FLORIDA CUSTOMS FEDERAL CREDIT UNION
FUNDS AVAILABILITY POLICY

NOTICE: In accordance with 12 CFR 229, availability of Funds and Collection of Checks (Regulation CC), we need to inform you of our policy regarding your rights to draw funds against deposits you have mad to any transaction account at our institution. Transaction accounts are accounts that do not limit the number of types of withdrawals or transfers you may make. Our Funds Availability Policy is outlined below. Florida Customs Federal 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.

Our policy is to make funds from your deposits available to you on the same day we receive your deposit. At that time, you may withdraw the funds and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

The funds available date is determined by counting business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. Deposits can be made in-person and electronically. The availability of funds may differ depending on the manner of deposit. If you make a deposit before our “cutoff time” on a business day we are open, we will consider that day to be the day of your deposit for purposes of calculating when your funds will become available. However, if you make a deposit after the cutoff time, or on a day we are not open, we will consider the deposit was made on the next business day we are open. We will consider a deposit as being made on a business day if it is made in person to one of our employees. Our cutoff time is 4:30 pm EST. Deposits sent by mail are considered deposited on the business day it arrives at the credit union. In all cases, availability of any deposit assumes that a requested withdrawal will not overdraw the account.

AVAILABILITY FOR CERTAIN ITEMS. Funds from the deposit of the following items will be made available for withdrawal the business day after the day of deposit. However, we will usually make the following types of deposits available for withdrawal immediately if deposited in person to an employee and deposited into the named payee’s account:

  • Cash;
  • U.S. Treasury checks;
  • U.S. Postal Service Money Orders;
  • Federal Reserve Bank and Federal Home Loan Bank checks;
  • State and local government checks;
  • Checks drawn on our institution;
  • The first $275 from the aggregate of all other deposits made on any given day;
  • Electronic payments including a) an incoming wire transfer received by 4:00 pm EST b) an ACH credit when FCFCU has received both payment in collected funds and information on the account and the amount to be credited.

LONGER DELAYS MAY APPLY
In some cases, we will not make all of the funds that you deposit by check available to you on the same 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 deposit. However, the first $275 of your deposits will generally be available no later than the first business day following the day we receive your deposit. Under certain circumstances, these funds may not be available until the seventh business days after the day of deposit (ninth business day for new accounts). If we are not going to make all the funds from your deposit available at that time, we will inform you when the deposit is made; or soon after as reasonably practical. We will also 07/2025 tell you when the funds will be available. If a 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 on the next business day after we receive the deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Safeguard Exceptions: Funds deposited by check may be delayed for a longer period of time if:

  • we believe a check deposited will not be paid;
  • The deposited checks total more than $6,725 on any one day;
  • you re-deposit a check that has been returned unpaid;
  • you overdraw your account repeatedly within the previous six months;
  • there is an emergency, such as failure of communications or computer equipment.

We will notify you if your ability to withdraw funds is delayed by us for any of these reasons, and will tell you when the funds will be available. They 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 may apply during the first 30 days the account is open. Funds from electronic payments (wire transfer and ACH credits) to your account are available on the day we receive the deposit. Funds from deposits of cash and the first $6,725 of a day’s total deposits of U.S. Treasury checks, U.S. Postal money orders, Federal Reser Bank and Federal Home Loan Bank checks, state or local government checks, and checks drawn on FCFCU accounts are available no later than the first business day after the day of your deposit if the deposit meets certain conditions. The excess over $6,725 is available by the fifth business day after the day of your deposit. If your deposit of these checks (other than a 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 deposit. Funds from all other check deposits are generally available by the fifth business day after the day of your deposit. However, we may place longer holds on certain items for other reasons, such as large deposits (see Longer Delays May Apply above).

IMMEDIATE AVAILABILITY FOR MOST OTHER ITEMS. Our general availability policy for items not listed in the prior section is to make funds available to you immediately / on the first business day after the day of deposit. We generally make some portion of a day’s deposits available for withdrawal immediately. See the previous section for the types and amounts of deposits that are available immediately.

07/2025