Bragg Mutual FCU
Bragg Mutual FCU

Deposits & Holds

YOUR AVAILABILITY TO WITHDRAW FUNDS NOTICE

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 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 PM Eastern Time on a business day we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 5:00 PM Eastern Time or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply. See Details Below…

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 on any given one day.
• You 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 communications or computer equipment.

We will notify you if we delay your availability to withdraw funds for any of these reasons, and we will inform you when the funds become available. They will generally be available no later than the 5th business day after the date of your deposit.

Special Rules For New Accounts

If you are a new member, the following rules apply during the first 30 days your account is open. Funds from electronic direct deposits into 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 excess over $5,000 will be available on the 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 $5,000 will not be available until the 2nd business day after the day of your of your deposit. Funds from all other check deposits will
be available on the 10th business day after the day of your deposit.

ATM Deposits
Any cash or check deposits made in the ATM will be on automatic two business day hold.

DropBox Deposits
A cash and check deposits made after business hours through the dropbox will be posted on the next business day. Check holds may still apply depending on the account being deposited.

It’s Better Banking for Everyone.

PHONE (910) 222-1500