Funds Availability Policy
This disclosure describes your ability to withdraw funds at Ascentra Credit Union. It only applies to the availability of funds in transaction accounts. The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts 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.
- GENERAL POLICY. Our policy is to make funds from your cash and check deposits available to you on the same business day that 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 the close of business 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 our cutoff hour or on a day we are not open, we will consider
that the deposit was made on the next business day we are open. For all deposits you will be receiving provisional credit and have the ability to withdraw in the time frames noted above. Ascentra does not guarantee the validity of the item when
giving provisional credit. You will be responsible for any returned item, including any return item fees.
- 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:
• We believe a check you deposit will not be paid.
• 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.
- DEPOSITS AT ATMs. On deposits made at ATMs, you may withdraw up to $300.00 of the deposited amount the day of deposit. Deposited amounts in excess of $300.00 will generally be available on the second business day after the day of
- DEPOSITS VIA MOBILE DEPOSIT. Items that meet the daily cut-off time of 3:00 pm business days and are approved will be made available at approximately 5:00 pm CST on the day of deposit. Members will receive notification of any deposit that is NOT accepted.
- SPECIAL RULES FOR NEW ACCOUNTS. If you are a new member, the following special rules may apply during the first 30 days your account is open:
- The first $5,525 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,525 will be available on the ninth business day after the day of your deposit.
- Funds from wire transfers into your account will be available on the first business day after the day we receive the transfer.
- Funds from deposits of cash and the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, Traveler’s, and 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 $5,525 will be available on the ninth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, the first $5,525 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.
Fixed Rate Mortgage10 & Done (10 Year Fixed)4.75View Mortgage Loans%
Vehicle LoansNew & Used Auto as Low as2.50View Vehicle Loans% APR
SavingsBase Share Savings Starting at0.05View Savings Accounts% APY
Credit CardsNo Balance Transfer Fee. 6-Mo. Intro Balance Transfer2.99View Credit Cards% APR
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