Beginning July 1st the rules for check holds will change to the following:
•The minimum amount of deposited funds that credit unions must make available for withdrawal by opening of business on the next day for certain check deposits is increased from $200 to $225.
•New Account Exception - The amount of funds deposited by certain checks in a new account that are subject to next-day availability is increased from $5,000 to $5,525.
•Large Deposit Exception - The threshold for using an exception to the funds-availability schedules if the aggregate amount of checks on any one banking day exceeds the threshold amount is increased from $5,000 to $5,525.
•Repeat Overdraft Exception - The threshold for determining whether an account has been repeatedly overdrawn is increased from $5,000 to $5,525.
* Regulation CC rules do not apply to savings accounts.