Revised: December 2021 | Effective: December 29, 2021
Determining the Availability of a Deposit
This Notice describes your ability to withdraw funds at Skyline Financial Federal Credit Union (SFFCU). It only applies to the availability of funds in transaction accounts. 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 accounts are affected by this policy.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Deposit Availability
Type of deposit |
Funds will be available |
Cash |
Same-Day |
Direct Depost and other electronic credits |
Same-Day |
Wire Transfers |
Same-Day |
Personal Checks |
- Amounts up to $225 -- Same Day
- Amounts between $226 - $5,525 -- Next Business Day
- Amounts in excess of $5,525 -- 7th Business Day
|
Other checks deposited by ATM owned by SFFCU |
- Amounts up to $225 -- Same Day
- Amounts between $226 - $5,525 -- Next Business Day
- Amounts in excess of $5,525 -- 7th Business Day
|
Government Checks – i.e., U.S. Treasury checks, U.S. Postal Service money orders, checks drawn by the State or an agency of the State or a branch of local government deposited in an account held by the payee of the check. |
- Amounts up to $5,525 – Same Day
- Amounts in excess of $5,525 -- 7th Business Day
|
Depository Checks - i.e., Travelers Cheques, cashier's checks, certified checks, and money orders. |
- Amounts up to $5,525 – Same Day
- Amounts in excess of $5,525 -- 7th Business Day
|
Checks on Us - i.e., checks drawn against accounts of SFFCU with sufficient funds. |
- Amounts up to $5,525 – Same Day
- Amounts in excess of $5,525 -- 7th Business Day
|
SFFCU will place a hold on deposits where evidence suggests a forgery or fraud |
Case-By-Case Holds |
Deposit Availability with Specific Exception Holds
Type of deposit |
Funds will be available |
We believe a check you deposit will not be paid |
Longer Delays May Apply |
You deposit checks totaling more than $5,525 on any day |
Longer Delays May Apply |
You deposit a check that has been returned unpaid |
Longer Delays May Apply |
You have overdrawn your account repeatedly in the last six (6) months |
Longer Delays May Apply |
There is an emergency, such as failure of communications or computer equipment |
Longer Delays May Apply |
New accounts - Less than 30-days old |
Longer Delays May Apply |
Large Deposits Exceeding $5,525 |
Longer Delays May Apply |