MOUNTAIN AMERICA FEDERAL CREDIT UNION
FUNDS AVAILABILITY POLICY
When Your Funds Are Available for Withdrawal
The Funds Availability Chart applies to funds deposited into a checking account. The schedule does not apply to certificate or savings account deposits. This policy establishes when funds from your deposits (of cash, electronic deposit, or negotiable instrument) are available for withdrawal. In the chart, the term “business day” includes every day, except Saturdays, Sundays, and federal or state holidays.
In some cases, we will not make all the deposited funds available on the same day as the day of the deposit. In these instances, we will notify you at the time of deposit and 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 delay availability of your funds after you have left the branch location, we will provide notice to you no later than one (1) business day after the delayed availability of funds.
Funds Availability schedule applies to funds deposited into a checking account. The schedule does not apply to deposits into certificate or savings accounts. The following chart is provided as a guideline only. Any reasonable cause to doubt collectability, emergency conditions, and repeat overdrafts may result in longer holds.
Foreign Checks. The Credit Union does not process checks drawn on financial institutions located outside the U.S. (foreign checks).
Funds Availability Chart
| Normal Availability | ||
|---|---|---|
| When the deposited item is… | And the deposit is… | Then the availability is… |
| Deposited in person to the named payee’s account Or Verified on-us items Or Preauthorized (direct deposit) | Same or next business day |
| Deposited into account other than named payee Or Not deposited in person by the payee | By the second business day |
| ATM deposits | Deposits at a Mountain America ATM | By the second business day |
| Deposits at a non-Mountain America ATM | By the fifth business day | |
| Check deposits over $5,525—Large deposits (excludes new accounts & on-us checks) | Check deposit amount over $5,525 | Subject to large deposit exception table |
| New Accounts—During the First 30 Calendar Days | ||
|---|---|---|
| When the deposited item is… | And the deposit is… | Then the availability is… |
| Deposited in person Or Verified on-us items Or Preauthorized (direct deposit) | By the same or next business day |
| ||
| Amounts up to $5,525 deposited in person and deposited into the named payee's account | By the next business day | |
| Amounts up to $5,525 not deposited in person and deposited into named payee’s account | By the second business day | |
| Amounts over $5,525 | By the ninth business day | |
| Local checks | Deposited in person to the named payee’s account Or Deposited into account other than named payee Or Not deposited in person by the payee | First $5,525 by the second business day; remainder available by the ninth business day |
| Large Deposit Check Exceptions (New Accounts & On-Us Checks Excluded) | ||
|---|---|---|
| When the deposited item is… | And the deposit is… | Then the availability is… |
| Deposit in person to the named payee’s account Or Verified on-us items Or Preauthorized (direct deposit) | First $5,525 of overall deposit available by same or next business day; remainder by the seventh business day |
| Deposited into account other than named payee Or Not deposited in person by the payee | First $225 of overall deposit available by next business day; next $5,300 of overall deposit available by second business day; remainder available by seventh business day | |
| Local checks | Deposited in person And Deposited into the named payee’s account | First $225 of overall deposit available by next business day; next $5,300 of overall deposit available by second business day; remainder available by seventh business day |
Remote Deposit Checks For Business
Once approved for the Remote Deposit Capture (RDC) program, you may use the services to deposit checks into your Credit Union account(s) subject to the terms of the RDC Agreement. Deposits made through the service normally post to your account one (1) hour after they are processed. Deposits made after 3:00 p.m. MT may not post until the next business day. Discretionary holds may occur on new accounts or based on Credit Union discretion up to seven (7) business days.
Mobile Deposit On Personal Accounts
For checks deposited through mobile deposit, some or all funds will generally be made available the second business day after the day of deposit, except in the case of a discretionary hold described herein. Discretionary holds may occur on new accounts or based on Credit Union discretion up to seven (7) business days.
