Members should be aware that there is no correlation between a check hold being released and the deposited item being a good check. The processing of a deposited item through the Federal Reserve system determines whether a check is ultimately paid by the institution that the check is drawn on. The check hold period applied by the credit union at the time of deposit only indicates when the funds from the deposit will be available to the member. The key point here is don't assume that a deposited item has cleared the institution it was drawn on just because a check hold is released.
Checks deposited to accounts are returned for a variety of reasons. They may be returned for insufficient funds, stop payment, closed account, or other reasons including fictitious item which means that the check is a fake. Members are legally responsible for all items deposited to their accounts. Members are encouraged to know who they are dealing with when it comes to receiving a check. If you don't know who sent you a check and the receipt of the check is connected to a contact made via the Internet or mail, please inform the credit union so that we can investigate the status of the check before it is deposited. If you are being asked to send or wire any money to a stranger from a check received from a stranger or "business opportunity", don't do it. If you think that a check is suspicious in nature, it usually is.