FUNDS AVAILABILITY POLICY  

Your Availability To Withdraw Funds 

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day 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 5:00 p.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 5:00 p.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. Remember, even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned unpaid and any other problems involving your deposit. 

Longer Delays May Apply

In some cases, we may not make all of the funds that you deposit by check available to you by the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the seventh business day after the day of your deposit. The first $100.00 of your deposits, however, may be available on the first business day. If we are not going to make all of the funds from your deposit available by the first 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 first business day after we receive your deposit.   If you need the funds from a deposit right away, you should ask us when the funds will be available. In addition, 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 $5,000.00 on any one day.
  • You/we redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency such as failure of computer or communications 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 business day after the day of your deposit. 

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first thirty (30) days your account is open. Funds from electronic direct deposits to your account may not be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 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 business day after the day of your deposit if the deposits meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the ninth 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 $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available by the ninth business day after the day of your deposit unless other exceptions listed in the Longer Delays May Apply section above also apply.

Automated Teller Machines And Funds Availability

SageLink Credit Union owns and operates many of its own automated teller machines. These are clearly identified as SageLink Credit Union machines and can be found at each branch location.  We will keep you informed of changes and additions to these locations. All deposits made into an automated teller machine after 12:00 noon on weekdays and anytime on Saturdays, Sundays or holidays will be considered received the next business day we are open. Our policy is to allow availability of funds deposited into SageLink Credit Union automated teller machines by the next business day after we receive your deposit. If you deposit funds into your SageLink Credit Union accounts through another automated teller machine, one not owned and operated by SageLink Credit Union, whether cash or check, the funds may not be available for up to five business days following the day of the deposit. However, all automated teller machine deposits are subject to the same conditions and exceptions referred to in the Longer Delays May Apply and Special Rules for New Accounts sections of this disclosure. 

Assistance

As always, should you have any questions or need assistance with this or any other policy, please contact our Member Service Department at (800) 292-2196.