Funds Availability


It is the policy of HEFCU to fully comply with all provisions of the EFAA as implemented by Regulation CC and to exercise ordinary care and act in good faith in its compliance. The requirements of Regulation CC do not affect the credit union’s liability as a paying financial institution under the Uniform Commercial Code, or other law.

Certain institutional and governmental checks will be given immediate availability to members. HEFCU will delay the availability of deposited funds until the second business day after deposit. In certain circumstances, the credit union may extend the hold period an additional five business days.


In all cases, the following types of deposits to transaction accounts will receive next-day availability:

  • Cash (see exceptions below)
  • Electronic payments (wire transfers, automated clearinghouse credits, etc)
  • US Treasury checks
  • US Postal Service money orders
  • Federal Reserve and Federal Home Loan Bank checks
  • Checks drawn by a state or unit of local government
  • Cashier’s, certified, and teller’s checks (subject to verification)
  • On-us checks
  • Checks drawn on member healthcare facilities


Exception holds may be imposed in one or more of the following situations:

  • There is a specific reason the credit union feels the check is uncollectible.
  • Check deposits total more than $5,000 on any one day. (Delayed availability may only be applied to the amount over $4,900.)
  • A previously returned check is redeposited.
  • The account has had frequent overdrafts during the last six months.
  • The account is less than 30 days old (defined as a “new account”).
  • An emergency situation exists such as a communications or computer failure.


ATM DEPOSITS: All deposits to HEFCU owned and foreign ATMs are subject to a delay on availability of funds. Since the nature of the incoming deposit cannot be verified, a minimum hold of five (5) business days will be placed after the date of deposit; this includes cash deposits. Deposits of more than $5,000 are subject to longer holds.

NEW ACCOUNTS: For the purpose of this policy and as defined by Regulation CC, a new account is a member’s transaction account that has been in existence with this credit union for less than 30 days. The following conditions apply during the first 30 days to transaction accounts that meet this definition:

  • Funds from deposits of cash and electronic payments will be made available on the day we receive deposit.
  • Funds from deposits through 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 deposit. The excess over $5,000 will be made available on the seventh business day after the day of deposit.
  • Funds from all other check deposits will be available on the ninth day after the day of deposit.


The credit union will begin accruing dividends on dividend-bearing transaction accounts on the business day it receives credit for the deposited funds.