Your Money is Safe and Secure at MyCom Federal Credit Union!

November 30th, 2023

Your Money is Safe and Secure at MyCom Federal Credit Union!

As a credit union member at MyCom Federal Credit Union, you are an owner of our not-for-profit financial cooperative. Credit Unions’ first priority is your financial success, and we focus on financial security. Your deposits at MyCom Federal Credit Union, a federally insured Credit Union, are safe and secure.

Federally insured Credit Unions offer a safe place for members to save money. These deposits are protected by the National Credit Union Share Insurance Fund and insured up to $250,000 per individual depositor. In addition, Massachusetts Credit Union Share Insurance Corporation (MSIC) fully insures excess shares and deposits above the federal insurance limit of $250,000. Credit union members have never lost a penny of insured savings at a federally insured Credit Union. Your money is safe and secure at MyCom Federal Credit Union!

You can visit MyCreditUnion.gov for more information about the National Credit Union Share Insurance Fund and the Massachusetts Credit Union Share Insurance Corporation at MSIC.org.

our members deposits 100% insured

Important Regulation CC (Availability of Funds and Collection of Checks) Changes Effective July 1, 2025 

In accordance with 12 CFR 229, Availability of Funds and Collection of Checks (Regulation CC), we are updating our Funds Availability Policy effective July 1, 2025. These changes impact when deposited funds will be available for withdrawal – increasing the amount made available to you for certain items presented for deposit. 

Key Changes to Funds Availability 

  • The first $275 (previously $225) of a check deposit will generally be available no later than the first business day after the day of deposit. 
  • The threshold for large check deposits subject to extended holds has increased to $6,725 (previously $5,525). 
  • For new accounts, the amount of deposits available within the first business day has increased to $6,725 (previously $5,525). 

These updates align with adjustments mandated by Regulation CC. Our general policy remains the same. However, certain check deposits may be delayed for a longer period under the following circumstances: 

  • We believe a check you deposited 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. 

For more details, please review our updated Funds Availability Policy.