The Funds Availability Act was created by Congress to ensure that depositors of all financial institutions across the country will have timely access to their deposits. The Act has established guidelines which will regulate the maximum time that deposits to accounts can be held.


Our policy has always been to make funds immediately available to members, and only on occasion do we have to hold certain funds for deposit.


Granite Federal Credit Union maintains a general policy that the funds you deposit at the Credit Union are available on the same business day that we receive your deposit. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays and legal holidays. If you make a deposit on a day we are not open, we will consider that the deposit was made on the next business day we are open. A maximum daily withdrawal limit applies to ATM withdrawals. This ATM withdrawal limit is conditioned on availability of funds you deposit.


On a case-by-case basis and for several reasons, the Credit Union may receive a deposit for collection only or otherwise delay availability of deposits. If availability of your deposit is to be delayed, and you make your deposit directly to a Credit Union employee, you will be given a notice at the time of the deposit. This notice will tell you that a delay is being imposed and will tell you when the funds will be available. If your deposit is made at an unstaffed facility, such as an ATM or night depository, or if the Credit Union decides to delay availability after you have left the Credit Union, we will mail you notification of the delay by the close of business on the next business day after the date of deposit. If your deposit is made directly to a Credit Union employee without a decision being made about availability, you will be notified when a delay has been imposed and given the date your funds will be available.