What is an account hold?
We may hold a portion of the funds in your account for a variety of reasons as noted below:
- Minimum Share Balance Hold – We require that you maintain a minimum balance in your account.
- Delinquency Hold – You have a loan payment that is past due and we have a policy of holding funds equal to the value of the payment. These funds will be released when the payment is received and posted.
- Check Hold/ATM Deposit Hold/Shared Branch Deposit Hold - You deposited cash or a check that has not yet cleared. These deposits typically can come from a foreign ATM or a financial institution that is part of the Shared Branch network.
- ATM Unposted Pending Hold - You made a withdrawal at an ATM machine that does not belong to us. The withdrawal has not yet reached your credit union account.
- POS Unposted Pending Hold - You used your credit union debit card, ATM card or credit card to pre-authorize a charge against your draft account, savings account or credit card loan. A “hold” equal to the value of the transaction is placed on your account until the transaction is actually posted to your account. This can take as long as 3 to 5 days.
- Anytime Phone Unposted Pending Hold – You initiated a transaction through our audio response system that has not yet completed. Typically if you leave the system and come back you will see these transactions have completed and the hold has been released.
- Debit/ Credit Preauth holds – You have used your debit or credit card to authorize a transaction with a local merchant. The authorized amount is held until the final transaction is posted to your account.
- Certified Draft hold – You wrote a check from your draft account to a merchant. That check was certified by the credit union.
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What is a pledge?
Some of the funds in your account may have been used as collateral for a loan you have taken out us. These funds could be held in your savings, checking and certificate shares.
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Why are my balances different?
One is the total balance and the other is the available balance.
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When will my funds be available?
This is determined by the date of deposit and the length of the hold.
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Why was a hold placed on my deposit?
This is determined by what was deposited and where the deposit was made.
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Am I earning dividends on the amount that is on hold?
Yes, dividends are paid on the entire balance in the account if applicable.
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Will there be a fee charged if something tries to clear my account while the funds are on hold?
Yes, this is considered uncollected funds.
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Will I be able to make purchases with my debit card while funds are on hold?
No, this is considered uncollected funds.
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Can I make a transfer to make a loan payment, while my funds are on hold?
No, the funds will not be available to transfer.
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How can I get the hold removed?
Contact Member Services.
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