Check Hold Policy. The general policy of the Lafayette Federal Credit Union is to make funds from deposits to any Checking Account available on the business day the deposit is received. Electronic direct deposits
Check Hold Policy. The Credit Union’s general policy is to make funds from deposits to any Checking Account available on the first business day the deposit is received subject to the Credit Union’s Reservation of Right to Hold. A deposit will be considered received when made in person to an employee of the Credit Union. However, if the deposit is not made in person to an employee through a method such as Night Drop, Elevations ATM, Shared Branching, Remote or Mobile Deposit, or after close of business, the Credit Union will consider the deposit received on the next business day the Credit Union is open for business. When a deposit is made at an ATM not owned by the Credit Union the deposit will be considered received the second business day after the business day of deposit. For determining the availability of deposits, business days exclude Saturdays, Sundays, and Federal Holidays. Once the funds are available, a withdrawal may be made in cash or to pay items initiated by our member.
