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Funds Availability Policy

Ohio Catholic Federal Credit Union Funds Availability Policy

Your Ability to Withdraw Funds:

Ohio Catholic Federal Credit Union (OCFCU) offers same day or next day availability for most funds deposited with us. OCFCU funds availability policy follows Regulation CC guidelines. Regulation CC does not apply to funds deposited by check to non-transaction accounts (i.e.; Savings, Misc., Certificates and Money Market accounts) nor to foreign checks. If a hold is necessary in any of these cases, we reserve the right to place a hold until funds are collected.

The day funds become available is determined by counting business days from the day of deposit. Every day is a business day except Saturdays, Sundays, and federal holidays.


  1. Disclosure: OCFCU conscientiously informs members of our funds availability policy by providing members with:
    1. Disclosures Upon Request: OCFCU will provide a copy of our funds availability policy to any member who requests a copy.
    2. Initial Disclosures: Before a member opens a new account, OCFCU will provide the member with written disclosures that clearly and conspicuously explain our funds availability policy.
    3. Branch Notices: OCFCU will post our funds availability policy at a conspicuous place at every location where deposits are accepted.
    4. Internet Disclosure: OCFCU will post our funds availability on our website.
    5. Change in Policy Notice: If OCFCU ever changes our funds availability policy, we will notify all members 30 days prior if the change has a negative impact. If the changes affect all members availability positively, notification will be within 30 days after the change.
  2. Same Day Availability: OCFCU affords same day availability for cash deposits (made in person) and electronic funds transfers.
  3. Next Day Availability: OCFCU affords next day availability for the following funds deposited in person to payee’s account at teller stations.
    1. Government Checks: For example, U.S. Treasury checks, U.S. Postal Service money orders, checks drawn by the State or an agency of the State or a branch of local government.
    2. Depository Check: Travelers Cheques, cashier’s checks, certified checks, and money orders.
    3. Check on Us: Checks drawn against accounts at OCFCU.
    4. $200 of Aggregate Deposits: The first $200 from a deposit in which a hold has been placed.
  4. Second Business Day Availability:
    1. All other items could be delayed until the 2nd business day following the date of deposit (unless an exception hold applies).
    2. If the deposit was NOT made in person, such as through one of our ATMs (including cash), Mobile Remote Deposit Capture, Mail or Night Drop, the funds will generally be made available no later than the 2nd business day after the deposit was made (unless an exception hold applies).
    3. Notice: If a hold is placed, the member will receive notice at the time of deposit if made in person. If the deposit is not made in person at a teller station, OCFCU will attempt to notify the member by the quickest means possible of the hold.
  5. Exception Holds (Seventh Day Availability): OCFCU may place a specific exception hold where the transaction involves:
      1. Specific Exceptions:
          1. Reason to Doubt Collectability:
            1. Post dated or Stale dated checks (over six months old) if we choose to accept these items.
            2. Improper endorsement or alteration.
            3. Receipt of confidential information from authorities.
            4. OCFCU has received a notice of dishonor from the financial institution against which the check is drawn.
            5. The check has an invalid routing and/or account number.
          2. Repeated Overdrafts: Accounts overdrawn more than 6 days or overdrawn by $5,000 for two days in the last 6 months. An account will retain its ‘repeated overdraft’ status for 6 months from the last overdraft.
          3. New Accounts: An account is considered new for the first 30 days. Holds for new accounts are 9 days.
          4. Deposits Exceeding $5,000: OCFCU may apply this exception to aggregate deposits in multiple accounts that exceed $5,000 in one day.
          5. Re-deposited Items: Items previously returned by the paying institution for non-technical reasons.
          6. Emergency conditions:Conditions such as war, earthquake, fire, flood, power or equipment failure, suspension of payments from another financial institution, or any other emergency.
      2. Notice: If OCFCU decides to impose an exception hold, we will deliver proper notice to the member depositor at the time of the deposit. If the deposit is not made in person at a teller station, OCFCU will attempt to notify the member by the quickest means possible. The notice will include:
        1. Statement that OCFCU is holding the funds
        2. Reason for the hold
        3. Member’s name and account number
        4. Date and amount of deposit
        5. Date the funds will be available
  6. Hold on Other Funds: If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay availability to withdraw a corresponding amount of funds on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the day the deposited item would have been available.
  7. ATMs We Do Not Own: Funds deposited at ATMs we do not own may not be available until the 5th day following the day of deposit. This includes cash.
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