Speaker: Mary-Lou Heighes, CUCE,
Compliance Plus, Inc.
About the Program
Understanding the credit union’s check hold rights and
responsibilities can mean the difference between taking a loss and
avoiding a loss. Although members may want to use deposited funds
immediately, there are times when applying holds can save the credit
union (and in some cases the member) from having an item returned. Join
us to learn about the maximum time frames and circumstances for
correctly placing deposit holds.
Then -there is the return process. This webinar will also address the
specific time frames in which to return an item unpaid and the required
notifications to the financial institution where the item was
What are the maximum time frames for placing a hold on a
How long can holds be placed on an exception basis? What are the
Is there a difference between a teller check and a cashier’s
Does a hold notice need to be provided at time of deposit?
What’s the difference between a copy of a check and a
substitute check? Why is it important?
Who is entitled to the special protections for substitute
Are special notices required when substitute checks are returned to
How long does the credit union have to return a check?
Must the credit union always reimburse the accountholder for a