is issued from:
Note: Some institutions charge a fee for verification of funds, when this occurs the cost will be passed on to you.
Longer Delays May Apply
In some cases, we will not make all of the funds you deposit by share draft/check available to you on the same business day as your deposit. Depending of the type of share draft/check you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposits will be available on the first business day.
If we don't 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 mail a notice to you the day after 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 by share draft/check may be delayed for a longer period under the following circumstances:
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 11th business day after the day of your deposit.
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