Your Ability to Withdrawal Funds

Our policy is to delay the availability of funds from your cash and check deposits. During the delay you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written.

Determining the Availability of a Deposit

The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit on a day that we are not open, we will consider that deposit made on the next business day we are open.

The length of the delay varies depending on the type of deposit and is explained below.

If you make an ATM deposit before 3:00pm on a business day that we are opened, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 3:00pm or on a day that we are not open, we will consider that deposit was made on the next business day that we are open.

Same-Day Availability

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.

Next-Day Availability

Funds from the following deposits are available on the first (1st) business day after the day of your deposit:

• U.S. Treasury checks that are payable to you;
• Wire transfers; or
• Checks drawn on St. Edmonds Federal Savings Bank.

If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first (1st) business day after the day of your deposit:

• Cash;
• State and local government checks that are payable to you;
• Cashier's, certified, teller checks and travelers checks that are payable to you; or
• Federal Reserve Bank checks, Federal Home Loan Bank checks and postal money orders, if these items are payable to you.

If you do not make your deposit in person to one of our employees (for example: if you mail the deposit), funds from these products will be available on the second (2nd) business day after the day of your deposit.

Other Check Deposits

All Other Checks Except Next Day Items - The first $200 from a deposit of checks will be available on the first (1st) business day after the day of your deposit. The remaining funds will be available on the second (2nd) business day of your deposit.

For example, if you deposit a check of $700 on a Monday, $200 of the deposit is available on Tuesday; the remaining $500 is available on Wednesday.

Longer Delay May Apply

Funds you deposit by a check may be delayed for a longer period under the following circumstances:

• We believe a check you deposited will not be paid;
• You deposit checks totaling more than $5,000 on any one day;
• You redeposit a check that has been returned unpaid;
• You have overdrawn your account repeatedly in the last six months; or
• There is an emergency, such as failure of communication or computer equipment, a suspension of payments by another financial institution, a war or an emergency condition beyond our control.

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 then the fourth (4th) business day after the day of you deposit.

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposit to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of day’s total deposits of U.S. Postal Service Money Orders, Federal Reserve or Federal Home Loan Bank checks, cashier’s, certified, teller, travelers, and federal state and local government checks will be available on the first (1st) business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the ninth (9th) business day after the day of your deposit. If your deposit of these checks (other than a US Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second (2nd) day after the day of your deposit.

Funds from all other check deposits will be available on the ninth (9th) business day after the day of your deposit. We reserve the right to refuse second endorsed checks from deposit or cashing

Holds on the Funds (check cashing)

If we cash a check for you that is drawn on another bank, we may withhold the availability of the corresponding amount of funds that are already on your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

Holds on the Funds (other account)

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdraw immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other 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.

Deposits at Automatic Teller Machines

Funds from any deposit (cash or checks) made at automated teller machines (ATM’s) we do not own or operate will not be available until the fourth (4th) business day after the day of your deposit.

This rule does not apply to ATM’s that we own or operate. All ATM’s that we own or operate are identified as our machines.

Depositor's Liability

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 you deposits.