FUNDS AVAILABILITY

For determining the availability of member deposits, every day is a business day, except Saturday, Sunday and Federal holidays.  If a deposit is made Monday through Thursday before 4:00 PM and on Friday before 5:30 PM on a business day that FirstEnergy Choice Federal CU is open, FirstEnergy Choice Federal CU will consider that day to be the day of the deposit.

Same Day Availability – FirstEnergy Choice Federal CU affords same-day availability for cash deposits.  Funds received from an electronic wire transfer are available the same day they are received after receipt of the wire is verified through Vizo Financial Corporate CU.      

Delays May Apply – FirstEnergy Choice Federal CU may not make all funds that a member deposits by check available on the same day of deposit.  Depending on the type of check deposited, funds may not be available until the second business day after the day of deposit, but the first $225 of a member’s deposit will be available on the day the deposit is made.

Funds deposited by check may be delayed for a longer period of time if:

  • The checks total more than $5,525 on any one day

  • FirstEnergy Choice Federal CU believes a check deposited will not be paid

  • A member re-deposits a check that has been returned unpaid

  • A member has overdrawn their account repeatedly in the last six months

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

If FirstEnergy Choice Federal CU is not going to make all the funds from a member’s deposit available at that time, FirstEnergy Choice Federal CU will inform the member when the deposit is made.  FirstEnergy Choice Federal CU will tell the member when the funds will be available.  If a deposit is not made directly to one of FirstEnergy Choice Federal CU’s employees or if FirstEnergy Choice Federal CU decides to take this action after a member has left the premises, FirstEnergy Choice Federal CU will mail a notice to the member no later than the next business day after FirstEnergy Choice Federal CU receives the deposit.  If a member needs the funds from a deposit right away, the member should ask FirstEnergy Choice Federal CU when the funds will be available.  Generally, the funds will be available no later than the seventh business day after the date of deposit.

ATM Deposits – ATM deposits must be completed by 3:00 PM (EST) in order to be considered deposited on that day and will be available the next day.  Deposits at the ATM made after 3:00 PM (EST) may take up to 48 hours before they are available.   

New Accounts – When a member opens a new account, the following special rules will apply during the first thirty calendar days the account is open:

  • Funds from wire transfers into an account will be available on the next business day after the day FirstEnergy Choice Federal CU receives the transfer and verifies receipt in Vizo Financial Corporate FCU.

  • The first $5,525 from a U.S. Treasury check deposit will be available on the next business day after the day of the deposit.  The amount over $5,525 will be available on the fifth business day after the day of the deposit.

  • The first $5,525 from a state or local government, teller’s, cashier’s, certified and traveler’s check deposit made in person to FirstEnergy Choice Federal CU staff, will be available on the next business day after the day of a deposit if the check(s) are payable to the member.  However, if the deposit is not made in person to FirstEnergy Choice Federal CU staff, the first $5,525 will not be available until the second business day after the day of deposit.  The amount over $5,525 will not be available until the fifth business day after the day of deposit. 

  • All other check deposits will be available on the seventh business day after the day of deposit.