Funds Availability

Our general policy is to try to make funds from your deposit available to you the same business day that we receive them. You can withdraw the available funds in cash and they can be used to pay checks you have drawn on Greater Kentucky Credit Union.

Business Day

Our business days are Monday through Friday, 9:00 a.m. to 5:00 p.m. (Eastern Standard Time). Credit Union holidays are not included. For electronic transactions (ACH/wires) the business day concludes at 1:00 p.m. (EST).

Delays and Holds

In some instances, we may not be able to make all funds that you deposit by check available to you on the same business day. If corresponding funds are in your account (excluding funds in the checking account and IRA) funds will be available immediately. We do not place holds on U.S. Treasury/State/Government checks, or computer generated payroll checks for nationally known companies. We may have to place holds due to the type of check being deposited, however the first $100.00 of your deposit will be available to you the next business day.

Checks with local routing numbers starting with 040-0437 or 242 will have at least a 2-business day hold.
Non-local checks with any other routing number will have at least a 4-business day hold.

Funds may be delayed longer if:
Unfamiliar check(s) drawn on non-local and local financial institution.
Excessive overdrafts and/or returns on an account.
Amount of time the account has been opened.
There is any reason to believe that the item may not be paid.

Notice

We will notify you if there will be a delay in the availability of your funds. We will also inform you of when the funds will be available and under what conditions. If you need immediate access to your funds, always ask when the funds will be available to you.

If a hold is placed on funds deposited, normally the notice is given to you at the time you make your deposit. We also inform you of the number of days held, and when the funds will be available. If you are not present or we decide to take this action after you leave, we will mail out notice the following business day after the hold was placed to your current address last provided to us by you. If your address changes, written notification is required.

Special Rules for New Accounts

For new members, the following special rules will apply for the first 30 days your account is opened.

The first $5,000.00 of a U.S. Treasury Check will be available the first business day we receive your deposit. Funds in excess of this $5,000.00 will be available on the ninth business day following your deposit.
Funds from deposits of cash and the first $5,000.00 of a day’s total deposits of cashier’s checks, certified checks, teller checks, traveler checks, state and local government checks will be made available on the same business day we receive your deposit if the deposited items meet certain conditions. For example, the checks must be made out to you. Any amount exceeding $5,000.00 will be available on the ninth business day following your deposit.
Funds from all other deposits will be available on the ninth business day following your deposit.

Other Terms

We are not responsible for any item being returned due to a hold being placed on a deposit. We have the right to change or amend this policy in whole or in part upon reasonable notice to the membership in compliance with all federal and state regulations.

For more information on funds availability, please call our office at 859-231-9300 or 800-432-7393 during regular business hours.

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