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Funds Availability

This disclosure describes your ability to withdraw funds at Destinations 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 accounts are affected by this policy.

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. with staff at one of our branches on a business day that we are open or before 3:00 p.m. at an ATM that we own or operate 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.

Longer Holds May Apply: 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. Funds may not be available until the second business day after the day of your deposit. Depending on the type of check that you deposit and where you make your deposit, funds may not be available up until the 7th business day. However, the first $275.00 of your deposit will be available generally on the first (1st) 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 receive your deposit. If you need the funds from a deposit right away, you should ask when the funds will be available, but further review of the deposit after we receive it may still result in delayed availability.

We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

  • Reasonable Cause to Doubt Collectability – Used when we believe a check you deposit will not be paid.
  • Large deposits – Used when you deposit check(s) with an aggregate total of more than $6,725 on any (1) day to one or more accounts to which you are a party on.
  • Re‐deposited checks – Used when you redeposit a check that has been returned unpaid.
  • Repeated overdrafts – Used when you have overdrawn your account repeatedly in the last six

(6) months.

  • Emergency conditions – Used when there is an emergency, such as failure of computer equipment or communications.

Checks that are held for the reasons above may not be available for an additional four business days and an additional five business days for checks deposited at non‐proprietary ATMs. 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.

Holds on Other Funds: If we cash a check for you that is drawn on another financial institution, it may result in a hold being placed against existing funds in your Savings or Checking share for the amount of the cashed check. Those funds will be available at the time the 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 not be available for withdrawal until the time periods that are described elsewhere in the disclosure for the type of check you deposited.

Deposits Made At DCU ATMs and Non‐Proprietary ATMs:

We may delay availability of funds from deposits at ATMs as follows:

Proprietary ATM: Funds from cash deposits will be made available immediately. Funds from check deposits made at an ATM that we own or operate will be available by the second (2nd) business day after the date of your deposit if deposited by 3:00 p.m. The first $275 may be made available on the next business day after the business day of deposit.

Non‐Proprietary ATM: Funds from cash deposited will be made available immediately. A check deposited at a non‐proprietary ATM will generally be available not later than the fifth business day following the banking day on which the funds are deposited unless a longer hold applies (see the section above).

However, the first $275 of the check deposit will be available by the next business day after the business day of deposit.

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 made prior to 3:00p.m. will be available the same business day it is deposited. Funds from Wire Transfers and the first $6,725 of a day’s total deposit of Cashier’s, Official, Certified, Teller’s, Traveler’s checks, federal, state, local government, DCU checks, and payroll checks will be available on the next business day after the day of your deposit if the deposit meets certain conditions.

For example, the checks must be payable to you and deposited into a Membership with your name. The excess over $6,725 will be available on the seventh (7th) business day after the day of your deposit. If your deposit of these checks (other than U.S. Treasury Check) is not made in person to one of our employees, the first $6,725 will not be available until the second business day after the day of your deposit. Funds from all other checks will be available on the seventh (7th) business day after the day of your deposit, providing a longer delay does not apply, which the funds may not be available up to the ninth (9th) business day.

8767 Satyr Hill Rd., Baltimore, MD 21234 410‐663‐2500 www.destinationscu.org 

Rev. 07/25