For deposits in excess of $5,000, federal laws and regulations allow for exceptions to the availability of funds schedule. Exception holds may be placed on deposits over $5,000. Those holds may be applied to any deposit of checks (including official checks) to any and all
account(s) where the aggregate amount of the checks deposited on a business day exceeds $5,000.
The hold may be placed only on the amount deposited in excess of $5,000; thus, the first $5,000 must be made available consistent with the credit union's normal availability schedule.
When the large deposit exception is applied, the credit union may extend the time periods established under the availability schedule by a reasonable period of time. According to the applicable federal regulations, reasonable periods of time include an extension of up to five business days for checks.
Under certain circumstances, the credit union may be able to impose a longer extension. However, the credit union must be able to prove that the longer extension is reasonable.
In addition, the account agreement you received when you opened the account should explain the credit union’s funds availability policy and schedule applicable to the account.