Secure Online Banking

Online Banking
Reset Password?
Apply Now

Reordering Checks is Easy!

Writing Checks

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.

Funds Availability Disclosure

This Disclosure describes your ability to withdraw funds from any account at SUMA Yonkers Federal Credit Union.

  1. GENERAL POLICY - Our policy is to delay the availability of funds from your cash and check deposits. 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.
  2. DETERMINING THE AVAILABILITY OF A DEPOSIT - When we delay the availability of a deposit the length of the delay is determined by counting the 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 8:00 p.m. at a staffed facility or before 3:00 p.m. at an ATM that we own or operate 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 our cutoff hour 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.

  1. SAME-DAY AVAILABILITY - Funds from electronic direct deposits to your account will be available on the same business day that we receive the deposit.
  2. NEXT-DAY AVAILABILITY - Funds from the following deposits are available by the first business day after the day of your deposit:
  • U.S. Treasury checks that are payable to you
  • Wire transfers
  • Checks drawn on SUMA Yonkers Federal Credit Union
  1. NEXT-DAY AVAILABILITY FOR CERTAIN DEPOSITS MADE IN PERSON - Funds from the following deposits are available by the first business day after the day we receive your deposit, if you make the deposit in person to one of our employees:
  • 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 in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available by the second business day after the day we receive your deposit.

  1. AVAILABILITY OF OTHER CHECK DEPOSITS - The first $200.00 from a deposit of other checks will be available by the first business day after the day of your deposit. The remaining funds will be available by the second business day after the day of your deposit. For example, if you deposit a check of $700.00 on a Monday, $200.00 of the deposit will be available by Tuesday. The remaining $500.00 will be available by Wednesday.
  2. HOLDS ON OTHER FUNDS - If we cash a check for you that is drawn on another financial institution, 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 financial institution, 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.
  3. LONGER DELAYS MAY APPLY - We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:
  • We believe a check you deposit will not be paid.
  • You deposit checks totaling more than $5,000.00 on any one (1) day.
  • You redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six (6) months.
  • 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 fifth business day after the day of your deposit.

  1. 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 $5,000.00 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 next 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 $5,000.00 will be available on the fifth 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 $5,000.00 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 thirtieth calendar day after the day of your deposit.

  1. 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.
  2. CASH WITHDRAWAL LIMITATION - We place certain limitations on withdrawals in cash. In general, $200.00 of a deposit is available for withdrawal in cash by the first business day after the day of deposit. In addition, a total of $400.00 of other funds becoming available on a given day will be available for withdrawal in cash at or after 12:00 p.m. that day. Any remaining funds will be available for withdrawal in cash by the following business day.
  3. FOREIGN CHECKS - Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this Disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institution upon which it is drawn.

Substitute Checks:

A substitute check is a legally sanctioned document with all the rights and obligations given to the original check written from your checkbook. Substitute checks are paper copies created from electronic images of original paper checks (front and back, with all endorsements). Each substitute check also includes a statement identifying it as a legal copy of the orginal check.

Wire Transfers:

Funds to be sent as wire transfers may not be wired up to one business day following the request.

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.

Deposits at Non Proprietary ATMs

Deposits at automated teller machines (ATMs) we do not own or operate are not permitted. All ATMs that we own or operate are identified as our machines.

Remote Deposit Service

 For the full text of Remote Deposit Terms and Conditions click here.

ApplePay, Samsung Pay, and Google Pay Wallet Services

By storing your card number, you agree that any future use will be subject to the terms of your existing card agreement. If your phone is lost, stolen or compromised, please contact us right away.