FUNDS AVAILABILITY DISCLOSURE

This disclosure describes your ability to withdraw funds at Greater Warren Community 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.

1. DETERMINING THE AVAILABILITY OF A DEPOSIT – The length of the delay is determined by counting the business days from the day of your deposit.  Everyday is a business day except Saturday, Sundays, and federal holidays.  If you make a deposit before 2:00pm on a business day that we are open, we will consider that to be the day of your deposit.  However, if you make a deposit after 2:00pm or on a day we are not open, we will consider that deposit was made on the next business day we are open.
   
   The length of the delay varies depending on the type of deposit and is explained below.
   
   
2. SAME-DAY AVAILABILITY – Funds from the following deposits are also available on the same business day we receive your deposit:
   
   

   • U.S. Treasury checks that are payable to you.
   • Wire Transfers.
   • Checks drawn on Greater Warren Community Federal Credit Union.

3. SAME-DAY AVAILABILITY FOR CERTAIN DEPOSITS MADE IN PERSON
   Funds from the following deposits are available on the same business day we receive your deposit if you make the deposit in person to one of our employees:
   
   

   • Cash.
   • State and local government checks that are payable to you.
   • Cashier's, certified, and teller's checks that are payable to you.
   • Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

   If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available on the second (2nd) business day after the day we receive your deposit.
   
   
4. AVAILABILITY OF OTHER CHECK DEPOSITS – The delay for other check deposits depends on whether the check is a local or a nonlocal check.  To see whether the check is a local or a nonlocal check, look at the routing number on the check:
   
   (The first group of numbers on a personal check and the second group of numbers on a business check)
   
   If the first four digits of the routing number are 0220, 0223, 0410, 0412, 0430, 0432, 0433, 0434, 0440, 0441, 0720, 0724, 2220, 2223, 2410, 2412, 2430, 2432, 2433, 2434, 2440, 2441, 2720, or 2724, then the check is a local check.  Otherwise, the check is a non-local check.  Some checks are marked “payable through” and have a four or nine digit number nearby.  For these checks, use the four-digit number (or the first four digits of the nine-digit number), not the routing number on the bottom of the check, to determine if these checks are local or non-local.  Our policy is to make funds from local and nonlocal checks available as follows:
   
   
   1. Local Checks.  The first $100 from a deposit of local checks will be available on the first (1st) business day after the day of your deposit.  The remaining funds will be available on the second (2nd) business after the day of your deposit.  For example, if you deposit a local check of $700 on a Monday, $100 of the deposit is available on Tuesday.  The remaining $600 is available is available on Wednesday.
      
      
   2. Nonlocal Checks.  The first $100 from a deposit of nonlocal checks will be available the first (1st) business day after the day of your deposit. The remaining funds will be available on the fifth (5th) business day after the day of your deposit.  For example, if you deposit a $700 nonlocal check on a Monday, $100 of the deposit is available on Tuesday.  The remaining $600 is available on Monday of the following week.
      
      
   3. Local and Nonlocal Checks.  If you deposit both categories of checks, $100 from the checks will be available on the first (1st) business day after the day of your deposit, not $100 from each category of check.
      
      
5. HOLDS ON OTHER FUNDS – If we cash a check for you that is 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.
   
   
6. LONGER DELAYS MAY APPLY – Funds you deposit by check may be delayed for a longer period under the following circumstances:
   
   

   • We believe a check you deposit will not be paid.
   • You deposit checks totaling more than $5000 on any one (1) day.
   • You deposit a check that has been return unpaid.
   • You have overdrawn you account repeatedly in the last six (6) months.
   • There is an emergency, such as failure of communications 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.  They will generally be available no later than the eleventh (11th) business day after the day of your deposit.
   
   
7. 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 deposit to your account will be available on the day we receive the deposit.  Funds from deposits of cash, wire transfers, and the first $5000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the first (1st) business day after the day of your deposit if the deposit meets certain conditions.  For example, the checks must be payable to you.  The excess over $5000 will be available on the ninth (9th) 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 $5000 will not be available until the second (2nd) business day after the day of your deposit.
   
   Funds from all other check deposits will be available on the (9th) business day after the day of your deposit.
   
   
8. DEPOSITS 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 fifth (5th) business day after the date of your deposit.  All ATMs that we own or operate are identified as our machines.