Effective Date: July 1, 2025
Galaxy Federal Credit Union is updating its Funds Availability Policy. The following changes will take effect on July 1, 2025:
Standard Check Deposits
The first $275.00 from a deposit of checks will be available on the first business day after the deposit. The remaining funds will be available on the second business day after the deposit.
Example:
If you deposit a check for $700.00 on a Monday:
- $275.00 will be available on Tuesday
- $425.00 will be available on Wednesday
Large Check Deposits
The threshold for large check deposits is increasing from $5,525.00 to $6,725.00. For checks exceeding $6,725.00, a portion of the deposit may be held longer.
Example:
If you deposit a check for $10,000.00:
- $275.00 will be available on the next business day
- $6,450.00 will be available on the second business day
The remaining $3,275.00 will be available on the seventh business day
If you have any questions about this change, please contact a member service representative.
