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Funds Availability Policy
Check Holds (Reg CC)
Next Business Day Items (Spencerport FCU does not place holds on these items)
- Cash
- On-us checks (Checks drawn on Spencerport FCU)
- Treasury, state, and local government checks
- U.S. Postal Money Orders
- Checks drawn on Federal Reserve Bank or Federal Home Loan Bank
- Cashiers, certified, official, and teller checks.
Second Business Day Items (All other checks) (must be available on the second business day after deposit) ($100 available next business day)
- All checks not listed as a Next Business Day Item
- If not deposited in person:
- Treasury, state, and local government checks
- U.S. Postal Money Orders
- Checks drawn on Federal Reserve Bank or Federal Home Loan Bank
- Cashiers, certified, official, and teller checks.
Above are the standard holds that may be placed. If certain conditions are met, Second Business Day Items, excluding Next Business Day Items & Next Business Day Items not deposited in person , may be extended for an additional 5 business days for a total hold of 7 business days.
The account is less than 30 days old.
(SFCU chooses to have this option as a guideline for new accounts) |
Member was overdrawn 6 or more days in the past 6 months. |
Emergency has occurred such as computer failure. |
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The deposited was previously returned. |
Collectability is doubted. |
Checks deposited exceed $5,000. First $5,000 is still subject to standard availability anything over that can have extended hold. |
Extended Hold Conditions:
If funds not deposited in person are held, or if we place an extended hold, or place a hold after the deposit is made we must send/give the member the Notice of Hold.
- Holds are calculated based on business, not calendar days, and do not include the date of deposit.
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