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Q: Will the data system upgrade affect my IRA periodic payment or certificate dividend check?
A: It is possible that they may be delayed by one business day.Q: How will Foreign ATM deposits be handled after the data system upgrade?
A: Funds deposited by cash and / or check at Foreign ATMs (non-Heritage Federal Credit Union ATMs) will become available for withdrawal no later than the fifth business day following the banking day on which the funds were deposited.
Q: How will Heritage Federal Credit Union handle the availability of my money from a check that I deposit at a Heritage Federal Credit Union branch after the data system upgrade?
A: Deposits by check made at Heritage Federal Credit Union branches will be assigned a check hold with availability of funds being based on $100 per day. Example: If a local check is deposited and a two-day local check hold is placed on the deposit, then the first $100 becomes available the next day with the rest of the check balance becoming available the following day. Non-local check holds allow $100 becoming available the next day with the rest of the balance being available for withdrawal no later than the fifth business day following the banking day on which the funds were deposited. These are with no exceptions.
A: Deposits by check and / or cash made at Heritage Federal Credit Union ATMs will be assigned a 2-day hold.
Q: Will current share certificate suffixes change as the result of the Data System Upgrade?
A: Yes. The following changes will take place (these numbers will be added to current suffix numbers—example: my current suffix for my Traditional IRA Share Certificate is 71; after the upgrade the suffix will be 2071):
- Regular share certificate: add 1000 to current suffix
- Traditional IRA Share Certificate: add 2000 to current suffix
- Roth IRA Share Certificate: add 3000 to current suffix
- Coverdale (Educational) Share Certificate: add 4000 to current suffix
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