IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

All funds in a “noninterest-bearing transaction account” are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules.

 The term “noninterest-bearing transaction account” includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend.  It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal account, money market deposit account and Interest on Lawyers Trust Account, even if share drafts may be drawn on the account.  For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.

YOUR ABILTIY TO WITHDRAW FUNDS

This policy statement applies all accounts

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 the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your depsit.

For determing the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.  If you make a deposit before closing 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 closing or on a day we are not open, we will consider that the deposit was make on the next business day we are open. 

If we cash a check for you that are drawn on another bank, we may withold 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.

LONGER DELAYS MAY APPLY

Case-by-case delays.  In some cases, we will not make all of the funds that you deposit by check available to you in 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 second business day after the day of your deposit.  The first $200 of you deposits, however may be available on the first business day.

If we are not going to make all of the funds from 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 afte we receive your deposit. 

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Safeguard exceptions

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 the $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the las 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 seventh day after the day of your deposit.