Missouri Valley Federal Credit Union

Initial Business Response / [redacted] (1000, 5, 2015/08/05) */ Missouri Valley Federal Credit Union has received the above member complaint and appreciates the opportunity to respondThe member's complaint was regarding a deposit that was thought to be available for use and requested a full refund of all accrued fees Account research regarding this complaint shows that the member deposited money into their account via ATMPer sign posted on ATM "Funds from deposits may not be available for immediate withdrawal." Along with this information posted at the ATM, the member also mentioned the receipt from the ATM showing a hold on the amount depositedConfusion came later when the member checked their balance using our online accessOur online access shows two balances regarding each account the member has open with Missouri ValleyOne is a "Balance" and the other is an "Available Balance"The "Balance" reflects the ledger balance and the "Available Balance" reflects availability after any pending holds and/or preauthorizations are releasedThe primary difference between the ledger balance and available balance is checks that the company or individual has deposited in his account, but which the credit union has not yet made available for use according to policyAs a courtesy, a partial fee refund was performed We ask that you please keep in mind; deposits have many factors that can affect availabilityThis information can be found on our disclosure pamphlets, given to member's upon account openingAdditional information is posted in our lobby as well as on our ATM regarding deposit holds

Initial Business Response /* (1000, 5, 2015/08/05) */
Missouri Valley Federal Credit Union has received the above member complaint and appreciates the opportunity to respond. The member's complaint was regarding a deposit that was thought to be available for use and requested a full refund of all...

accrued fees.
Account research regarding this complaint shows that the member deposited money into their account via ATM. Per sign posted on ATM "Funds from deposits may not be available for immediate withdrawal." Along with this information posted at the ATM, the member also mentioned the receipt from the ATM showing a hold on the amount deposited. Confusion came later when the member checked their balance using our online access. Our online access shows two balances regarding each account the member has open with Missouri Valley. One is a "Balance" and the other is an "Available Balance". The "Balance" reflects the ledger balance and the "Available Balance" reflects availability after any pending holds and/or preauthorizations are released. The primary difference between the ledger balance and available balance is checks that the company or individual has deposited in his account, but which the credit union has not yet made available for use according to policy. As a courtesy, a partial fee refund was performed.
We ask that you please keep in mind; deposits have many factors that can affect availability. This information can be found on our disclosure pamphlets, given to member's upon account opening. Additional information is posted in our lobby as well as on our ATM regarding deposit holds.