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New ACH Regulation 

As of September 15, we—along with every other financial institution in the country—are now required to follow new regulations that allow Automated Clearing House (or ACH) electronic debits to process in the same day they are authorized.

ACH transactions are typically originated by electronic authorization (but can also be a paper check converted by the merchant to an electronic approval) that are posted to your account automatically. Some common ACH transactions include your direct deposit from your employer, or your payment to the utility company. Most member accounts have ACH transaction activity.

Historically, ACH transactions have posted to your accounts on the business day following the authorization. For example, you authorize the utility company to withdraw $60.00 for your monthly bill on a Tuesday morning, but the money isn’t actually debited until early Wednesday morning. This new rule means your payment will come out of your account on Tuesday (not Wednesday morning) essentially eliminating the one-day “float.”

As always, you'll want to make sure adequate funds are in your account prior to authorizing any payment. Please be aware that transactions authorized without adequate funding in your account may result in non-sufficient funds (NSF) fees or overdraft fees (see Fee Schedule for details).

If you have any questions or concerns, please call us at 866.674.2848.

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