AGCU is committed to serving your financial needs while ensuring the safety and reliability of your funds. To better protect your account and align with industry best practices, we’re updating our Funds Availability Policy for check deposits made at ATMs.  Checks deposited at ATMs will be subject to a standard 2-business-day hold. However, Treasury and cashier’s checks will be available the next business day, per federal regulations.

We understand this policy change may raise questions, so we’ve outlined key details below to help you understand why this adjustment is necessary and how it benefits you.

What Is a Funds Availability Hold?

When you deposit a check at an ATM, the funds are credited to your account immediately; however, this does not mean they are immediately available for withdrawal or use. A funds availability hold delays access to the deposited amount until the check can be reviewed and validated.

Why Are Funds Availability Holds Necessary?

Placing a temporary hold on check deposits serves several important purposes:

• Fraud Prevention: Holds allow us time to validate the authenticity of a check, helping to protect you from fraud or losses due to counterfeit or invalid checks.
• Avoiding Returned Checks: If a check you deposit is returned unpaid, the amount is deducted from your account. A hold period reduces the risk of fees or negative balances caused by returned checks.
• Mitigating Losses: This practice is a standard measure in the financial industry to ensure responsible account management and to safeguard members’ funds.

When Will My Funds Be Available?

Here’s a breakdown of our updated policy:

• Standard Check Deposits: Funds from checks deposited at AGCU ATMs will generally be available on the second business day after the deposit.
• Treasury and Cashier’s Checks: These deposits will be available on the next business day, in compliance with federal regulations.
• Partial Availability: A portion of the deposit, at least $225, may be available immediately or on the first business day after the deposit.

How Can I Access My Available Balance?

To check your available balance at any time:

• Use our Online Banking  platform or Mobile Banking App for real-time updates.
• Complete a “Balance Inquiry” at an ATM. 
• Contact our Member Care team for assistance. 

What If I Need Funds Sooner?

We understand that unexpected financial needs can arise. If you need access to funds before the hold period ends, please reach out to a Member Care representative. In some cases, we may be able to expedite the availability of funds.

How to Manage Funds for Better Access

Here are a few tips to help you plan deposits and access funds more efficiently:

1. Direct Deposit: Electronic deposits are often available immediately. Consider setting up direct deposit for regular payments like paychecks or Social Security benefits.
2. Mobile Deposit: Using AGCU’s mobile app, you can deposit checks conveniently from your phone and may see funds released faster than ATM deposits.
3. Branch Deposits: Depositing checks in person at an AGCU branch allows for immediate processing and may provide quicker availability.
4. Overdraft Protection: Linking a savings account or overdraft line of credit can ensure you have funds available if you need them.

AGCU is committed to providing secure, accessible, and faith-centered financial solutions. Our Funds Availability Policy ensures your deposits are handled responsibly, protecting you and your account from potential risks.

For more details about our updated policy, feel free to review your account documents or speak with an AGCU representative.

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Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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