Funds Availability Policy

The credit union will allow immediate availability of the following funds:

  • Cash
  • Electronic Funds Transfer
  • On-Us Checks
  • U.S. Postal Money Orders
  • Cashier’s Checks
  • Certified Checks
  • U.S. Treasury Checks
  • Local Government Checks
  • State Checks

Our policy is to make funds from your deposits available to you on the day we receive your deposit. 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 the posted close of business on a business day that we are open, we will consider that day to be the day of your deposit. However, if you use our night deposit facility, we will consider that the deposit was made on the next business day we are open.

All checks deposited at Trans Texas are considered local checks; however, the Credit Union may place holds as allowed by the Expedited Funds Availability Act.

Exceptions to Availability

The credit union may apply a 2 business day hold on deposits. The hold may be extended by up to 5 business days. This means the maximum hold is 7 business days when one or more of the following exceptions apply:

  • Large deposits over $5,000.00
    (The exception hold will apply to amounts in excess of $5,000.00)
  • Emergency conditions
    (Such as: natural disasters, communications malfunctions, etc)
  • Re-deposited checks
  • New Accounts (less than 30 days old)
  • Account is repeatedly overdrawn
    (Account had a negative balance on 6 or more business days during the previous 6 months)
  • Reasonable cause to believe check is uncollectible
    (Examples: Post-dated or stale-dated checks, insurance checks, or any existence of facts that would cause a well-grounded belief in the mind of a reasonable
    person that the check is uncollectible.)

The first $200.00 of a held deposit will be made available the next business day following a deposit, except for new accounts (less than 30 days old), accounts repeatedly overdrawn, re-deposited checks, or reason to believe a check is uncollectible.

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:

  • Funds from cash, wire transfers and electronic direct deposits to your account will be available on the day we receive the deposit.
  • The first $5,000.00 of a day’s total deposits of cashier’s, certified, teller’s, travelers, and federal, state and local government checks will be available on the day of your deposit; funds in excess of $5,000.00 will be available on the ninth business day after the day of your deposit.
  • Funds from deposits of all other checks in excess of $5,000.00 will be available on the ninth business day after the day of your deposit.
  • If you use our night deposit facility, we will consider that the deposit was made on the next business day we are open.
 
 
 
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