WACOPSE FEDERAL CREDIT UNION

FUNDS AVAILABILITY POLICY DISCLOSURE

This policy disclosure describes your ability to withdraw funds at WACOPSE Federal Credit Union. It only applies to the availability of funds in “transaction accounts”. Transaction accounts are accounts that do not limit the number or types of withdrawals or transfers you may make.

The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy. Please ask us if you have a question about which of your accounts are affected by this policy.

1. GENERAL POLICY – Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written.

2. DETERMINING THE AVAILABILITY OF A DEPOSIT – When we delay the availability of a deposit the length of the delay is determined by counting the business days from the day of your deposit. Everyday is a business day except Saturdays, Sundays, and federal holidays. We have different cut-off hours for different locations. The earliest cut-off hour that might apply is Monday/Tuesday/Thursday 5:00 p.m., Wednesday 1:00 p.m., and Friday 6:00 p.m. (The earliest cut-off hour that might apply for deposits at an ATM that we own or operate is Monday/Tuesday/Thursday 5:00 p.m., Wednesday 1:00 p.m., and Friday 6:00 p.m.) If you make a deposit before our cut-off hour 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 our cut-off hour or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Our cut-off hours are available at the Credit Union.

The length of the delay varies depending on the type of deposit and is explained below.

3. SAME DAY AVAILABILITY – Funds from electronic direct deposits to your account will be available on the same business day we receive the deposit.

4. NEXT DAY AVAILABILITY – Funds from the following deposits are available by the first business day after your deposit:

• U.S. Treasury checks that are payable to you.
• Wire transfers.
• Checks drawn on WACOPSE Federal Credit Union.

5. NEXT-DAY AVAILABILITY FOR CERTAIN DEPOSITS MADE IN PERSON – Funds from the following deposits are available by the first business day after the day we receive your deposit if you make the deposit in person to one of our employees:

• Cash.
• State and local government checks that are payable to you.
• Cashiers, certified, and teller’s checks that are payable to you.
• Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available by the second business day after the day we receive your deposit.

6. AVAILABILITY OF OTHER CHECK DEPOSITS – The fist $100.00 from a deposit of other checks will be available by the first business day after the day of your deposit. The remaining funds will be available by the second business day after the day of your deposit. For example, if you deposit a check of $700.00 on a Monday, $100.00 of the deposit will be available by Tuesday. The remaining $600.00 will be available by Wednesday.

7. CASH WITHDRAWAL LIMITATION – We place certain limitations on withdrawals in cash. In general, $100.00 of a deposit is available for withdrawal in cash by the first business day after the day of the deposit. Any remaining funds will be available for withdrawal in cash by the following business day.

8. 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.