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Warning: My bank held a $900 check for 8 days while my credit union cleared it same day
Last month I deposited a $900 insurance check at my big bank on a Monday and they told me the funds wouldn't be ready until the following Tuesday, which almost made me miss my car payment. My wife took her share of the same check to our small credit union that afternoon and the money was sitting in her account by Wednesday morning. The bank blamed "processing windows" and a hold policy tied to the check amount, but nobody could explain why a tiny branch in our town moved faster than a national chain. We keep both accounts now, mostly out of habit, but I keep wondering if that's just us being lazy. Has anyone else seen a credit union beat a big bank on deposit speed like that, or was this a one time thing?
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