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ncbfcu@verizon.net
Your
savings federally insured to at least $100,000 and backed by
the full faith and credit of the United States Government
National Credit Union Administration
A U.S.
Government Agency
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This Disclosure describes your ability to withdraw funds at
New
Castle Bellco Federal Credit Union
1. General Policy. Our policy is to make funds from
your cash and check deposits available to you on the same business
day that 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 before 3:00 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 3:00 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.
2. 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 that we receive 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 $100.00 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 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 you the notice by the next business day after we
recieve your deposit. If you will need the funds from a deposit
right away, you should ask us when the funds will be available.
3. Holds on Other Funds. If we cash a check for you that is drawn
on another financial institution, we may withhold the availability
of a corresponding amount of funds that are already in your account.
Those funds will be available at the time funds from the check
we cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another financial
institution, we may make funds from the deposit available for
withdrawal immediately, but delay your availability to withdraw
a corresponding amount of funds that you have on deposit in another
account with us. The funds in the other account would then not
be available for withdrawal until the time periods that are described
elsewhere in this disclosure for the type of check that you deposited.
4. 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:
- We believe
a check you deposit will not be paid
- 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 (6) 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. They will generally be available no later than the
eleventh business day after the day of your deposit.
5. Special Rules for New Accounts. If you are a new member,
the following special rules will apply during the first thirty
(30) days your account is open.
Funds from electronic direct deposits to your account will be
available on the day we receive the deposit. Funds from deposits
of cash, wire transfers, and the first $5,000 of a day's total
deposits of cashier's, certified, teller's, traveler's, and federal,
state, and local government checks will be available on he next
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 will be available on the ninth business
day after the day of your deposit. If your deposit of these checks
(other than a U.S. Treasury check) is not made in person to one
of our employees, the first $5,000 will not be available until
the second business day after the day of your deposit. Funds
from all other check deposits will be available on the ninth
business day after the day of your deposit.
6. Deposits
at Nonproprietary
ATMs.
Funds from any deposits (cash or checks) made at automated teller
machines (ATMs) we do not own or operate will not be available
until the fifth business day after the date of your deposit.
This rule does not apply at ATMs that we own or operate. All
ATMs that we own or operate are identified as our machines.
7. Foreign Checks. Checks drawn on financial institutions
located outside the U.S. (foreign checks) cannot be processed
the same as checks drawn on U.S. financial institutions. Foreign
checks are exempt from the policies outlined in this disclosure.
Generally, the availability of funds for deposits of foreign
checks will be delayed for the time it takes us to collect the
funds fro the financial institutions upon which it is drawn.
8CUNA Mutual Business
Services, Inc., 1993, 2000. Rev. 1/00
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