Funds Availability

According to the “Funds Availability Policy”, during a hold period, you may not withdraw held funds and we will not use the held funds to clear any debit transactions on your account.

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Our policy is to make funds from your check deposits available to you immediately.  Electronic direct deposits will be available on the day we receive the deposit.  Cash, wire transfers, and some check deposits will also be available immediately.  Once the funds are available, you can withdraw them in cash, and we will use the funds to paychecks that you have written.

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Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

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SEI Credit Union ATMs do not accept ATM deposits.  If you choose to deposit to another financial institution’s ATM, there is a hold placed on the deposit up to three business days, whether it is a check or cash.

Longer delays may apply.

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

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• If evidence suggests a forgery or fraud, or if a transaction involves a reasonable belief that the check is uncollectible.

• You redeposit a check that has been returned unpaid.

• You have overdrawn your account repeatedly in the last six months.

• You have been a member for less than 90 days.

• There is an emergency, such as failure of computer or communications equipment.

• At the discretion of the credit union employee or management.

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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 fifth business day after the day of your deposit.  You will be notified of any further delay.