We do business in accordance
with the Federal Fair Housing
Law and the Equal Credit
Opportunity Act.
Your Savings Federally insured to at least $250,000
and backed by the National Credit Union
Administration, a U.S. Government Agency.
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Disclosures
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Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, also we will use the funds to pay checks that you have written and for ATM and Debit transactions you have made.
Please remember that even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
Understanding Your Account Balance. Your share draft (checking) account has two kinds of balances: the actual balance and the available balance. Your actual balance reflects the full amount of all deposits to your account as well as payment transactions that have been posted to your account. It does not reflect checks you have written and are still outstanding or transactions that have been authorized but are still pending. Your available balance is the amount of money in your account that is available for you to use. Your available balance is your actual balance less: (1) holds placed on deposits: (2) holds on debit card or other transactions that have been authorized but are not yet posted; and (3) {any other holds, such as holds related to pledges of account funds and minimum balance requirements or to comply with court orders}. We use your available balance to determine whether there are sufficient funds in your account to pay items, including checks and drafts, as well as ACH, debit card and other electronic transactions. Pending transactions and holds placed on your account may reduce your available balance and may cause your account to become overdrawn regardless of your actual balance. You should assume that any item which would overdraw your account to become overdrawn regardless of your actual balance. You should assume that any item which would overdraw your account based on your available balance may create an overdraft. You may check your available balance online at www.healthsystemscu.com, at an ATM, by visiting a credit union branch or by calling us at 865-545-8165.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If your deposit is received before closing on a business day we will consider that day to be the day of deposit. When a deposit is received on a day we are not open, the next business day will be the day of deposit.
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in one of your accounts. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
Funds Availability Disclosure (Reg CC)
Determining the Availability of a Depost
If we accept, for deposit, a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in the account to which the deposit is made. The funds in the account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $200 of your deposits will be available on the first business day after the day of your deposit.
If we are not going to make all of the funds from your deposit available on the day of your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. We are under no obligation to pay any items you have authorized against funds that are not yet available. Such items will be treated as any other overdraft or non-sufficient funds items.
If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Longer Delays May Apply
·You have overdrawn your account repeatedly in the last six (6) months
·You deposit checks totaling more than $5,000 on any one day
·You are redepositing a check that has been returned unpaid
·We believe a check you deposit will not be paid
·You are depositing to a new account
·There is an emergency, such as failure of communications or 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. They will generally be available no later than the eleventh business day after the day of your deposit.
How Transactions are Posted to Your Account. Basically, there are two types of transactions that affect your account: credits (deposits of money into your account) and debits (payments out of your account). It is important to understand how each is applied to your account so that your know how much money you have and how much is available to you at any given time. This section explains generally how and when we post transactions to your account.
Credits. Deposits are generally added to your account when we receive them. However, in some cases when you deposit a check, the full amount of the deposit may not be available to you at the time of deposit.
Debits. There are several types of debit transactions. Common debit transactions are generally described below. Keep in mind that there are many ways transactions are presented for payment by merchants, and we are not necessarily in control of when transactions are received.
·Checks. When you write a check, it is processed through the Federal Reserve system. We receive data files of cashed checks from the Federal Reserve each day. The checks drawn on your account are compiled from these data files and paid each day. We process payments in the order contained in the data file.
·ACH Payments. We receive data files every day from the Federal Reserve with Automated Clearing House (ACH) transactions. These include, for example, automatic bill payments you have authorized. ACH transactions, for your accounts, are posted throughout the day in order of receipt.
·PIN-Based Debit Card Purchase Transactions. These are purchase transactions using your debit card for which a merchant may require you to enter your personal identification number (PIN) at the time of sale. They are processed through a PIN debit network. These transactions are similar to ATM withdrawal transactions because the money is usually deducted from your account immediately at the time of the transaction. However, depending on the merchant, a PIN-based transaction may not be immediately presented for payment.
·Signature-Based Debit Card Purchase Transactions. These are purchase transactions using your debit card that are processed through a signature-based network. Rather than entering a PIN, you typically sign for the purchase; however, merchants may not require your signature for certain transactions. Merchants may seek authorization for these types of transactions. The authorization request places a hold on funds in your account when the authorization is completed. The “authorization hold” will reduce your available balance by the amount authorized but will not affect your actual balance. The transaction is subsequently processed by the merchant and submitted to us for payment. This can happen hours or sometimes days after the transaction, depending on the merchant and its payment processor. These payment requests are received daily and are posted to your account when they are received.
The amount of an authorization hold may differ from the actual payment because the final transaction amount may not yet be known to the merchant when you present your card for payment. For example, if you use your debit card at a restaurant, a hold will be placed in an amount equal to the bill presented to you; but when the transaction posts, it will include any tip that you may have added to  the bill. This may also be the case where you present your debit card for payment at gas stations, hotels and certain other retail establishments. We cannot control how much a merchant asks us to authorize, or when a merchant submits a transaction for payment.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
 
This is a general description of certain types of transactions. These practices may change, and we reserve the right to pay items in any order we choose as permitted by law.
If you are a new member, the following special rules apply during the first thirty (30) days your account is open:
Funds from electronic direct deposits and wire transfers to your account will be available on the day we receive the deposit. Funds from deposits of cash, and the first $5,000 of a day’s total deposit of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the first business day after the day of your deposit, if the deposit meets certain conditions. For example, the checks must be made payable to you. The excess over $5,000 will not be available until the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
Special Rules For New Accounts