Archive for June 2020

Reg CC Update for Customers

To our Valued Customers,


The Federal Reserve and Consumer Financial Protection Bureau recently amended the regulation that implemented the Expedited Funds Availability Act, which controls when banks must make deposited funds available, and the amounts that must be made available.   

Effective July 1, 2020, the following changes will be made to the Bank’s Funds Availability Schedule:

  • The funds available on the next business day for local checks deposited will increase from $200 to $225.
  • The funds available from deposits made to non-proprietary ATMs will increase from $400 to $450.
  • The funds available for next-business day items deposited to a new account will increase from $5,000 to $5,525.
  • The funds available for a large deposit exception hold will increase from $5,000 to $5,525. 

  • The exception hold for repeatedly overdrawn accounts that applies when the account balance is negative on two or more banking days within the previous six months has increased to $5,525 from $5,000.

We appreciate the opportunity to serve you and we are thankful for your continued loyalty to Citizens Federal Savings Bank. Please contact us if you should have any questions regarding the new amendments.



Chuck Moorehead

Vice President Retail Banking