YOUR ABILITY TO WITHDRAW FUNDS at OLEAN AREA FEDERAL CREDIT UNION. Our policy is to delay the availability of funds that you deposit in your account. 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.

1. 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 before 5:30 p.m. 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 after 5:30 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day. The length of the delay varies depending on the type of deposit and is explained below.

2. Same-Day Availability. Funds from the following deposits are available on the same business day as the day of your deposit:
   • U.S. Treasury checks that are payable to you.
   • Wire transfers and electronic direct deposits.
   • Checks drawn on the Credit Union.

   If you make the deposit in person to one of our employees, funds from the following deposits are also available on the same business day as the day of your deposit:

   • Cash.
   • State and local government checks that are payable to you.
   • Cashier's certified, and teller's checks that are payable to you.
   • 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 to one of our employees (for example, if you mail the deposit), funds from that deposit will be available on the second business day after the day of your deposit.

3. Availability of Other Check Deposits. The delay for other check deposits depends on whether the check is a local or a nonlocal check. To see whether a check is a local or a nonlocal check, look at the routing number on the check. If the first four digits of the routing number are 0220, 0223, 2220, or 2223, then the check is a local check. Otherwise, the check is a nonlocal check. Some checks are marked "payable through" and have a four or nine-digit number nearby. For these checks, use the four-digit number (or the first four digits of the nine-digit number), not the routing number on the bottom of the check, to determine if these checks are local or nonlocal.
   1. Local Checks. The first $100 from a deposit of local checks will be available on the first business day after the day of your deposit for cash withdrawal and to pay checks you have written to others. The remainder generally will be available on the second business day after the day of your deposit for both of these purposes. For example, if you deposit a local check of $700 on a Monday, $100 of the deposit is available on Tuesday to pay checks to others and to withdraw in cash. The remaining $600 is available on Wednesday for cash withdrawal and to pay checks you have written to others.

   2. Nonlocal Checks. The first $100 from a deposit on nonlocal checks will be available on the first business day after the day of your deposit for cash withdrawal and to pay checks you have written to others. The remaining funds will be available as follows: For nonlocal checks drawn on a paying bank located within New York state, funds will be available no later than the fourth business day after the banking day of deposit. For example, if you deposit a nonlocal in-state check of $700 on a Tuesday, $100 of the deposit is available on Wednesday to pay checks to others and to withdraw in cash. The remaining $600 from the deposit is available on Monday of the following week for cash withdrawal and to pay checks written to others.

      For nonlocal checks drawn on a paying bank located outside of New York state, funds will be available no later than the fifth business day after the banking day of deposit. For example, if you deposit a nonlocal out-of-state check of $700 on Tuesday, $100 of the deposit is available on Wednesday to pay checks to others and to withdraw in cash. The remaining $600 from the deposit is available on Tuesday of the following week for cash withdrawal and to pay checks you have written to others.

4. Longer Delays May Apply. Funds you deposit by check may be delayed for a longer period under the following circumstances:
   • You deposit checks totaling more than $5000 on any one day.
   • You deposit a check that has been returned unpaid.
   • You have overdrawn your account repeatedly in the last six months.
   • We believe a check you deposit will not be paid.
   • 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.

5. Special Rules for New Accounts. If you are a new member, the following special rules will apply during the first 30 days your account is open: Funds from electronic direct deposits 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 a day's total deposits 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 payable to you. The excess over $5,000 will be available on 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.

6. Deposits at Nonproprietary ATMs. Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day after the date of your deposit. This rule does not apply at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.