YOUR AVAILABILITY TO WITHDRAW FUNDS AT THE IBM METRO EMPLOYEES FCU

The credit union's policy is generally to make funds available to pay checks presented against your account, for cash withdrawal, cashing of checks over the counter and for other purposes on the day we receive your deposit. The availability of some funds may be delayed for a longer period for some checks, depending upon the type of check(s) you have deposited, as discussed below. During that delay, you may not withdraw the funds in cash, and we will not use the funds to pay for checks that you have written.

The length of the delay is counted in business days from the day of your deposit. If you make a deposit before 3:00 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 3:00 p.m. or on a day that we are not open, we will consider that the deposit was made on the next business day we are open.

If you make the deposit in person to one of our employees, funds from the deposit that are available immediately include:

• U.S. Treasury Checks that are payable to you
  
  
• Wire transfers, including preauthorized credits such as Social Security Benefits and payroll payments
  
  
• Checks drawn on the IBM Metro Employees Federal Credit Union
• Travelers Checks
  
  
• Cash
  
  
• State and local government checks that are payable to you individually.
  
  
• Cashier, certified and teller checks that are payable to you
  
  
• Federal Reserve Bank checks, Federal Home Loan checks, and postal money orders, if these items are payable to you

The delay for other check deposits depends on whether the check is a local or non-local check. To see where a check is local or non-local, look at the routing number on the check. If the first two digits of the routing number on the check are 02 or 22, then the check is a local check. Our policy is to make funds from these checks available as follows:

1. Local Personal Checks and other checks over $1000 (those not determined to be immediate): The first $100 from a deposit of local checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.
2. Non-local personal checks and other checks (those determined not to be immediate): The first $100 from a deposit of non-local checks will be available on the first business day after the day of deposit. The remaining funds will be available on the fifth business day after the day of your deposit.
3. If you deposit both categories of checks, $100 from the checks (those not determined to be immediate): The first $100 from a deposit of local checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.
4. Non-local personal checks and other checks (those determined not to be immediate): The first $100 from a deposit of non-local checks will be available on the first business day after the day of deposit. The remaining funds will be available on the fifth business day after the day of your deposit.
5. If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of checks.
6. There is a 10-business day hold on all double endorsed checks. Doubly endorsed government checks will not be accepted.

Funds you deposit may be delayed for a longer period under the following circumstances:

• We believe the check you deposit will not be paid
• You deposit checks totaling more than $5000 on any one day
• You redeposit a check that has been returned unpaid
• You have overdrawn your account repeatedly in the last 6 months
• There is an emergency such as failure of communications or other 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.

If a check or any other item that is returned at any time, or if any wire or other automated transfer of funds to your account is reversed for any reason, we will charge your account for the amount plus a service charge. If the balance in your account is not sufficient to reimburse the credit union for the entire amount, you will be obligated to pay the difference to the credit union.