They Will Hold Your Money At Whim Without Reason.

Justme123,

I understand your frustration and am sorry this happened to you. "Because we can" isn't a helpful answer. 

Somewhere in their account disclosure statement (AKA fine print), banks discuss holds on deposits and they generally include a clause stating that they will put a hold on any check they believe may not be paid.   

Is it possible the credit union thinks your employer may be in financial trouble and the check may not clear?  If so, that may be why they have placed a hold on the paycheck.  Talk with other employees at your company (whether they bank at O Bee or not) to see if they are also experiencing holds on their paychecks.  If so, that may be a strong signal that other banks may also be considering your employer to be in financial trouble - which would be good for you to know.

Also, make your employer aware that the paychecks are being put on hold at the bank and listen to what they have to say. 

Good luck to you~

Dear Member,

I apologize that you had a difficult encounter with our credit union.  I would like to reassure you that in no way do we intentionally put you in danger.  We have reviewed the transaction and inquiry history on your account and have found that your account is brand new at the credit union and your deposit was made to an ATM.  When you opened your account, our staff member provided a disclosure specifically covering check holds on new accounts.  However, we do make our best attempt at not putting a hold on a payroll check, but an ATM has no way of making that distinction.  We understand that you called into our after-hours call center that is not authorized to make decisions such as removing check holds as they only have limited account information.  I apologize for the inconvenience and poor interaction you had with them.  I would appreciate the opportunity to hear more about your experience with them so we can work on making any necessary improvements.

Pearlbrown, thank you very much for your insightful input.  This situation simply arose because it was a brand new account and a deposit done at an ATM.  We have no knowledge of whom the check was written from when it was deposited and it in no way reflects the financial stability of the aforementioned employer.

   - O Bee Credit Union Management

 

O Bee CU,

It's impressive that you were able to identify your account holder and research the situation based on the scant information provided.  Kudos for taking the time to respond in this forum.