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[ArthurS851289]

I have my check deposited by direct deposit into my Federal Credit Union account. Past 4 months the funds were not made available for 5 to 6 business days later. Has anyone else experienced this?

[GailL1]

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@ArthurS851289 wrote:

I have my check deposited by direct deposit into my Federal Credit Union account. Past 4 months the funds were not made available for 5 to 6 business days later. Has anyone else experienced this?

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Actually, ArthurS851289, they cannot do that - legally - not a bank nor a credit union..  Neither can these funds be garnished.  

However, are you sure that something else is not going on? 

Sometimes there is more to a story - is there to this one???

[ArthurS851289]

Gail, you have implied that there is more to the story then I stated. There is not. 

[GailL1]

@ArthurS851289 

If there is no further story then you shold confront the Credit Union on this policy and ask WHY.

Your SS benefit funds (from the US Treasury) done by electronic direct deposit should be available in one-business day under a Federally regulated credit union.  I always thought that even state chartered credit unions had the same rule - but You may have to check with your state on that -

You should have a written policy on the holding of deposited funds from your Credit Union - you should know if it is a Federally regulated facility or under a state-charter - this determines who does the regulating.

Investopedia - What is the Difference Between a State and a Federally Chartered Credit Union?

Asking the institution WHY this is happening should get you a starting point.  

Let us know what you find out.    Good Luck.

Some info and links -

CreditKarma - 04/17/2019 - What is the NCUA?

BOTTOM LINE:  The NCUA allows consumers to trust credit unions across the United States. However, not every credit union is insured or regulated by NCUA. 

WalletHub 03/19/2015 - Funds Availability Policy by Deposit Type

Government Checks: -U.S. Treasury Check -U.S. Postal Service Money Order -State/Local Government Check -Federal Reserve Bank/Federal Home Loan Bank Check	In Person to an Employee	Next Business Day (For State/Local Gov't. Checks: Payor and Receiving Financial Institution Must Be in the Same State)
At an On-Premises ATM or Night Depository	2nd Business Day (Except U.S. Treasury Checks: Available Next Day)
At a Nonproprietary or Non-Network ATM	5th Business Day

The Balance: 04/10/2019 - Funds Availability

link contains  more info