About STCU
What's a credit union?
STCU's story
Financial strength
People in charge

Get involved
Be an STCU member
Work for STCU
Be a business partner

Power of cooperation
Member classifieds
Community involvement

News and events
Newsroom
Events calendar
STCU deals
STCU Member News
We're on Twitter

Our promises
Our privacy pledge
Your member rights

Funds Availability

STCU Disclosures

This policy disclosure describes your ability to withdraw funds at Spokane Teachers Credit Union. It only applies to the availability of funds in "transaction accounts" subject to Regulation CC. Generally, transaction accounts are accounts that do not limit the number or types of withdrawals or transfers that may be made from the account. The credit union reserves the right to delay the availability of funds deposited to accounts not governed by Regulation CC 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 disclosure.

1. General Policy.

Our policy is to make funds available from deposits made at our branches, in person or by mail, on the first business day that we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. For deposits at automated teller machines (ATMs), we will not make the funds available on the first business day we receive that deposit, so that we may verify the accuracy of the deposit. Once funds 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 5:30 p.m. on Monday through Thursday or 6:30 p.m. on Fridays that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after the cutoff hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

2. Reservation of Right to Hold.

In some cases, we will not make all of the funds that you deposit by check available to you on the first business day that we receive your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $200.00 of your deposit will be available on the first business day. If we are not going to make all of the funds from your deposit available on 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 day after we receive your deposit. If you will need funds from a deposit right away, you should ask us when the funds will be available.

3. 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.

4. Longer Delays May Apply.

We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

1. We believe a check you deposit will not be paid.
2. You deposit checks totaling more than $5,000 on any one day.
3. You deposit a check that has been returned unpaid.
4. You have overdrawn your account repeatedly in the last six (6) months.
5. 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 seventh business day after the day of your deposit.

5. Deposits at Automated Teller Machines (ATMs).

Deposits of cash or checks at any ATM will always be held, without notice, for sufficient time for us to verify actual deposited funds. The availability of such funds depends on whether we own the ATM. Also, check deposits at ATMs will be subject to the conditions set forth in Section 2.

1. STCU ATMs. The first $200 from a deposit of cash or checks will be available on the same day we receive your deposit. The remaining funds will not be available until the second business day after the day of your deposit. For example, if you deposit a local check of $500 on a Monday, $200 of the deposit is available on Monday. The remaining $300 will be available on Wednesday.
2. Non-STCU ATMs. The first $200 from a deposit of cash or checks will be available on the same day we receive your deposit. The remaining funds will not be available until the fifth business day after the day of your deposit.

6. 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 deposits to your account will 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 deposit 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 on the ninth business day after the day of your deposit.

7. Foreign Checks.

Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which it is drawn.