Funds Availability

York Educational Federal Credit Union

Funds Availability Policy

Your Ability to Withdraw Funds At York Educational Federal Credit Union

Our policy is to make funds from your deposits available to you on the same business day we receive your deposit. At that time, you can withdraw the funds in cash and/or 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 before 5:00 p.m. 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 5:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Reservation Of Right To Hold

In some cases, we will not make all of the funds that you deposit by check available to you on the same business day as the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after the day of your deposit. If we are not going to 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 we decide to take this action after you have left the premises, we will mail you the notice by the business day after we receive your deposit. If you need the funds from a deposit right away, you should ask us when the funds will be available.

Longer Delays May Apply

We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

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

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 fourth business day after the day your deposit is otherwise available for withdrawal.

Special Rules For New Accounts

If you are a new member, the following special rules will apply during the first 30 days your account is open:

The first $5,000.00 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,000.00 will be available on the 5th business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after the day we receive the transfer.

Funds from deposits of cash and the first $5,000.00 of a day's total deposits of cashier's, certified, teller's, traveler's and state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000.00 will be available on the fifth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, the first $5,000.00 will not be available until the second business day after the day of your deposit.

Funds from deposits of checks drawn on York Educational Federal Credit Union will be available on the second business day after the day of your deposit.

Funds from all other check deposits will be available not later than the fifth business day of your deposit.