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Funds Availability Update

Change in Terms Affecting Your Topside FCU Membership and Account Agreement and Mobile Remote Deposit Services Agreement/Remote Deposit Capture Service Funds Availability

We have updated our Business and Consumer Membership and Account Agreements and Disclosures and our Mobile Remote Deposit Services Agreement as summarized below. As always, your Member Services team remains ready to assist! Please contact us with any questions, 540.663.2181, help@topsidefcu.org, by mail at Topside FCU, PO Box 519, Dahlgren, VA, 22448 or stop by any one of our four branches. Complete copies of Agreements and Disclosures are available upon request.

WHAT IS CHANGING?
Effective August 4, 2022, funds from deposits of checks made at an ATM will be available by the second business day after the date of your deposit. However, the first $225 of the deposit, as well as funds from checks drawn on the credit union (on-us checks) and deposited at an ATM located at one of our branch offices and funds from US Treasury checks that are deposited to the account of the named payee, will be available on the first business day following the day we receive your deposit. Checks deposited via Remote Deposit are subject to this same hold schedule. Every day is a business day, except Saturdays, Sundays, and federal holidays.

WHAT DOES THIS MEAN?
We will no longer offer immediate use of funds for checks deposited via ATM or Remote Deposit. For many years we have provided the benefit of immediate use of funds to our membership. Unfortunately, to mitigate potential loss due to fraud, we find ourselves required to make this change to protect the Credit Union membership.

WHAT HASN’T CHANGED?
For checks deposited in one of our Branches, our general 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. In some cases, we will not make all of the funds that you deposit by check in a Branch available to you on the same business day that we receive your deposit. Funds may not be available until the second business day after the day of your deposit. However, the first $225 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of the funds from your in-branch deposit available on the same 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 next business day after 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.

Occasionally, 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.
  • You deposit checks totaling more than $5,525.00 on any one (1) day.
  • You redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six (6) months.
  • 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.