This describes your ability to withdraw funds at Cincinnati Ohio Police
Federal Credit Union. 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.
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 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 2:00p.m. 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 2:00p.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.
Reservation of Right to Hold. In some cases, we will not make
all the funds that you deposit by check available to you on the same business
day that we receive your deposit. Depending on the type of check that you
deposit, funds may not be available until the fifth business day after the
day of your deposit. However, the first $100.00 of your deposit will be
available on the first 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 will need the funds
from the deposit right away, you should ask us when the funds will be
Holds on Other Funds. If we cash a check for you that are 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.
Longer Delays May Apply. We may delay your ability to withdraw
funds deposited by check into your account an additional number of days for
- 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 last six (6) months.
- There is an emergency, such as failure of communications or computer equipment.
Deposit at Nonproprietary ATMs. Funds from any deposits (cash or
checks) made at automated teller machines (ATMs) we do not own or operate
will not be available until the business day after the date of
your deposit. This rule does not apply at ATMs that we own or operate. All
ATMs that we own or operate are identified as our machines.