Disclosures

Funds Availability Policy

In compliance with the Regulation “C” and the Expedited Funds Availability Act, the Chicago Post Office Employees Credit Union adopts the following “Funds Availability” Policy.

A. The following items are available immediately upon deposit

Funds from electronic (ACH) deposits

B. Next Day Availability Items shall include:

Treasury Checks
United States Postal Service money orders
Federal Reserve Bank or Federal Home Loan Bank checks
State or local Government checks
Cashiers, certified or tellers’ checks
Checks drawn on the Chicago Post Office Employees Credit Union
The lesser of $100 of the aggregate deposited on any one banking day to all accounts of the member by check other than the above types of items.

C. Check “holds” will be placed on items not listed above according to the following schedule.

A two-business-day “hold” will be placed on all local checks
Non-local checks will be placed on “hold” for five business days
Items deposited in a non-proprietary ATM will be treated as Non-local
Longer delays may be placed on items deposited for the following reasons:
- We have reason to believe the item will not be paid
  - We have been notified that the item will be dishonored
  - The check is payable to two parties and the same person appears to have endorsed for both names
  - The check deposited was written more than six months ago
  - We have confidential information that the member is engaged in check kiting
- Deposits in excess of $5,000 on one day
- A check which was previously returned is re-deposited
- The member has overdrawn their account repeatedly in the past six months (accounts has been overdrawn six or more days in the past six months)
- The deposit is made to a new account.

D. Any check - other than U. S. Treasury - presented for deposit in excess of $500 must be verified PRIOR to deposit. After verification, check should be deposited and placed on “hold” for the appropriate amount of days. Any check that is less than $500 may be deposited prior to verification if there is money in the account to cover the check. That amount should be placed on “hold” until the check clears. If there is any doubt, the check should be presented to Branch Manager for disposition.

Privacy Policy

The Chicago Post Office Employees Credit Union (CPOECU) is committed to protecting your privacy. We recognize the importance of protecting the personal information of our members and of our obligation to keep the information you provide to us secure and confidential.

When you access our Web site, or use our other products or services, we and our business partners who help us deliver these products to you will have access to your personal information. As a general rule, CPOECU does not disclose to third parties private information that you submit which personally identifies you. However, there are several exceptions to this general rule which include, but are not limited to the following:

Where it is necessary for completing transactions.
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.
In order to comply with a government agency or court order.
If you give us your written permission.

USA PATRIOT ACT

Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.