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.

FUNDS AVAILABILITY DISCLOSURE

This policy statement applies to all accounts. 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 check(s) that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

DETERMINING THE AVAILABILITY OF A DEPOSIT

The length of the delay is counted in business days from the date of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit before closing 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 closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open. The length of the delay varies depending on the type of deposit and is explained below.

SAME-DAY AVAILABILITY

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.

NEXT-DAY AVAILABILITY

Funds from the following deposits are available on the first business day after the day of your deposit:

1. U.S. Treasury checks that are payable to you. 
2. Wire Transfers. 
3. Checks drawn on Suma (Yonkers) Federal Credit Union.

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

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

OTHER CHECK DEPOSITS

The delay for other check deposits depends on whether the check is a local or non-local check. To see whether a check is a local or a non-local check, look at the routing number on the check.

If the first four digits of the routing number are 0210, 0214, 2214, 0215, 2215, 0216, 2216, 0219, 2219, 0260, 2260, or 0280 then the check is a local check. Otherwise, the check is a non-local 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 non-local. Our policy is to make funds from local and non-local checks available as follows:

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. The remaining funds will be available on the second business day after the day of your deposit.
   
   For example, if you deposit a local check of $700 on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Wednesday. 
2. Non-local Checks - The first $100 from a deposit of non-local checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the fifth business day after the day of your deposit.
   
   For example, if you deposit a $700 non-local check on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Monday of the following week. If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of check.
3. Local and Non-Local Checks - If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of check.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

Longer Delays May Apply:

Funds you deposit by check may be delayed for a longer period under the following circumstances:

·         We believe a check you deposit will not be paid.

·         You deposit checks totaling more than $5,000 on any one day.

·         You redeposit a check that has been returned unpaid.

·         You have overdrawn your account repeatedly in the last six months.

·         There is an emergency, such as failure of computer or communications 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 (number) business day after the day of your deposit.

Special Rules for New Accounts:

If you are a new customer, 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 (and you may have to use a special deposit slip). 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 tenth business day after the day of your deposit.

EQUAL HOUSING LENDER

WE DO BUSINESS IN ACCORDANCE WITH THE FEDERAL FAIR LENDING LAWS

Under the Federal Fair Housing Act, it is illegal, on the basis of race, color, national origin, religion, sex, handicap, or familial status (having children under the age of 18), to:

• Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or to deny any loan secured by a dwelling; or 
• Discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan, or in appraising property.

If you believe you have been discriminated against, you should send a complaint to:

Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing & Urban Development
Washington, DC 20410
For processing under the Federal Fair Housing Act

and to:

National Credit Union Administration
Office of Examination and Insurance
1775 Duke Street
Alexandria, VA 22314-3428
For processing under NCUA Regulations

Under the Equal Credit Opportunity Act, it is illegal to discriminate in any credit transaction:

• On the basis of race, color, national origin, religion, sex, marital status, or age, 
• Because income is from public assistance, or 
• Because a right was exercised under the Consumer Credit Protection Act.

If you believe you have been discriminated against, you should send a complaint to:

National Credit Union Administration
Office of Examination and Insurance
1775 Duke Street
Alexandria, VA 22314-3428

HOME MORTGAGE DISCLOSURE ACT NOTICE

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; race, gender, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at our main office (back office personnel) regarding the locations where HMDA data may be inspected.

NOTICE OF NEGATIVE INFORMATION

Federal law requires us to provide this notice to members before any “negative information” may be furnished to a nationwide agency. “Negative information” means information concerning delinquencies, late payments, insolvency, or any form of default. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.