Objective
This policy covers and relates to the availability of funds accepted for deposit in demand accounts of this credit union. This policy does not obligate the credit union to accept deposits which it rejects because of suspicion of forgery or other suspicions of fraud or any other reason which in the opinion of the credit union’s officers exposes the credit union to loss or damages.

Definition of Terms
Local Checks: Checks payable by, at, or through a bank located in the same geographic area as this credit union.

Non-local Checks: Any check other than a local check.

Business Days: Mondays, Tuesdays, Wednesdays, Thursdays and Fridays of each week with these exceptions: (1) official holidays declared by the Federal Reserve Banks and by the Board of Directors of this credit union and (2) days this credit union is closed due to national or local emergencies such as fire, power failures and disasters necessitating closure of the credit union. Saturdays and Sundays are never business days.

Time of Availability of Funds Deposited:

1. Cash – available immediately upon deposit.
2. Electronic payments – available upon receipt of notice of deposit.
3. Government checks (including Treasury checks, Government Agency checks and Home Loan Bank checks) – available on the first business day following the day of deposit.
4. Bank checks (checks issued by a legally chartered commercial or savings bank including cashier’s checks, bank money orders, certified checks and teller’s checks) – available on the first business day following the day of deposit.
5. First $200.00 of the aggregate deposit of local or non-local checks – funds available the day following the day of deposit.
6. Local checks above the $200.00 referred to in paragraph 5 above, will be available on the second business day following the day of deposit.
7. Non-local checks above the $200.00 referred to in paragraph 5 above – must be available not later that 5 business days following the day of deposit.