Policies and Disclosures

Privacy Policy

At Compass Federal Credit Union (FCU), it is our mission to provide our members with responsive personal service, and the peace of mind knowing that your information is secure. Protecting the confidentiality of your personal information is a high priority at Compass FCU.

We are required by law to give you this privacy notice to explain how we collect, use and safeguard your personal financial information. We only collect information about you that is necessary to conduct our business or to deliver to you products and services that you have requested. We will share information with third parties only when it is necessary to administer products and services provided to meet your financial needs or when required to do so by law.

We may disclose all the information we collect, as described below, to companies that perform marketing or other services on our behalf or to other financial service providers with whom we have joint marketing agreements. To protect our members' privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide to them.

INFORMATION WE COLLECT AND DISCLOSE ABOUT YOU

Compass FCU collects and may disclose non-public personal information about you from the following sources:

• Information we receive from you on applications and other forms;
• Information about your transactions with us or others;
• Information we receive from consumer reporting agencies;
• Information obtained when verifying the information you provide on an application or other form.

We may also disclose information we collect about you under other circumstances as permitted or required by Law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit union, and follow your instructions as you authorize, or protect the security of our financial records. If you terminate your relationship with Compass FCU, we will not share information that we have collected about you, except as permitted or required by law.

HOW WE PROTECT YOUR INFORMATION

We restrict access to non-public personal information about you to those employees who have a specific business purpose in utilizing data. Our employees are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic, and procedural safeguards that comply with federal regulations and leading industry practices to safeguard your non-public personal information.

If you have any questions about this policy please contact Jennifer Rupert at (315) 342-5300.

Check Cashing Policy 

Purpose: To follow the Funds Availability Chart that is updated per Reg CC every five years. The latest update will be in effect on July 1, 2025.

Guidelines:

CHECKS EXCLUDED FROM HOLD POLICY (if presented by members in person):

• Payroll checks made payable to account holders
  
• US Treasury, NY State Government & Local Government made payable to account holder

AVAILABILITY OF OTHER CHECK DEPOSITS: The first $275.00 from a deposit of other checks will be available by the first business day after the day of deposit. The remaining funds for checks up to $6,725.00 will be available by the second business day after the day of deposit. For checks over $6,725 the remaining funds will be available by the seventh business day after the day of deposit. **Compass Credit Union has the right to make exceptions regarding holds.**

HOLD TIMES:

LONGER DELAYS MAY APPLY: We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

• We have reasonable cause to believe the check you deposit will not be paid.
• You deposit checks totaling more than $6,725.00 on any one (1) day
• You redeposit a check that has been returned unpaid
• You have overdrawn your account 6 or more times in the last six (6) months
• There is an emergency, such as failure of communications or computer equipment

We will notify you of the delay. They will generally be available no later than the 7th business day of your deposit.

CHECKS MADE PAYABLE TO A BUSINESS: Same holds apply as above.

• Checks payable to a business or corporation are NOT to be cashed. These checks would have to be deposited into an account in the name of the business. If there are funds in the account the deposited amount can be withdrawn by an authorized signer conducting the transaction.
• The account title on the system must match the payee of the check. Checks payable to businesses cannot be endorsed and deposited into a personal account. Likewise, checks payable to an individual may not be deposited into a business account (unless it is a sole proprietorship DBA with the SSN of the individual also being used for the business).

HOLDS FOR NEW ACCOUNTS (During first 30 days an account is open):
All checks, excluding Payroll Checks in any amount, Local Government Checks, NY State Government Checks, U.S. Treasury Checks, Cashier’s Checks, Certified Checks, Teller’s Checks and Postal Money Orders up to $6,725 made payable to account holder, will be available to account holder on the 9th business day.

NON-MEMBER CHECK CASHING IS NOT ALLOWED

• ** Any Novelis check presented by a Non-Member Novelis Employee may be cashed with a valid ID
• Compass Credit Union does not cash On-Us checks for non-members who have caused the credit union a loss

THIRD PARTY CHECKS WILL NOT BE ACCEPTED:
If a member brings in another member’s check that has been endorsed by both parties; we
will negotiate the check provided both accounts are in good standing.

_{Revised June 9, 2026 (Effective July 9, 2026)}