Effective June 1, 2017
|Membership Share||$5.00 Par Value|
|Return Statement Fee||$2.50|
|Share Savings Account Excessive Withdrawals||$2.00|
|Photocopy||$0.20/Page for 2 or more pages|
|Fax||$1.00 first page; $0.50 thereafter|
|Notary Service||No Charge for Members|
|Credit Union Checks Paid to Third Party||$3.00/Check|
|Courtesy Pay Fee||$25.00|
|Copy of Drafts - Checks||$2.00 after first 2 per month|
|Closing Costs - Involuntary||$10.00|
|Copy of Statement History||$3.00/Copy|
|Return Deposits (Chargeback Fee)||$20.00|
|Lost or Stolen Debit Card - Hotcard Status||$15.00|
|Debit Card Replacement||$5.00|
|Assistance in Balancing Statement||$10.00|
- Outgoing Wires
- Incoming Wires
|Check by phone fee||$5.00|
|Early account closing fee (if closed within 90 days)||$5.00|
|Dormant accounts (1 year without activity)||$2.50/Month|
|Cashing On-Us Checks to Nonmembers||1% or $3.00 minimum|
|Reactivate Bill Payment Service||$15.00|
This disclosure describes your ability to withdraw funds at Lufkin Federal Credit Union. It only applies to the availability of funds in transaction accounts. The credit union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy. Please ask us if you have a question about which accounts are affected by this policy.
General Policy. Our 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. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 4:30 p.m. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 4:30 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Reservation of Right to Hold. In some cases, we will not make all of the funds that you deposit by check available to you on the same business day that we receive your deposit. Depending on the same business day that we receive your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $200.00 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 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 in 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 would be available.
Hold on Other Funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. 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 your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. He funds in the other account would then no be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
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 that $5,000.00 on any one day.
You deposit 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 eleventh business day after the day of your deposit.
Special Rules for New Accounts. If you are a new member, the following special rules will apply during the first thirty (30) days your account is open.
Funds from electronic direct deposits to your account will be available on the day we received the deposit. Funds from deposits of cash, wire transfers, and the first $5,000.00 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 next business day after the day of our deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000.00 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.