Thursday, May 28, 2015

Disclosures and Legal Disclaimers


Our policy is to make funds from cash and electronic direct deposits available on the day of deposit.  Then you may withdraw the funds in cash or we use them to pay checks or electronic transactions you have authorized.  For determining the availability of
deposits, every day is a business day except Saturday, Sunday, and federal holidays. Deposits made before 4:30 pm on business days are considered deposited that day.  Deposits made after 4:30 pm or on days we are not open are considered deposited
the next business day. Funds from the following are available the next business day after the day of deposit:
– Checks drawn on the US Treasury and deposited in person to a credit union employee into an account held by a payee of the check
– US Postal Service money orders deposited in person to a credit union employee into an account held by a payee of the money order
– Checks drawn on Federal Reserve or Federal Home Loan Banks and deposited in person to a credit union employee into an account held by a payee of the check
– Checks drawn on New York State government or local governments within New York State deposited in person to a credit union employee into an account held by a payee of the check
– Checks deposited in an account at the credit union and drawn on the same credit union in the same state or the same check processing region
– The lesser of $200 or the aggregate amount deposited on any one banking day to all accounts of the member by check or checks not subject to next day availability as described above in numbers 1 thru 6
Our policy is to make funds from all other check deposits available for withdrawal no later than the third business day following the day of deposit.  Once funds are available, you can withdraw them in cash or we use them to pay checks or other electronic transactions you have authorized. We may delay your ability to withdraw funds deposited by check an additional number of days for these reasons:
– You deposit checks totaling more than $5,000.00 on any one day
– You have overdrawn your account repeatedly in the last six months
– There is reason to believe a check you deposit will not be paid for any reason
– There is an emergency, such as communications or computer failures
– The source of the check is questionable, such as foreign
– The account is new (open less than 30 days)
– Fraud is suspected
– The check was previously deposited and returned unpaid
– The check was not properly endorsed
– The deposit was not made in person to an employee of the credit union
We will notify you if we delay your ability to withdraw funds for any of these reasons, and will tell you when the funds will be available, generally no later than the fourth business day after the day the deposit would otherwise be available.If you are a new member, the following special rules apply during the first thirty days your account is open: The first $5,000.00 from US Treasury check deposits will be available on the first business day after the day of deposit.  The excess over $5,000.00 will be available on the ninth business day after the day of deposit. Wire transferred funds into your account will be available on the first business day after the day we receive the transfer.  Funds from deposits of cash and the first $5,000.00 of the day’s total deposits of travelers checks or state and local government checks will be available on the first business day after the day of deposit, if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000.00 will be available on the ninth business day after the day of deposit.  If you do not make the deposit in person to a credit union employee, the first $5,000.00 will not be available until the second business day after the day of deposit.

Additional Disclosures


The MCT Federal Credit Union’s website is not intended to provide legal, tax, or accounting advice and should not be relied on in this manner. MCT-FCU is not responsible for any damages arising out of or caused by the use of this website. The information provided by MCT-FCU is believed to be accurate when placed on the website, but cannot and should not be relied upon for any business purpose whatsoever. The information on this website is for informational purposes only and is not a solicitation or an offer to buy or sell services or products of MCT-FCU or affiliates. MCT-FCU does not warrant the accuracy or completeness of any information published on this website. Changes may be made to the information on this website without notice.


All products and services are subject to agreements prepared by MCT-FCU that apply to the specific products or services, details of which will be supplied by the Credit Union directly upon request. The products and services described in the Credit Union’s website are only available in jurisdictions where they may be legally offered.


Websites accessed by hypertext link appearing in this website have been developed independently of MCT-FCU and are meant for convenience only. The Credit Union is not responsible for any information published there. The use of a hypertext link in this website does not imply the endorsement or approval of such websites or the information contained therein by MCT-FCU. Once exiting the MCT-FCU website, any product or service should not automatically be considered federally insured.

MCT FCU’s website offers links to websites of interest to children. MCT FCU DOES NOT, however, COLLECT OR MAINTAIN ANY PERSONAL INFORMATION ON CHILDREN, except that necessary to maintain the accounts of minor persons.

Parents should know that the COPPA (Children’s Online Privacy and Protection Act) requires that any website collecting or maintaining children’s personal information include the name and contact information for the SITE’S operator, how information is collected, how the site’s operator uses personal information collected from children, and whether the site’s operator discloses any personal information collected to other parties. Parents have the option to agree to the collection and use of the child’s information without consenting to the disclosure of the information to third parties. Parents may request to review any personal information, ask to have it deleted and refuse to allow any further collection or use of the child’s information. A website operator may notrequire a child to disclose more information than is reasonably necessary to participate in an activity as a condition of participation. Please review the individual websites for their specific disclosures pertinent to this Act. This information is provided for the personal education of member parents.


MCT-FCU advises that the Internet is not a secure medium and therefore privacy cannot be guaranteed. MCT will not be responsible for any damages that are suffered in the transmittal of information to the Credit Union. Any transmittal of information the Credit Union is done at your own risk. Complete confidentiality and security is not possible.



MCT is open Monday - Saturday at 9 am. The branch closes at 4:30 pm Mon - Wed., at 5 pm on Thursday and at 6 pm on Friday. Saturday hours are 9 am - 12 noon, for the drive-thru only.