We do not place holds on all deposited items. Additionally, we do not place a hold on an item to inconvenience you. Holds are placed on items in order to ensure the credit union receives payment of the funds the items represent.
When an item is presented for deposit, the credit union does not immediately receive the funds from the paying institution. The check must be sent through several “clearing houses” until it reaches the paying institution. Once received, the paying institution will then remit the funds to our credit union which can take several days. However, we are bound by Federal Regulation CC when placing holds on a deposited item.