Due to Federal Changes to Regulation CC, Expedited Funds Availability, we have changed our Funds Availability Policy.  You will find the change is beneficial to you and expedites the availability of your funds in certain circumstances.  The change to the policy is effective July 1, 2025.

Funds Availability Policy Disclosure CBW Schools Federal Credit Union

Your Ability to Withdraw Funds

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before end of business hours on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after end of business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply

In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $275 of your deposits, however, may be available on the first business day.

If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

• We believe a check you deposit will not be paid.

• You deposit checks totaling more than $6,725 on any one day.

• You redeposit a check that has been returned unpaid.

• You have overdrawn your account repeatedly in the last six months.

• There is an emergency, such as failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $6,725 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $6,725 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $6,725 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits made during business hours will be available the same day of your deposit.

ApplePay and GooglePay now available for your CBW Schools issued debit card. Coming soon, Premium Text Messaging and Fraud Alerts coming to your mobile phone, email or home phone. For more information, visit: cbwsfcu.org/online-services

LOGIN TO YOUR MASTERCARD ACCOUNT HERE

All VISA cards have been transferred to MasterCard.  You can access your MasterCard account, check the balance and pay your bill by clicking the link above.

Whether you’re an undergraduate or graduate student, get money for school from Sallie Mae^®.   Student loans from CBW Schools FCU in partnership with Sallie Mae^® could help!

For borrowers attending a degree-granting institution, Sallie Mae^® higher education loans are designed for the needs of undergraduate and graduate students.

• Competitive interest rates

• Multiple repayment options

• No originations fees; no prepayment penalty¹

Smart Option Student Loan^® for Undergraduate Students

Plus, the graduate loan suite is designed to meet the needs of students in specific fields of study.

Find out which loan is right for you

Borrow responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college.  Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

These loans are made by Sallie Mae Bank or a lender partner.  CBW Schools FCU is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Smart Option Student Loan and graduate loan products:  These loans are for students at participating degree-granting schools.  Smart Option Student Loan information is for undergraduates only.  Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans.  Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. Citizen or U.S. Permanent resident) and provide an unexpired government-issued photo ID to verify their identity.  Applications are subject to a requested minimum loan amount of $1,000.  Current credit and other eligibility criteria apply.

¹Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note – first to Unpaid Fees and costs, then to Unpaid Interest, and then to the Current Principal.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE.

© 2021 Sallie Mae Bank.  All rights reserved.  Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are services marks or registered service marks of Sallie Mae Bank.  All other names and logos used are the trademarks or service marks of their respective owners.  SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

Cybercriminals are targeting financial institution customers directly through known and trusted channels of communication, such as telephone, text messages and email. They use these methods to gain your trust as an official communication from C-B-W.

It is important to NEVER provide personal or financial information such as social security numbers, card numbers, user name or passwords, and one-time passcodes when responding to telephone calls, e-mails or text messages.

Sadly, cybercriminals prey on people in times of change or uncertainty. They are always looking to catch you off guard and exploit your personal information. Continue to remain vigilant and keep your personal information safe.

C-B-W will never contact you via phone or email and ask for the following information:
• Account numbers
• PIN numbers
• Passwords
• Social security number

Other ways that cybercriminals try to exploit are the following:
• NEVER trust caller ID or text messages. Their efforts may include ‘spoofing’ our telephone number so it appears as “C-B-W” on your caller ID
• Watch email addresses and website addresses with slightly altered spellings
• Watch for aggression or urgency from the caller. If you feel uncomfortable, hang up and call someone you trust.
• Gift cards are for gifts, not to make payments. Responsible companies will not ask you to pay in unusual ways such as with gift cards or money orders.
• Winning money or prizes from a contest that you did not enter.

Once again, C-B-W will NEVER initiate a call and ask you for your account numbers, PIN numbers, passwords or social security number. If you are unsure, have questions or concerns, please call the Credit Union at 814-487-5714.

C-B-W Schools Federal Credit Union Complex office will close early at 3:30pm on the 3rd Tuesday of every month.

C-B-W Schools Federal Credit Union Sidman office will close early at 4:00pm on the 3rd Tuesday of every month.

Free fraud prevention publications for older adults from the Consumer Financial Protection Bureau.  For more resources, visit: consumerfinance.gov/olderamericans