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Funds Availability

General Policy

Our policy is to make your funds available to you as expeditiously as possible using safe and sound business practices. In some cases, we will not make all of the funds that you deposit by check immediately available to you. Electronic direct deposits will be available on the day we receive the deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit.

Generally, the first $200 of your deposit will be available on the business day of your deposit.

However, the first $1,000 of your deposit will be available on the business day of your deposit if:

  • You are a member in good standing, AND
  • You have an average monthly share balance of at least $100 OR you have a current loan with us, other than a Cash Reserve Loan.

The full amount of your deposit will be available on the business day of your deposit if:

  • You have been a member of ESL for at least five years, AND
  • You are a member in good standing, AND
  • You have an average monthly share balance of at least $5,000 OR you have a current loan with us, other than a Cash Reserve Loan or a VISA​® Credit Card.

If we are not going to make all of the funds immediately available to you, we will provide you with a notice at the time you make the 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 day after we receive your deposit. If you need the funds right away, you should ask us when the funds will be available.

Longer Delay May Apply:

Funds you deposit by check may be delayed for longer periods under the following circumstances:

  • 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 past six months.
  • There is an emergency, such as a failure of communication 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. Funds will generally be available no later than the seventh business day after the day of your deposit.

Special Rules for New Accounts:

If you are a new member, the following special rules will apply during the first 30 days your account is open:

The first $200 of your deposit will be available on the business day of your deposit for checks other than Special Checks. For Special Checks, the full amount will be immediately available on the day we receive your deposit if the checks are payable to you. Amounts in excess of the $200 for checks other than Special Checks will be available on the second business day after the day of deposit.​

Specific Availability Policy:

Funds will be available as indicated in the general policy and following the schedule below:

Special Checks:
The full amount of checks deposited by the payee will be available immediately. Special Checks include:

  • U.S. Treasury checks payable to you
  • Federal Reserve Bank checks, Federal Home Loan checks, and U.S. Postal Money Orders payable to you
  • Cashier's checks, certified checks, and teller checks payable to you
  • State and local government checks payable to you
  • Checks or share drafts drawn on ESL Federal Credit Union
  • Checks issued by Eastman Kodak Company and Investment Plan
  • Annuity checks issued by a life insurance company
  • Checks issued by employers within the credit union's Field of Membership

All Checks:
Amounts over the immediate availability amount will be available on the second business day after the day of deposit.

Third Party Checks (Special Checks that are not payable to you):
Amounts over the immediate availability amount will be available as follows:

  • All checks will be available on the second business day after the day of deposit.
Automatic Teller Machine (ATM) Deposits:

Generally, the first $200, $1,000, or the full amount (as described above) of your deposit will be available immediately. The remainder of your deposit will be available no later than the second business day after the day of the deposit (additional delays may apply). U.S. Treasury checks deposited at an ESL ATM will be available on the next business day after the day of deposit. Accrual of dividends on ATM deposits will begin on the day you make the deposit. A maximum of two ATM deposits is allowed each calendar day.

No-Envelope Automatic Teller Machine (ATM) Deposits:

Cash deposited at a No-Envelope ATM will be available immediately. Generally, the first $200, $1,000, or the full amount (as described above) of checks deposited will be available immediately. The remainder of your deposit will be available no later than the second business day after the day of the deposit (additional delays may apply). U.S. Treasury checks deposited at an ESL ATM will be available on the next business day after the day of deposit. Accrual of dividends on No-Envelope ATM deposits will begin on the day you make the deposit. A maximum of two ATM deposits is allowed each calendar day.

Electronic Deposits:

Funds from electronic wire transfers will be made available on the business day we receive the deposit. ACH transactions will be made available on the business day ESL credits the transaction to your account. Accrual of dividends on electronic deposits will begin on the day we receive the deposit.

Mobile Deposits:

Generally, the first $200 or $1,000 (as described above) of your deposit will be available no later than the second business day after we receive the deposit (additional delays may apply). The Mobile Deposit Service does not recognize Special Checks and holds may apply. Accrual of dividends on deposits made through the Mobile Deposit Service will begin on the day we receive the deposit.

Definition of a Business Day:

For determining the availability of your deposit, every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit at a branch on a business day we are open during our business hours, we will consider that day to be the day of your deposit. However, if you make a deposit on a day we are closed or on a day we are open but after our business hours, we will consider that the deposit was made on the next business day we are open.

Drop Box Deposits:

If you make a deposit on a day that is not a business day or after the time posted on the drop box, we will consider that the deposit was made on the next business day we are open.

If your deposit is a check where the ESL Funds Availability Policy would normally be delayed, 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 this disclosure for the type of check that you deposited.