Funds Availability Policy Notice
CHANGE IN TERMS NOTICE - FUNDS AVAILABILITY POLICY
Due to changes in Federal Regulation CC, the amount of funds that must be available to you have changed effective July 1, 2025. The new amounts, as well as the old amounts, are stated below.
Our policy is to make funds from deposits available on the first business day after the day we receive a deposit. Electronic direct deposits, cash, and wire transfers will be available on the day we receive the deposit. Once they are available, funds can be withdrawn in cash and we will use the funds to pay checks that have been written.
For determining the availability of deposits, every day is a business day, except Saturdays, Sundays and federal holidays. If a deposit is made before the close of a business day, we will consider that day to be the day of deposit. However, if a deposit is made on a non-business day, we will consider that deposit to have been made on the next business day we are open.
LONGER DELAYS MAY APPLY
Case-By-Case Delays – In some cases, we will not make all of the funds that are deposited by check available on the first business day after the day of deposit. Depending on the type of check that is deposited, funds may not be available until the second business day after the day of deposit. However, the first $275.00 of the deposit will be available on the first business day after the day of deposit. This amount has been increased from $225.00.
If we are not going to make all of the funds from a deposit available on the first business day, we will notify you at the time a deposit is made. We will also tell you when the funds will be available. If a deposit is not made directly to one of our employees, or if we decide to take this action after the customer has left the premises, we will mail the customer a notice by the day after we receive the deposit.
SAFEGUARD EXCEPTIONS- In addition, funds deposited by check may be delayed for a longer period under the following circumstances:
We believe a check that is deposited will not be paid.
Checks totaling more than $6,725.00 on any one day were deposited. This amount has been increased from $5,525.00.
A check that has been returned unpaid and was redeposited.
The account has been overdrawn repeatedly in the last six months.
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. Funds will generally be available no later than the seventh business day after the day of deposit.
SPECIAL RULES FOR NEW ACCOUNTS
Funds from cash, wire transfers, and electronic direct deposits into an account will be available on the day we receive the deposit. Funds from the first $6,725.00 of a day’s total deposits of checks drawn on us will also be available the day of deposit. Funds from the first $6,725.00 of a day’s total deposits of cashier’s, certified, teller’s, and federal, state and local government checks will be available on the first business day after the day of the deposit if the deposit meets certain conditions. For example, the checks must be payable to the customer (and the customer may have to use a special deposit slip). The excess over $6,725.00 will be available on the ninth business day after the day of deposit. If the deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $6,725.00 will not be available until the second business day after the day of deposit This amount has been increased from $5,525.00.
Funds from all other deposits will generally be available on the eleventh business day after the day of your deposit.
Should you have any questions about our funds availability policy, please do not hesitate to contact us.
