Disclosures

On this page you will find Honor Credit Union’s fee schedule, terms of use, other policies, and new membership terms and conditions. If you have any questions you can call or text our Virtual Member Center at 800.442.2800, or chat live with us.

Changes To Regulation CC

Recently, the Federal Reserve Board increased several of the monetary limits within Regulation CC and tied them to a formula that is derived from data within the Consumer Price Index. In line with this regulation, credit unions are allowed to hold funds in certain circumstances, but only for limited periods, which are outlined below and within our Funds Availability Policy.

  • Next Day Availability – $200 is changing to $225. This means that now the first $225 of your total amount deposited daily will be available on the first business day. Depending on the type of the deposit, additional funds may not be available under the day after your deposit is originally made. If we are not going to make all the funds of your deposit available on the first business day, we will notify you at the time you make your deposit.
  • Special Exception Holds – $5,000 is changing to $5,525. This means the checks you deposit that exceed $5,525 can be held. This amount is used on certain special exception holds, such as large deposit holds, new account holds, and repeatedly overdrawn holds.
  • Hold Extensions – $400 is changing to $450. This means the rule permits financial institutions to extend holds by one business day when a deposit is taken for withdrawal by cash or similar means.

To help you better understand the changes that occurred on July 1, 2020, below is a chart showcasing the previous limits and the now in effect monetary limits.

Regulation CC Policy

Regulation ReferenceCurrent thresholdsThresholds on and after July 1, 2020
Next day availability (229.10)$200$225
Large Deposit (229.13(b)), New Account (229.13(a)), and Repeated Overdraft Limits (229.13(d))Aggregate amounts over $5,000Aggregate amounts over $5,525
Special rules for cash withdrawals (229.12(d))$400$450
Civil Liability (229.21(a))$1,000 and $500,000$1,100 and $552,500

To review our Funds Availability Policy in full, click here.

If you have any questions, do not hesitate to reach out to our Virtual Member Center by phone/text at 800.442.2800 or through Live Chat with us on our website.

New memberships only. $100 paid when new member opens a checking account with a minimum deposit of $25 and has at least one direct deposit totaling $100 per month. Direct deposit must be made within 60 days of account opening. Bonus will be paid within 30 days of direct deposit posting to new account. New account must remain open and maintain a positive balance for at least 90 days. If criteria is not met, $100 bonus will be withdrawn from account. Limit one $100 bonus per new member. Honor employees and immediate family members ineligible. Offer subject to change without notice. This is a gift, please consult your tax advisor. Not valid with any other offer. Limited time offer. Federally insured by NCUA.

New memberships only. $250 paid when new member opens a checking account with a minimum deposit of $25 and has at least one direct deposit totaling $100 per month. Direct deposit must be made within 60 days of account opening. Bonus will be paid within 30 days of direct deposit posting to new account. New account must remain open and maintain a positive balance for at least 90 days. If criteria is not met, $250 bonus will be withdrawn from account. Limit one $250 bonus per new member. Honor employees and immediate family members ineligible. Offer subject to change without notice. This is a gift, please consult your tax advisor. Not valid with any other offer. Limited time offer. Federally insured by NCUA.

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